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Hedonic Price Analysis Of Hotel Rooms In Cyprus, Pandelis Mitsis

Journal of Hospitality Financial Management

The aim of the current study is to investigate which attributes or characteristics have significant effects on the hotel room prices in Cyprus. The author follows a hedonic price analysis approach and employs a data set consisting of 92 hotels, collected from a private tourist agent. The empirical findings indicate that hotel star rating, spa facilities, playgrounds, table tennis activities and proximity to a bus station have all significant effects on the hotel room prices, in both the summer and the winter seasons. Contrary, air-conditioning, direct-dial telephone and the presence of tennis court and indoor pool amenities affect the room …