Are Innovations relevant for consumers in the hospitality industry? A hedonic approach for Cuban hotels

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This paper evaluates the impact of innovative activity in the hotel industry on the willingness to pay by consumers. To this end we estimate a hedonic price function where innovation is identified indirectly through certain attributes. The contrast is performed on a representative sample of Cuban hotels considering a large number of attributes of hotels and rooms. To solve the usual problems of collinearity an original procedure is developed. The results highlight the importance of the attributes linked to innovation and internationalization on the price of the rooms of Cuban hotels.
Este trabajo evalúa el impacto de la actividad innovadora en la industria hotelera sobre la disposición a pagar por los consumidores. Con este objetivo se estima una función hedónica de precios donde las innovaciones se identifican indirectamente a través de ciertos atributos de los hoteles. El contraste se realiza sobre una muestra representativa de hoteles cubanos considerando un número importante de atributos de los hoteles y de las habitaciones. Para solventar el problema habitual de colinealidad en este contexto, se desarrolla un procedimiento original. Los resultados ponen de manifiesto la importancia de los atributos ligados a la innovación e internacionalización sobre el precio de las habitaciones de los hoteles cubanos.
Corresponding author: Francisco J. Velázquez: Office 1.06, Pabellón 2, Facultad de Ciencias Económicas y Empresariales, Universidad Complutense de Madrid, Campus de Somosaguas, s/n, E28223 POZUELO DE ALARCÓN, MADRID (SPAIN).
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