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on Tourism Economics |
| By: | Yoko Konishi (Research Institute of Economy, Trade and Industry, Tokyo) |
| Abstract: | Tourism was one of the sectors most damaged by COVID-19. The number of inbound tourists plummeted, and domestic travellers were forced to refrain from traveling for long periods due to the number of infections. This paper analyses the impact of policies (e.g. the ‘Go To Travel’ campaign) on tourism demand and the number of infected people on changes to business conditions at small and medium-sized lodging facilities by prefecture. We found that tourism policies increased demand for popular tourist destinations, but infections subsequently expanded, lowering business confidence. In addition, when the number of infected people was high at the time of the policy, as is the case in Okinawa and Hokkaido, business confidence did not recover. It was also found that inbound tourists stayed in all parts of Japan before the pandemic, but they were concentrated in large cities with airports during the pandemic. |
| Keywords: | business sentiment, SMEs, tourism demand, COVID-19 |
| JEL: | L84 R11 Z31 Z38 |
| Date: | 2024–05–07 |
| URL: | https://d.repec.org/n?u=RePEc:era:wpaper:dp-2024-05 |
| By: | Celal Erdogdu; Kerem Yavuz Arslanli |
| Abstract: | Valuing hotel properties requires a comprehensive understanding of dynamic pricing strategies, market dynamics, investment value drivers, and valuation methodologies. This process is critical for investors and hotel managers to make informed decisions on room pricing and overall hotel investment strategies. This study examines the changes in per-room rates of hotels in Turkey between 2018 and 2023, specifically assessing changes by star class and the impact of the COVID-19 pandemic on resort and city hotels. Our research analyzes in detail the impact of the pandemic on pricing strategies in the hotel industry and the price sensitivity of hotels by star class. Our findings provide valuable insights for hotel operators, investors, and tourism policymakers and provide recommendations for more effective pricing strategy planning in the industry. |
| Keywords: | Hotel; Room; Turkey; Valuation |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-229 |