Determination of hedonic hotel room prices with spatial effect in Antalya

YALÇIN F., MERT M.

ECONOMIA SOCIEDAD Y TERRITORIO, vol.18, no.58, pp.697-734, 2018 (ESCI) identifier

  • Publication Type: Article / Article
  • Volume: 18 Issue: 58
  • Publication Date: 2018
  • Doi Number: 10.22136/est01228
  • Journal Name: ECONOMIA SOCIEDAD Y TERRITORIO
  • Journal Indexes: Emerging Sources Citation Index (ESCI), CAB Abstracts, Political Science Complete, Sociological abstracts, Veterinary Science Database, Worldwide Political Science Abstracts, Directory of Open Access Journals
  • Page Numbers: pp.697-734
  • Keywords: exploratory spatial data analysis, spatial econometrics, statistics, spatial autocorrelation, hedonic pricing model, LIKELIHOOD, MODEL
  • Akdeniz University Affiliated: Yes

Abstract

The purpose of the study is to create a hedonic price model containing spatial effect by identifying the accommodation facilities' characteristics that affect the room rates in Antalya (Turkey) area. In this context, the data of 1444 hotels in Antalya was obtained. Since there was a spatial relationship between them, a spatial regression model was proposed. Explanatory spatial data analysis was applied to variables by stepwise regression. The Hedonic Price Model was established using Spatial Lag Model and it reveals that it is applicable to similar studies.