Despite the importance of collaborative accommodation in practically every tourist destination, to date, the majority of studies have focused on large cities and urban destinations. This article distinguishes the factors that explain the added value of the Airbnb properties, differentiating between urban and sun and beach holiday destinations.To do this, nine destinations from one of the most important European tourism regions have been studied using a hedonic pricing model that includes variables related to the characteristics of the properties and others that define the online reputation of the hosts and properties and the tourism environment. The results reveal that the sharing economy fosters the emergence of private rentals, expanding the overall size of the accommodation market with some clear differences between the two types of tourist destinations, which emphasize the idea that the decisions made by stakeholders should be considered from a local perspective.

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This study analyses the size, efficiency and productivity of a representative sample of Spanish hotels. Using Data Envelopment Analysis, three different return-to-scale models are estimated. The number of full-time employees (FTEs), the staff cost and the number of rooms (inputs) and the total operating revenue (output) are used to estimate the levels of efficiency and productivity. The results show that independent properties must be more competitive if they are to survive in the medium and long terms. Three elements are essential to achieve greater competitiveness: (i) a higher level of differentiation; (ii) application of the results of technological innovation in the production process; and (iii) a more intensive level of cooperation.

This article analyses the indebtedness of the companies belonging to the Spanish hotel industry. The internationalization process of Spanish hotel companies requires a new approach to their financial strategies. The form of expansion chosen in this process has an impact on the pace and volume of the funds needed for it. Other items are incorporated to observe different behaviour among hotel companies in relation with their indebtedness process. Among analysed factors, we can observe the importance of solvency, liquidity, and asset structure. The hotel industry's means to explain individual indebtedness is also relevant, demonstrating the fact that firms usually follow the sector's benchmark when determining the level of indebtedness. Studies such those of Grinblatt and Titman (2003) or Frank and Goyal (2009) confirm this same hypothesis.

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