scholarly journals Cruise tourism: a hedonic pricing approach

2018 ◽  
Vol 27 (1) ◽  
pp. 101-122 ◽  
Author(s):  
Josep Maria Espinet-Rius ◽  
Modest Fluvià-Font ◽  
Ricard Rigall-Torrent ◽  
Anna Oliveras-Corominas
Keyword(s):  
Hedonic Pricing ◽  
Point Of View ◽  
Hedonic Price ◽  
Content Type ◽  
Cruise Industry ◽  
Tourism Sector ◽  
Cruise Tourism ◽  
Departure Date ◽  
New Research ◽  
Different Characteristics

Purpose The purpose of this paper is to examine the effect on price of different cruise industry characteristics from the point of view of actual prices. The analysis is carried out from the supply side but taking into account the real prices paid by customers. Design/methodology/approach This paper uses the hedonic price methodology. To develop this research, a database of more than 36,000 prices paid by cruise passengers and different characteristics of ships in 2013 was built. To obtain the results, ten models have been developed with significant adjusted R2 of between 0.85 and 0.93 making the models and results robust. Findings The results show that the main attributes affecting prices are the number of nights of the itinerary, the departure date, the number of days before departure the booking is made, the accommodation type and some facilities, such as casinos, cinemas and swimming pools. The results also yield a ranking of ship companies based on price and quality dimensions. Finally, the authors suggest some implications for management and new research. Originality/value This paper offers a new approach in the academic literature of the cruise industry in two respects. First, in its use of a broad database of actual prices paid by passengers – more than 36,000 observations. Second, in the application of the hedonic pricing methodology, widely used in the tourism sector (see the Methodology and Database section) but until now not in the cruising segment.

scholarly journals The country of origin effect: a hedonic price analysis of the Chinese wine market

2018 ◽  
Vol 120 (6) ◽  
pp. 1264-1279 ◽  
Author(s):  
Lala Hu ◽  
Andrea Baldin
Keyword(s):  
Country Of Origin ◽  
Hedonic Pricing ◽  
Policy Implications ◽  
Reduced Form ◽  
Future Research ◽  
Primary Role ◽  
Hedonic Price ◽  
Content Type ◽  
Hedonic Price Analysis ◽  
Price Analysis

PurposeThe purpose of this paper is to analyse the country of origin (COO) effect on wine purchase in China by considering a sample from an e-commerce website. The paper contribute to the literature on hedonic pricing by applying this model to the Chinese market and including COO as product attribute.Design/methodology/approachA hedonic price model is adopted to measure the effect of search attributes on wine sales in China. A reduced form of the classical hedonic analysis is used as in Nerlove (1995), given the assumption that prices and attributes are taken as exogenous to consumers.FindingsResults show that the COO represents the attribute that most influences wine sales in China. Protected indicators of origin, which denote wine with recognised certificates, are also significant, reinforcing the importance of the production area. Vintage attribute does not impact sales, suggesting a low level of consumer experience with wine.Research limitations/implicationsThe study suffers from the limitations of results’ generalisability, given the size and characteristics of the sample. In the future research, the model should be tested on a larger sample. Moreover, it can be applied on other products, in which COO represents an information and quality cue.Practical implicationsFirms operating in sectors where COO implies specific characteristics of quality should enhance this attribute in their marketing strategies to increase their competitive advantage. Also policy implications with respect to the governmental actions to support wine producers are discussed.Originality/valueHedonic price analysis represents a well-established model; however, to the best of the authors’ knowledge it has never been used in China before. This study also highlights the primary role of COO as search attribute in wine purchase.

