Hotel room rate pricing strategy for market share in oligopolistic competition — eight-year longitudinal study of super deluxe hotels in Seoul

The contributions of economics to hospitality literature: A content analysis of hospitality and tourism journals

“…In analysing the hospitality research topics that fell under IO analysis, it was noted that the S-C-P paradigm, which postulates causal effects from the structure of a market to the conduct and performance of firms, was tested in a limited number of sectors. These sectors included the hotel and lodging sector whereby the market was assumed to operate under oligopoly (Chung, 2000;Davies, 1999;Davies and Donward, 1996) or monopolistic competition (Ellerbrock et al, 1984). The findings from these studies were generally inconclusive.…”

Pricing determinants in the hotel industry: Quantile regression analysis

“…Relatively few studies have addressed hotel pricing problems (Chung, 2000). Some studies have attempted to construct pricing models to maximize hotel revenue or profit.…”

“…Additionally, room prices varied depending on season, and the occurrence of trade events exhibitions or conferences. Kimes (1999), Chung (2000) and Cheung and Law (2001) used average room rate (ARR) as a proxy of hotel room price. This study also applied ARR as the dependent variable for empirical data.…”

Game theoretic pricing models in hotel revenue management: An equilibrium choice-based conjoint analysis approach

“…In the field of hospitality a number of equilibrium pricing models have been proposed, with notable contributions from Baum and Mudambi (1995), Chung (2000), Friesz, Mookherjee, and Rigdon (2005), Gu (1997), Guo et al (2013), Pan (2006), Schwartz (1996), Huang (2009), Wachsman (2006), and Yang, Huang, Song, and Liang (2008). However, this body of knowledge suffers from some obvious limitations from a hotel marketing and business practice perspective, in as much as it relies on conventional price theory e 'both as a paradigm for guiding theoretical model development and as a conceptual framework for steering empirical efforts' (Diamantopoulos & Mathews, 1995, p. 19).…”