Special Issue (Coastal Engineering)Paper
A STUDY OF IMPACT OF PROXIMITY TO SANDY BEACHES ON HOTEL ROOM PRICES OF HIGH SEASON IN JAPAN
2023 Volume 79 Issue 17 Article ID: 23-17186
Details
2023 Volume 79 Issue 17 Article ID: 23-17186
This study applies the hedonic pricing method to hotel room prices for hotels located near sandy beaches throughout Japan to measure the marginal effect of proximity to sandy beaches on hotel room prices. We investigated the geographic distribution of marginal effects by performing both ordinary least squares (OLS) and geographically weighted regression (GWR). The results showed that proximity to sandy beaches had a positive effect on hotel room prices, but the statistically significant range was obtained at the hotels around Okinawa Prefecture. In these areas, proximity to sandy beaches was shown to raise hotel room prices by approximately 13% to 28%. On the other hand, there are still issues to be addressed in setting explanatory variables in order to construct a valid equation for various socioeconomic influences.
