Go to main content
Formate
Formate
BibTeX
MARCXML
TextMARC
MARC
DublinCore
EndNote
NLM
RefWorks
RIS

Résumé

The aim of this paper is to increase the level of transparency in the European hotel investment industry by developing a transaction-based price index. The hedonic regression method is used to analyze a sample of 1334 hotel transactions across 26 European countries between 2007-2020. This international, multi-currency setting poses several challenges to the reliable estimation of year-over-year changes in hotel transaction price levels. To ensure a constant-quality interpretation of the yearly index results despite time-varying sample characteristics, 14 control variables are used to capture a hotel’s location, building quality, size and operational attributes. The resulting transaction price index reveals a 30% drop in price levels during the 2009 Global Financial crisis and an 11% drop in 2020, the year of the Covid-19 pandemic.

Einzelheiten

Aktionen

PDF