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An Alternative Hotel Pricing Technology: Hedonic Price Model for Pricing Beach Resort Revenue in Thailand. |
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| รหัสดีโอไอ | |
| Creator | Kongkoon Tochaiwat |
| Title | An Alternative Hotel Pricing Technology: Hedonic Price Model for Pricing Beach Resort Revenue in Thailand. |
| Contributor | Warakorn Likitanupak |
| Publisher | Thammasat Printing House |
| Publication Year | 2562 |
| Journal Title | International Journal of Building, Urban, Interior and Landscape Technology |
| Journal Vol. | 14 |
| Page no. | 37-50 |
| Keyword | Pricing, Hotel Pricing Technology, Physical Attribute, Location, Thailand, Hedonic Price Model |
| URL Website | https://www.tci-thaijo.org/index.php/built/index |
| Website title | ThaiJO |
| ISSN | 2228-9194 |
| Abstract | Two classical methods for pricing the average daily rate (ADR), ADR Rule of Thumb Method and Discounted Cash Flow Analysis Method have some limitations. The aim of this research is to find the determinants of average room revenue and to propose an average daily rate prediction model of beach resorts in Thailand using a hedonic price method, as an alternative pricing technology. Three groups of independent variables are identified from a literature reviews and verified by experts: resort rating, physical attributes, and location attributes. Average daily rate is the dependent variable of the prediction model. The study finds that a log log multiple regression model with 11 determinants is the best prediction model and the variables with highest effect on average daily rate are, in descending order, star rating, being located on Samui or Phuket Islands, spa availability, and international brand availability. The research finding |