Exclusive corporate philanthropy: rethinking the nexus of CSR and corporate philanthropy

2016 ◽  
Vol 12 (2) ◽  
pp. 280-294 ◽  
Author(s):  
Georg von Schnurbein ◽  
Peter Seele ◽  
Irina Lock
Keyword(s):  
Corporate Philanthropy ◽  
Point Of View ◽  
Future Research ◽  
Special Role ◽  
Theoretical Point ◽  
Bottom Line ◽  
Content Type ◽  
Different Characteristics ◽  
Relationship Of ◽  
The Relationship

Purpose The purpose of this paper is to add to a better understanding of relationship of corporate social responsibility (CSR) and corporate philanthropy. The authors argue that corporate philanthropy is exclusive to CSR because of their different characteristics. Design/methodology/approach This paper is based on a profound literature review and discusses the relationship of CSR and corporate philanthropy from a theoretical point of view. By conceptually combining the CSR pyramid and the triple bottom line approach, the authors show that corporate philanthropy has a special role outside of the classical CSR concept. Findings Four fundaments of corporate philanthropy – economic, motivational, creative and moral – are described that illustrate the importance and outstanding role of corporate philanthropy for today’s businesses. Based on these, the authors formulate three new forms of corporate giving, volunteering and foundations, which the authors subsume under the novel notion of “exclusive corporate philanthropy”. Research limitations/implications The main contribution of this paper for future research is to regard corporate philanthropy as exclusive to CSR. Future studies might, therefore, consider the different characteristics of corporate philanthropy and engage in an empirical investigation of this new type. Practical implications The model of exclusive corporate philanthropy presented in this paper provides practitioners with a better understanding of how corporate philanthropy can be rolled out today. Originality/value This paper offers a new perspective on the relationship of CSR and corporate philanthropy. Based on the economic, motivational, creative and moral characteristics of corporate philanthropy, the authors establish a clear distinction between the two concepts.

Property valuation: the hedonic pricing model: the application of search-and-matching models

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gaetano Lisi
Keyword(s):  
Hedonic Pricing ◽  
Matching Theory ◽  
Hedonic Price ◽  
Search And Matching ◽  
Pricing Models ◽  
Content Type ◽  
Price Function ◽  
Hedonic Price Function ◽  
Search And Matching Models ◽  
Matching Models

PurposeThe aim of this education briefing is to comment upon how basic hedonic pricing models for the valuation of property can be expanded and developed. In this case, the briefing illustrates the use of the new economic approach to the analysis of housing markets, namely the search-and-matching models.Design/methodology/approachThis education briefing discusses the connection of two important economic theories: the hedonic price theory and the search-and-matching theory.FindingsThis education briefing gives an example of a (non-linear) form of the hedonic price function.Practical implicationsIn cases of mass appraisals, hedonic pricing models can provide a broad indication of value across submarkets and this education briefing demonstrates a theoretical model that can be used to provide a theoretical groundwork for the use of a concave hedonic price function in empirical estimates.Originality/valueThis education briefing shows how basic hedonic pricing models can be enhanced by a search-and-matching approach to determine property values.

Market values for olive oil attributes in Chile: a hedonic price function

2015 ◽  
Vol 117 (1) ◽  
pp. 358-370 ◽  
Author(s):  
Rodrigo Romo Muñoz ◽  
Mario Lagos Moya ◽  
José M. Gil
Keyword(s):  
Olive Oil ◽  
Emerging Market ◽  
Hedonic Pricing ◽  
Model Estimation ◽  
Hedonic Price ◽  
Content Type ◽  
Price Function ◽  
Market Values ◽  
Hedonic Price Function ◽  
The City

Purpose – Focused on the olive oil sector in Chile which is a non-traditional market (both in production and consumption), the purpose of this paper is to determine the implicit value of the most relevant attributes of olive oil on the final price charged by supermarkets to consumers through the hedonic pricing methodology. Design/methodology/approach – Field work was carried out between September and October 2012 in 12 supermarkets belonging to the four most important Chilean retail chains. A log-linear price-attribute function was used to estimate the hedonic price function. The sample included 248 observations olive oil prices available to consumers in the leading supermarkets in the city of Chillán (Chile). Findings – The model estimation results led to the observation that the attributes that most positively influenced final price are oil acidity level, tin can container of imported oil, and origin. On the other hand, the attributes that most negatively influenced final consumer price are retailer house brand and plastic container. Research limitations/implications – A limitation of this study is associated with the geographic area where it was carried out, that is, the city of Chillán in the Bío-Bío Region, which is the second largest region and accounts for 12 per cent of the total population. Further research should include other cities such as Santiago (capital), Concepción, Curicó and Valparaíso. Originality/value – This study can be considered as a first approximation of a hedonic pricing model estimation for olive oil in non-traditional markets like Chile, which is considered an emerging market.

