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Analyzing the Influence of Star Classification and COVID-19 on Value Per Room in Turkish Hotels: A 2018-2023 Perspective

Author

Listed:
  • Celal Erdogdu
  • Kerem Yavuz Arslanli

Abstract

Valuing hotel properties requires a comprehensive understanding of dynamic pricing strategies, market dynamics, investment value drivers, and valuation methodologies. This process is critical for investors and hotel managers to make informed decisions on room pricing and overall hotel investment strategies. This study examines the changes in per-room rates of hotels in Turkey between 2018 and 2023, specifically assessing changes by star class and the impact of the COVID-19 pandemic on resort and city hotels. Our research analyzes in detail the impact of the pandemic on pricing strategies in the hotel industry and the price sensitivity of hotels by star class. Our findings provide valuable insights for hotel operators, investors, and tourism policymakers and provide recommendations for more effective pricing strategy planning in the industry.

Suggested Citation

  • Celal Erdogdu & Kerem Yavuz Arslanli, 2024. "Analyzing the Influence of Star Classification and COVID-19 on Value Per Room in Turkish Hotels: A 2018-2023 Perspective," ERES eres2024-229, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2024-229
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    More about this item

    Keywords

    Hotel; Room; Turkey; Valuation;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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