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Evaluation of the profitability of quality labels in rural tourism accommodation: a hedonic approach using propensity score matching

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  • Celia Bilbao
  • Luis Valdés

Abstract

In recent years, quality labels for the Spanish tourism sector have been developed as part of a competitive strategy focused on the differentiation of the product. Given this development, it is interesting to analyse the profitability of quality labels for the accommodation owners and managers. In particular, this article calculates the profitability of a rural tourism quality label. Through the use of the hedonic price approach, the market valuation of the quality label for rural self-catering cottages is obtained. This valuation is subsequently compared with the expenses incurred by establishments in achieving the quality label. In order to address the usual methodological problems associated with the endogeneity, prior to application of the hedonic approach, the propensity score matching is used. The results indicate that possessing a quality label has a positive impact on the profitability of rural tourism.

Suggested Citation

  • Celia Bilbao & Luis Valdés, 2016. "Evaluation of the profitability of quality labels in rural tourism accommodation: a hedonic approach using propensity score matching," Applied Economics, Taylor & Francis Journals, vol. 48(34), pages 3253-3263, July.
    • Handle: RePEc:taf:applec:v:48:y:2016:i:34:p:3253-3263
    DOI: 10.1080/00036846.2015.1137546
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    References listed on IDEAS

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    1. Ho, Daniel & Imai, Kosuke & King, Gary & Stuart, Elizabeth A., 2011. "MatchIt: Nonparametric Preprocessing for Parametric Causal Inference," Journal of Statistical Software, Foundation for Open Access Statistics, vol. 42(i08).
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    Cited by:

    1. Ann Marsden & Hugh Sibly, 2020. "An Investigation of the Determinants of Profitability in a Short‐Stay Accommodation Market," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 53(4), pages 539-553, December.
    2. Celia Bilbao-Terol & Verónica Cañal-Fernández & Luis Valdés & Eduardo Del Valle, 2017. "Rural Tourism Accommodation Prices by Land Use-Based Hedonic Approach: First Results from the Case Study of the Self-Catering Cottages in Asturias," Sustainability, MDPI, vol. 9(10), pages 1-17, September.
    3. José F Baños-Pino & David Boto-García & Eduardo Del Valle & Inés Sustacha, 2023. "The impact of COVID-19 on tourists’ length of stay and daily expenditures," Tourism Economics, , vol. 29(2), pages 437-459, March.
    4. Llorenç Bagur-Femenías & Jordi Perramon & Marc Oliveras-Villanueva, 2019. "Effects of Service Quality Policies in the Tourism Sector Performance: An Empirical Analysis of Spanish Hotels and Restaurants," Sustainability, MDPI, vol. 11(3), pages 1-13, February.
    5. Bilbao-Terol, Amelia & Álvarez-Otero, Susana & Bilbao-Terol, Celia & Cañal-Fernández, Verónica, 2017. "Hedonic evaluation of the SRI label of mutual funds using matching methodology," International Review of Financial Analysis, Elsevier, vol. 52(C), pages 213-227.

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