The growth and development of the cruise sector: a perspective article

2019 ◽  
Vol 75 (1) ◽  
pp. 130-135 ◽  
Author(s):  
Alexis Papathanassis
Keyword(s):  
Growth Rates ◽  
Historical Analysis ◽  
Air Transportation ◽  
Content Type ◽  
The Past ◽  
Current Trends ◽  
Tourism Sector ◽  
Cruise Tourism ◽  
Technological Developments ◽  
Potential Risks

Purpose The cruise sector has undergone a significant transformation over the past decades, rendering it amongst the fastest growing tourism segments. Nevertheless, cruise holidays represent a relatively small fraction of the entire tourism sector; and so do their economic impacts and externalities. The cruise business has emerged as a result of technological developments in passenger air-transportation and the resulting decline of passenger-shipping. While the increased visibility and over-exposure of its market and product developments may have enabled the re-invention and growth of the cruise sector, they are also amplifiers for its economic and sustainability risks. The purpose of this paper is to relativise both the potential risks and benefits to contribute to more pragmatism in future destination development investments and policies. Design/methodology/approach Based on a brief historical analysis of cruising and current trends, a realistic future is painted where the passenger and capacity growth rates of cruise tourism gradually level out. Findings Moreover, the cruise business becomes increasingly technologically driven to maintain profitability and establish its position in the wider experience portfolio of holiday consumers. Originality/value Traditionally, the relevance argument for cruise tourism research is based on the reported sector's growth rates and corresponding impacts, positive and negative, on destinations. Yet, the mere reproduction of growth rates and passenger numbers in isolation may well foster a misconception and even an overstatement of the cruise sector's significance and role within the wider tourism context. Arguably, the historical analysis and the comparative statistics contained in this paper paint a much-needed realistic picture and contribute to a deeper understanding of the sector's current dynamics.

Trends in hotel pricing

2016 ◽  
Vol 8 (6) ◽  
pp. 691-698 ◽  
Author(s):  
Conceição Castro ◽  
Fernanda A. Ferreira ◽  
Flávio Ferreira
Keyword(s):  
Willingness To Pay ◽  
Critical Role ◽  
Hedonic Pricing ◽  
Least Square ◽  
Added Value ◽  
City Centre ◽  
Hedonic Price ◽  
Content Type ◽  
Hotel Room ◽  
The Impact

Purpose The aim of this paper is to analyze and compare the effect of different hotel characteristics and room attributes on room rates of hotels in the cities of Lisbon and Porto, the capital and second most important city in Portugal. Design/methodology/approach Using the hedonic pricing method, hotel characteristics are decomposed and analyzed, giving us the perception of the impact of each hotel attributes on the room rates and the people’s willingness to pay for this. Ordinary least square regression analysis was applied to the hedonic price model to find which variables could explain differences in the hotel room rates in Lisbon and Porto. Findings The results suggest that in Lisbon and in Porto, a number of common characteristics have significant effects on consumer willingness to pay for a stay in a hotel as star rating, consumer rating and the room size. In Porto, the existence of a fitness centre and in Lisbon, the distance to the city centre are also attributes that create a premium in room rates. Practical implications The knowledge of the most valued characteristics by consumers is an important tool for hotel managers to define a price strategy. Also important is the knowledge of the attributes that provide more added value for consumers as these should be taken into account in new investment decisions. Originality/value This study highlights the implications of the way one defines and measures qualitative hotel characteristics in hedonic pricing. Although the hedonic method has been applied in several studies, to our knowledge, in Portugal, there are few studies applied only to hotel room rates, and there are no studies comparing hotel room rates in different Portuguese cities. Moreover, the research highlights the critical role of a proper definition and measurement of the variables in hedonic pricing in general and the hotel star in particular.

