Price of Location: The Private versus Commercial Accommodation in Selected European Cities

• Název práce v češtině: Cena lokace: ; Soukromé versus komerční ubytování ve vybraných evropských městech
• Název v anglickém jazyce: Price of Location: ; The Private versus Commercial Accommodation in Selected European Cities
• Klíčová slova: krátkodobé ubytování, ekonomika turismu, metoda hedonické ceny, metoda nejmen�ích čtverců, poloha, evropská města
• Klíčová slova anglicky: short-term accommodation, tourism economics, hedonic pricing model, OLS regression, location, European cities
• Akademický rok vypsání: 2014/2015
• Typ práce: bakalářská práce
• Jazyk práce: angličtina
• Ústav: Institut ekonomických studií (23-IES)
• Vedoucí / školitel: Ing. David Kocourek
• Řešitel: skrytý - zadáno vedoucím/školitelem
• Datum přihlášení: 29.06.2015
• Datum zadání: 29.06.2015
• Datum a čas obhajoby: 14.06.2016 08:00
• Místo konání obhajoby: IES, m 314
• Datum odevzdání elektronické podoby: 13.05.2016
• Datum proběhlé obhajoby: 14.06.2016
• Oponenti: Mgr. Jindřich Matoušek, Ph.D.

Předběžná náplň práce v anglickém jazyce

Topic characteristics:
Every year the tourism industry expands at a quick pace. The aim of the thesis is to analyse the main determinants of prices in commercial and private accommodation. There are a lot of variables influencing the price of residential properties. We would like to mention for example review, score, subway accessibility, available services, size of the rooms, internet connection, proximity from the centre, parking places, etc. This study will provide comparison of apartments and hotels in selected metropolitan cities from the geographical point of view. The location of the accommodation is one of the most important determinants for tourists. Their willingness to pay more for better-located accommodation arises from the opportunity cost of spending time in public transport. Therefore, we would like to focus on the relationship between the final price of the hotel/apartment and the proximity from the city centre.

Hypotheses:

Apartments and hotels are most expensive in the city centre. What is the relationship between the price and the location and what is the rate of drop in prices? Are the hotel prices in the same geographical location higher? Does services play significant role when consumers choose the short-term accommodation? Are people willing to pay more for extra services included? Does people perceive the distance from the metro station differently if the accommodation is in the city centre?

Methodology:

Pre-survey (literature review), obtain big data for the cross-sectional regression from the online short-term accommodation intermediaries, econometric analysis (cross-sectional regression) for testing the hypothesis and answer questions relating to the trends in tourism

Outline:

1. Introduction
2. Literature review
3. Description of data and model
4. Estimation results
5. Conclusion

Literature:

ALEGRE, Joaquín; CLADERA, Magdalena; SARD, Maria. Tourist areas: Examining the effects of location attributes on tour-operator package holiday prices. Tourism Management, 2013, 38: 131-141.
ASHLEY, Caroline, et al. The role of the tourism sector in expanding economic opportunity. John F. Kennedy School of Government, Harvard University, 2007.
DWYER, Larry, et al. Economics of tourism. Goodfellow Publishers, 2011.
JUANEDA, Catalina; RAYA, Josep Maria; SASTRE, Francesc. Pricing the time and location of a stay at a hotel or apartment. Tourism Economics, 2011, 17.2: 321-338.
MALPEZZI, Stephen, et al. Hedonic pricing models: a selective and applied review. Section in Housing Economics and Public Policy: Essays in Honor of Duncan Maclennan, 2003.
WOOLDRIDGE, Jeffrey M. Introductory econometrics: a modern approach. 5th ed., international ed. Melbourne: South-Western Cengage Learning, 2013. ISBN 978-111-1534-394.
YANG, Yang; WONG, Kevin KF; WANG, Tongkun. How do hotels choose their location? Evidence from hotels in Beijing. International Journal of Hospitality Management, 2012, 31.3: 675-685.