A Nash bargaining model for average daily rates

Author: Pan, Chih-Min

Source: Tourism Economics, Volume 12, Number 3, September 2006 , pp. 469-474(6)

Publisher: IP Publishing Ltd

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Abstract:

This paper develops a Nash bargaining model to study the average daily rate per rented hotel room. It then examines the model with data from international tourist hotels in Taipei, Taiwan. The empirical results indicate that: (1) an increase in the percentage of rented rooms taken by independent travellers (the independent traveller ratio) could significantly raise the average daily rate; (2) the average daily rate paid by independent travellers is significantly higher than that paid by group travellers; and (3) any improvement of hotel operators' relative bargaining power in relation to independent or group travellers will significantly raise hotels' average daily rates.

Keywords: AVERAGE DAILY RATE; GROUP TRAVELLER; INDEPENDENT TRAVELLER; NASH BARGAINING; TAIWAN

Document Type: Research Article

DOI: http://dx.doi.org/10.5367/000000006778493655

Publication date: September 1, 2006

More about this publication?
  • Tourism Economics, published bimonthly, is a peer-reviewed journal devoted to the economics and finance of tourism worldwide. Articles address the components of the tourism product (accommodation; restaurants; merchandizing; attractions; transport; entertainment; tourist activities); and the economic organization of tourism at micro and macro levels (market structure; role of public/private sectors; community interests; strategic planning; marketing; finance; economic development).

    Fast Track. Tourism Economics Fast Track papers have been peer-reviewed, revised and fully accepted for publication. However, although these are the final versions from the authors, they are unedited manuscripts and will undergo a rigorous editing process before their appearance in an issue of the journal. This means that the Fast Track manuscripts may not conform to journal style in terms of presentation, spelling and other usages. They may also contain errors of typography, grammar, spelling, referencing, etc, all of which will be corrected in the processes of copy-editing and proofreading.
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