Determining hotel room rates: Domestic economic policy uncertainty and crises

IF 1.4 Q3 HOSPITALITY, LEISURE, SPORT & TOURISM
Chew Ging Lee, Shi-Min How
{"title":"Determining hotel room rates: Domestic economic policy uncertainty and crises","authors":"Chew Ging Lee, Shi-Min How","doi":"10.3727/108354222x16571659728574","DOIUrl":null,"url":null,"abstract":"Although the impacts of economic policy uncertainty (EPU) on different aspects of the hospitality industry have been studied, none analyzes the effects of EPU on the hotel room rates. To close this gap, using the monthly data from January 2008 to November 2019, this paper investigates the influences of Singapore’s EPU (hereafter domestic EPU) on the hotel room rates of two types of hotels, luxury and economy, in Singapore with cointegration technique and error correction model. Although prior research findings suggest that economic and disease crises, and EPU have negative effects on the dependent variable of interest, the results of this study do not always support this. The findings of this study show domestic EPU has a negative impact on the room rates of economy hotels, but no impact on the room rates of luxury hotels; and Global Financial Crisis has a negative effect on the room rates of luxury hotels, but no effect on the room rate of economy hotels. To avoid the omission of important independent variables, domestic economic condition and inbound tourism are included as other independent variables.","PeriodicalId":23157,"journal":{"name":"Tourism Analysis","volume":"1 1","pages":""},"PeriodicalIF":1.4000,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Tourism Analysis","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3727/108354222x16571659728574","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"HOSPITALITY, LEISURE, SPORT & TOURISM","Score":null,"Total":0}
引用次数: 0

Abstract

Although the impacts of economic policy uncertainty (EPU) on different aspects of the hospitality industry have been studied, none analyzes the effects of EPU on the hotel room rates. To close this gap, using the monthly data from January 2008 to November 2019, this paper investigates the influences of Singapore’s EPU (hereafter domestic EPU) on the hotel room rates of two types of hotels, luxury and economy, in Singapore with cointegration technique and error correction model. Although prior research findings suggest that economic and disease crises, and EPU have negative effects on the dependent variable of interest, the results of this study do not always support this. The findings of this study show domestic EPU has a negative impact on the room rates of economy hotels, but no impact on the room rates of luxury hotels; and Global Financial Crisis has a negative effect on the room rates of luxury hotels, but no effect on the room rate of economy hotels. To avoid the omission of important independent variables, domestic economic condition and inbound tourism are included as other independent variables.
决定酒店房价:国内经济政策的不确定性和危机
虽然经济政策不确定性(EPU)对酒店业不同方面的影响已被研究,但没有人分析EPU对酒店房价的影响。为了缩小这一差距,本文利用2008年1月至2019年11月的月度数据,利用协整技术和误差修正模型,研究了新加坡EPU(以下简称国内EPU)对新加坡两类酒店(豪华酒店和经济型酒店)房价的影响。虽然先前的研究结果表明,经济危机和疾病危机以及EPU对感兴趣的因变量具有负向影响,但本研究的结果并不总是支持这一观点。研究结果表明:国内EPU对经济型酒店的房价有负向影响,对豪华酒店的房价没有影响;全球金融危机对豪华酒店的房价有负面影响,但对经济型酒店的房价没有影响。为避免遗漏重要自变量,将国内经济状况和入境旅游作为其他自变量。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
Tourism Analysis
Tourism Analysis HOSPITALITY, LEISURE, SPORT & TOURISM-
CiteScore
2.50
自引率
11.10%
发文量
42
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信