서울 특1급 호텔들의 수익관리 및 가격경쟁에 대한 탐색적 공간분석

Although revenue management for hotels implies continuous room rate adjustments according to expected occupancy, pricing to demand for hotels without monopoly power may lead to price competition. Therefore, it is expected that the effects of revenue management and price competition are inseparable in determining room rates, despite the lack of research in this area. This study explores the interrelationship between revenue management and price competition. This study conducted exploratory spatial data analysis of the effects of revenue management and price competition on room rates by applying spatial econometric model to the price panel data from super-deluxe hotels in the metropolitan Seoul region. Three important findings emerge from the spatial econometric analysis. First, price competition in online hotel market is conditional on entry and exit of hotels. Second, the degree of price competition among hotels in greater Seoul region is low, considering the amount of room rate discount. Third, greater room rate variance is attributed to revenue management than price competition in determining the room rates of Super-Deluxe hotels in Seoul. From the findings this study rehighlights the importances of revenue management as a determinant of room rate, and the possibility of price competition in application of revenue management.