Building a model of researching the sustainable entrepreneurship in the tourism sector

Kybernetes ◽  
2014 ◽  
Vol 43 (3/4) ◽  
pp. 377-393 ◽  
Author(s):  
Katja Crnogaj ◽  
Miroslav Rebernik ◽  
Barbara Bradac Hojnik ◽  
Doris Omerzel Gomezelj
Keyword(s):  
Policy Making ◽  
Initial Step ◽  
Point Of View ◽  
Levels Of Analysis ◽  
Future Research ◽  
Sustainable Entrepreneurship ◽  
Content Type ◽  
Requisite Variety ◽  
Long Run ◽  
Tourism Sector

Purpose – The tourism sector is heavily dependent on entrepreneurship and cannot survive in the long run if it is not both sustainable and entrepreneurial at the same time; these three areas – entrepreneurship, sustainability, and tourism – are rarely linked in research and are not reflected in appropriate policy-making measures. Thus, the purpose of this paper is to develop a conceptual multilevel model that will provide a requisitely holistic means for studying sustainable entrepreneurship in the tourism sector. Design/methodology/approach – In the process of developing a model, the authors took into account the principle of requisite variety and considered various dimensions related to sustainable entrepreneurship implicated at three levels of analysis – namely, individual (entrepreneur), organizational (SME), and national/regional (tourism destination). Findings – The proposed model provides systemic and systematic views on sustainable entrepreneurship in the tourism sector and contains various levels of analysis. The holistic framework for studying sustainable entrepreneurship in the tourism helps highlight influential elements from an economics point of view as well as their measurable and internationally comparable outcomes. Originality/value – The suggested model represents an initial step toward the measurement of sustainable entrepreneurship in tourism at various levels, thereby making a valuable contribution to future research designs seeking to evaluate the benefits of sustainable entrepreneurship. The paper provides an important foundation for evidence-based policy making with the aim of fostering requisitely holistic behavior and innovative, responsible, and sustainable entrepreneurship practices in the tourism sector.

scholarly journals Strategic positioning analysis of Spanish cruise ports

2017 ◽  
Vol 2 (2) ◽  
pp. 158-170 ◽  
Author(s):  
Jeronimo Esteve-Perez ◽  
Antonio Garcia-Sanchez
Keyword(s):  
Design Methodology ◽  
Coastal Areas ◽  
Point Of View ◽  
Behavioural Pattern ◽  
Strategic Positioning ◽  
Content Type ◽  
Cruise Industry ◽  
Industry Sector ◽  
The Past ◽  
Positioning Analysis

Purpose Cruise traffic has dynamically advanced worldwide over the past two decades. This maritime business and tourism typology is strongly concentrated in several links that comprise the cruise product. With regard to destination regions, the concentration occurs both in the few worldwide destination regions and in the specific ports within a given destination region. Moreover, in a cruise itinerary’s configuration, there is a strong spatial dependence between the ports that comprise it. Taking these into account, the aims of this paper are to identify the current competitive positions of Spanish cruise ports and to explain the different features of the competitive positions obtained. Design/methodology/approach A sample of 21 Spanish ports is selected to conduct a competitive positioning analysis. The analysis is developed by applying portfolio analysis based on the “growth-share matrix” adapted to the port industry. Moreover, the sample of ports is divided into three groups based on geographical positions of ports on the Spanish coast, and each group is analysed separately. Findings The three Spanish coastal areas have a behavioural pattern in which few ports concentrate the greater share of the cruising activity. The highest number of competitive positions are mature leader and high potential. In the three Spanish coastal areas, there are ports with these positions. Additionally, there are homeports available in the three coastal areas. Originality/value The paper contributes to the research of the cruise industry sector especially from the point of view of cruise ports. The results obtained may be useful to cruise port managers for developing strategies aimed at increasing cruise traffic in a port.

scholarly journals Responsible leadership and COVID-19: small Island making big waves in cruise tourism

2021 ◽  
Vol 17 (1) ◽  
pp. 118-131
Author(s):  
Paul Pounder
Keyword(s):  
Crisis Management ◽  
Common Good ◽  
Stark Effect ◽  
Current Knowledge ◽  
Integrated Approach ◽  
Small Island ◽  
Responsible Leadership ◽  
Content Type ◽  
Tourism Sector ◽  
Cruise Tourism

