The popularity of Airbnb has significantly affected the hotel industry. One of Airbnb's fundamental value propositions is the concept of authenticity, but the hospitality and tourism literature is ...scant regarding what constitutes an authentic consumption experience in the lodging industry and how such authenticity generates brand loyalty. This study identifies two distinct pathways through which an authentic consumption experience influences brand loyalty for the leisure traveler: a brand pathway and an experience pathway. We find that hotels and Airbnb leverage these pathways differently to generate brand loyalty. These findings have implications for hotels and Airbnb in terms of guest loyalty.
•Authenticity of the consumption experience a key differentiator for sharing economy providers in accommodations.•Little research in the hospitality literature on the components and consequences of authentic consumption experiences.•Study develops a model of consumption authenticity and identifies, operationalizes, and measures its components.•Identifies two distinct pathways through which consumption authenticity influences brand loyalty.•Hotels and Airbnb leverage the pathways differently in generating brand loyalty.
Corporate investments are expected to create value for firms. Although some studies report evidence supporting such expectations, many studies document contradictory findings. However, it is not ...clear why corporate investments create value in some firms but reduce value in others. The purpose of this study is to examine the extent to which the quality of corporate governance and the degrees of financial constraints affect the relationship between corporate investments and hotel firm value in a unified model where both weak corporate governance and financial constraint problems are concurrently observed. Shareholders of poorly governed firms place a lower value on corporate investments compared with those of well-governed firms, whereas shareholders of financially constrained firms perceive corporate investments to be of greater value compared with those of unconstrained firms. The results further showed that CEOs of financially constrained firms make value-increasing investments despite poor corporate governance mechanisms. Theoretical and practical implications are discussed within the realm of corporate finance theories.
This study examines how 527 patients across different health states assessed the influence of hotel-like attributes on their well-being. Using theoretical mechanisms of attention restoration ...underlying restorative servicescapes, we postulated that hotel-like products and services will enhance patients’ perceived well-being, which, in turn, will favorably affect their behavioral intentions. We also tested an alternative model that included additional direct relationships between hotel-like products and services and behavioral intentions, based on the tenets of cue utilization theory. After conducting a series of nested model comparison procedures, we confirmed that the alternative model provided a theoretically and empirically stronger explanation for the dynamics of hotel-like restorative servicescapes. Although the differences between less healthy and more healthy patients were not statistically significant, the less healthy group demonstrated the same pattern of relationships as in the overall model, indicating that such patients may be more likely to derive greater restorative benefits from hotel-like hospital rooms, which may also make them more likely to pay higher out-of-pocket expenses for such rooms. The study furthers the empirical research agenda on evidence-based design (EBD) and the role of hospitality in health care.
The relationship between tourism development, economic growth, renewable energy consumption, and carbon dioxide emissions has been examined in a variety of contexts; however, the extant studies ...report contradictory findings mainly due to utilizing arbitrary empirical techniques. We present a comprehensive literature review and the effects of tourism development, economic growth, and renewable energy consumption on the carbon dioxide (CO
2
) emission. Specifically, the effects of gross domestic product, renewable energy consumption, and tourism receipts on carbon dioxide emissions in OECD countries are examined utilizing the bootstrap panel cointegration technique and the augmented mean group estimator. The results showed that tourism development has negative and significant effects on CO
2
emission in Canada, Czechia, and Turkey, while tourism development has positive and significant effects on CO
2
emission in Italy, Luxembourg, and the Slovak Republic. Also, Belgium, France, New Zealand, and the Slovak Republic have shifted towards sustainable tourism practices. Theoretical and practical implications are discussed.
Although Airbnb's impact on hotels has been quantified for major hotel markets in the United States, these effects have not been quantified in international hotel markets. Accordingly, the purpose of ...this study is to examine the effects of Airbnb listings on key hotel performance metrics in an international context. In particular, we examine the effects of Airbnb listings on hotel revenue per available room (RevPAR), average daily rate (ADR), and occupancy rate (OCC) in major international hotel markets, namely London, Paris, Sydney and Tokyo. The results show that Airbnb listings in these major cities have been increasing more than 100% year over year and that the effect of Airbnb on hotel RevPAR and OCC is negative and statistically significant. In particular, a 1% increase in Airbnb listings decreases hotel RevPAR by between 0.016% and 0.031% in these hotel markets. The implications of these findings for destinations and hoteliers are discussed.
