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Core Attributes influencing the Room Rate of Deluxe Hotels in Seoul: Focused on a Hedonic Price Model

정은별 1 Lee, Hyung-ryong 1

1세종대학교

Excellent Accredited

ABSTRACT

The purpose of this study was to identify core attributes influencing the room rate of deluxe hotels in Seoul using a hedonic price model. It was also done to provide resources to help hotel marketing by improving hotel revenue with an appropriate room rate. For this purpose, Data were collected from 56 hotels throughout June 1st to June 30th, 2016. According to the results from the completed data, there were hotel attributes that showed significant influence on the room rate that were as follows; the room size, being part of a hotel chain, connection to a subway station, the number of F&B restaurants, having a fitness center, the location score, if the room had undergone remodeling, satellite TV channel availability, and the soundproof facilities. However, there were other hotel attributes which did not significantly affect the room rate which were as follows; the number of rooms, the hotel grade, availability of a shuttle service, having a business center, having conference facilities, in room Wi-fi service, having a hot tub, pool, spa/sauna, and room service. Furthermore, analysis of data on week-days shows attributes which influence the room rate are as same as the attributes identified from whole data. Only soundproof facilities showed no significant influence. The result from analysis of weekend data revealed that Wifi service in the room was proven to give an additional significant influence on the room rate.

Citation status

* References for papers published after 2022 are currently being built.