PurposeThe purpose of this paper is to explore responsible leadership and crisis management. Many sectors and economies have faced the stark effect of coronavirus; however, the damage done was felt more in some areas than others. Cruise tourism is one such sector dramatically affected, as it ground to a screeching halt in March 2020. This has led to crisis management, as passengers, cruise-line crew, large cruise companies and governments were now faced with a new reality as countries around the world closed their borders. This article aims at discussing in detail how responsible leadership, in the small island of Barbados, championed a response to support the cruise tourism sector and assist in managing the crisis.Design/methodology/approachThe author conducted a literature review on the current knowledge relating leadership and crisis management. Thus building a better understanding in the field and identifying gaps for making new arguments for best practices of leadership development in crisis management established in the cruise tourism sector. The author gave viewpoints based on the leadership style of the Prime Minister of Barbados.FindingsResponsible leadership is a style that has been best observed as one that emphasizes a commitment to the common good and provides a constructive societal impact. With this approach, the leaders navigated the uncertainty surrounding the crisis and provided fresh hope to future plans. Thus, the coronavirus was perceived in a positive way, producing opportunities for progress and change.Research limitations/implicationsBy developing an understanding of traditional leadership theories, it provides a framework for the adaptation of responsible leadership approach in crisis management. Moreover, the practice of responsible leadership in this COVID-19 era is shown to be crucial to crisis management and enhancing performance. Limitations on viewpoint are based on the author's philosophies.Practical implicationsThis paper provides a better understanding of the principles surrounding leadership and fashions a framework for discussing responsible leadership from a crisis management standpoint. The viewpoint provides an optimistic difference in managing a crisis.Social implicationsThe paper provides a better understanding of responsible leadership as an integrated approach to governance, ethics and social responsibility. The paper provides a basis to assess the intersection of the literature on leadership and crisis management.Originality/valueThis article contributes to the literature on responsible leadership within the context of crisis management.

scholarly journals Arctic expedition cruise tourism and citizen science: a vision for the future of polar tourism

2019 ◽  
Vol 6 (1) ◽  
pp. 102-111
Author(s):  
Audrey R. Taylor ◽  
Þórný Barðadóttir ◽  
Sarah Auffret ◽  
Annette Bombosch ◽  
Allison Lee Cusick ◽  
...  
Keyword(s):  
Citizen Science ◽  
Scientific Data ◽  
Tourism Industry ◽  
Environmental Data ◽  
The Arctic ◽  
Quality Data ◽  
Science Data ◽  
Content Type ◽  
Cruise Industry ◽  
Cruise Tourism

Purpose The purpose of this paper is to provide a conceptual framework for using citizen science – defined as a data collection method through which non-professionals engage in contributing to authentic scientific inquiry – within the expedition cruise industry to contribute significantly to the collection of environmental data from hard-to-access Arctic areas. Design/methodology/approach The authors review trends in Arctic expedition cruise tourism and current needs in Arctic research and monitoring, and clarify where the expedition cruise tourism industry could have the most impact by providing data to the scientific community. The authors also compare the regulatory context in the Antarctic to that in the Arctic and discuss how these differences could affect the widespread use of citizen science. At last, the authors describe some general principles for designing citizen science programs to be successful on board, and highlight several existing programs that are being recognized for their contributions to a greater scientific understanding of the Arctic. Findings The authors find that citizen science data from the expedition cruise industry are underutilized as a tool for monitoring Arctic change. Numerous examples illustrate how citizen science programs on-board expedition ships can successfully collect robust scientific data and contribute to enhancing the knowledge and stewardship capacity of cruise passengers. Inclusion of citizen science data from the expedition cruise industry should be considered a critical part of international Arctic observing networks and systems. Social implications Active participation in Arctic citizen science by tourists on expedition cruise ships has many potential benefits beyond the collection of high quality data, from increasing passengers’ knowledge and understanding of the Arctic while on board, to affecting their attitudes and behaviors after they return home. Originality/value The potential for tourism to contribute to Arctic observing systems has been discussed previously in the scientific literature; the authors narrow the focus to citizen science programs in the expedition cruise industry, and provide concrete examples, in the hope that this will streamline acceptance and implementation of these ideas by researchers and tourism practitioners.

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