Rights statement: This is the author’s version of a work that was accepted for publication in Tourism Management. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Tourism Management, 69, 2018 DOI: 10.1016/j.tourman.2018.05.008
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Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Measuring hotel performance
T2 - Toward more rigorous evidence in both scope and methods
AU - Assaf, A. George
AU - Tsionas, Mike
N1 - This is the author’s version of a work that was accepted for publication in Tourism Management. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Tourism Management, 69, 2018 DOI: 10.1016/j.tourman.2018.05.008
PY - 2018/12
Y1 - 2018/12
N2 - This paper extends the literature on hotel performance in both scope and methods. We introduce a model that accounts for heterogeneity in a flexible way and allows for the measurement of both efficiency and productivity. The model also accounts for the endogeneity problem in inputs and the issue of unobserved prices. We use a large sample of hotel companies that spreads across multiple geographical regions and locations, and accounts for some interesting and key determinants of hotel performance. We provide more validation to some contradictory findings in the literature. We show that large hotels do not necessarily outperform small hotels, and that hotel efficiency differs based on location, geographical region and type of service. The results further indicate that productivity growth is not a driving force in the industry.
AB - This paper extends the literature on hotel performance in both scope and methods. We introduce a model that accounts for heterogeneity in a flexible way and allows for the measurement of both efficiency and productivity. The model also accounts for the endogeneity problem in inputs and the issue of unobserved prices. We use a large sample of hotel companies that spreads across multiple geographical regions and locations, and accounts for some interesting and key determinants of hotel performance. We provide more validation to some contradictory findings in the literature. We show that large hotels do not necessarily outperform small hotels, and that hotel efficiency differs based on location, geographical region and type of service. The results further indicate that productivity growth is not a driving force in the industry.
KW - Hotel performance
KW - Efficiency
KW - Productivity
KW - Heterogeneity
KW - Bayesian stochastic frontier
U2 - 10.1016/j.tourman.2018.05.008
DO - 10.1016/j.tourman.2018.05.008
M3 - Journal article
VL - 69
SP - 69
EP - 87
JO - Tourism Management
JF - Tourism Management
SN - 0261-5177
ER -