•The effect of Airbnb on hotels has not been quantified in international hotel markets.•We examine the effects of Airbnb listings on RevPAR, ADR, OCC in London, Paris, Sydney and Tokyo.•Airbnb listings in these major cities have been increasing more than 100% year over year.•A 1% increase in Airbnb listings decreases hotel RevPAR by between 0.016% and 0.031% in these hotel markets.
While the large-scale harvesting of consumer data is a common practice in the hospitality and tourism industries, the seemingly unassailable right of companies to collect and share consumer data is ...not without critics. The purpose of this paper is to explore the nature of data-based value co-creation under varying conditions of consumer control and benefits. Academic and press articles were used to explore the nature of big data value co-creation in a wide range of hospitality, tourism, and other industries. A forward-looking approach was adopted by considering the implications of policy and technology as key mechanisms for sharing the power dynamic regarding the ownership, control and use of personal data. The results suggest that reciprocal big data value creation can be seen as a function of the level of benefit and control afforded to consumers regarding the use of their data. Four types of reciprocal big data value creation are proposed.
•The issues associated with large-scale data harvesting are reviewed.•Big-data is conceptualized as a value catalyst in the hospitality/tourism industries.•A conceptualization of reciprocal big data value is discussed.•A control/benefits typology of big data value reciprocation is proposed.•Creating reciprocal big data value is discussed in terms of technology and policy.
A theoretical model was formulated based on cognitive-appraisal and bottom-up spillover theories and tested with structural equation modeling across two groups of residents—with and without prior ...experience staying at an Airbnb (as a guest). Results indicated that residents with prior experience staying at an Airbnb had significantly higher levels of emotional solidarity with visitors to their neighborhood, more positive emotions toward Airbnb hosts, and perceived that Airbnb visitors impacted community well-being and personal quality of life more positively, compared with residents without prior experience staying at an Airbnb. Moreover, the relationship between emotional solidarity and perceived community well-being was significantly stronger for residents with prior experience staying at Airbnb in addition to the significantly weaker relationship between negative emotions and community well-being. These results point to the importance of prior experience staying at Airbnb (as a guest) as a moderator in the formation of residents’ emotions and perceptions related to Airbnb hosts and visitors in their neighborhood.
During the COVID-19 pandemic, many restaurants faced a shift from a dine-in based service model to a takeout-based model. As a result of the qualitative differences between dine-in and take-out ...experiences, there was a corresponding change in customers’ electronic word of mouth (EWOM) behavior. While pre-pandemic EWOM behavior relied on dine-in specific factors such as décor, lighting, and employee interactions, take-out dining relies less on these types of atmospheric elements to drive post-consumption evaluations. Accordingly, the purpose of this research was to explore the drivers of take-out dining EWOM by examining the effects of altruism, self-enhancement, and restaurant affiliation. Using the psychological framework of Underdog Theory, the results showed that both self-enhancement and altruistic motives result in positive EWOM, but that this relationship was moderated in important ways based on whether the restaurant was independently owned or part of a chain.
The purpose of this study is to investigate the competitiveness of tourism destinations, worldwide, utilizing a regional economic policy tool known as the shift-share analysis. The changes in tourist ...arrivals, tourism receipts, and per-tourist-dollars of each country are assessed and compared with the overall tourism development across 150 countries in the world using a 17-year period (2000-2017). The findings indicate that Japan, Thailand, and Turkey are the most competitive countries when tourist arrivals are specified, but Turkey drops to the least competitive country when tourism receipts are specified as the base indicator. Thailand and Japan rank among the most competitive destinations based on their tourism receipts. Yet further results show that Luxembourg is the most competitive country, demonstrating the largest growth in per-tourist-dollar. Overall, results imply that the competitiveness of the countries and regions vary based on the aggregated measure of tourism development, suggesting that destinations need to focus on growth mechanisms and capitalize on their tourism potential. Practical implications are discussed.
This study investigates the effect of COVID-19-induced uncertainty on the overall stock market and the stock performance of the tourism and hospitality industry and its subsectors utilizing a novel ...time-varying robust Granger causality test. The results show that the COVID-19 pandemic–induced uncertainty has an adverse impact on the overall economy, tourism and hospitality industry, and subsectors of tourism and hospitality. However, the impact of COVID-19 pandemic–induced uncertainty is more significant in the tourism and hospitality industry and its subsectors. In particular, hotels sector has experienced the largest impact from the COVID-19 pandemic, followed by restaurants and airline sectors, respectively. Research and practical implications are discussed.
JEL Classification: C1, C5, F2, G11, G17, G41
