Journal article

Publication year: 2014

Pages: 21-28

Journal: International Journal of Hospitality Management

Volume number: 39

ISSN: 0278-4319

DOI Link: https://doi.org/10.1016/j.ijhm.2014.01.006

Publisher: Elsevier

Abstract: 
Surprisingly few studies deal with the implications of large events for hotel prices. We address this issue by modeling hotel prices in Munich under the influence of the Oktoberfest. By utilizing internet data from a metasearch provider for check-in dates prior to and during the Oktoberfest 2012, it is analyzed how the event affected the daily price level as well as price differentials between hotels. In general, average hotel prices are very volatile over time. Apparently, Munich hotels tend to set prices according to expected demand and vary those depending on the day of the week during the event. Ceteris paribus, roomrates are highest on Oktoberfest Friday and Saturday nights, followed by Oktoberfest weekdays and Oktoberfest Sunday nights, but there is a general and strong price-raising impact. Prices differ across hotels mainly due to the star category attributed to a hotel and the proximity to the event. Both price premia are time-dependent. (C) 2014 Elsevier Ltd. All rights reserved.

Harvard Citation style: Herrmann, R. and Herrmann, O. (2014) Hotel roomrates under the influence of a large event: The Oktoberfest in Munich 2012, International Journal of Hospitality Management, 39, pp. 21-28. https://doi.org/10.1016/j.ijhm.2014.01.006

APA Citation style: Herrmann, R., & Herrmann, O. (2014). Hotel roomrates under the influence of a large event: The Oktoberfest in Munich 2012. International Journal of Hospitality Management. 39, 21-28. https://doi.org/10.1016/j.ijhm.2014.01.006