Consumer preference study: consumer willingness-to-pay for hotel room amenities

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Description
Hotel amenities and their influence on consumer choice have been extensively studied by academics. These have largely focused on consumer preferences vacation modes and the psychographic characteristics of travelers. Revenue managers make practical use of this information by attempting to

Hotel amenities and their influence on consumer choice have been extensively studied by academics. These have largely focused on consumer preferences vacation modes and the psychographic characteristics of travelers. Revenue managers make practical use of this information by attempting to match available hotel rooms with traveler demands for accommodations, setting prices that maximize profits for the hospitality company. The experienced revenue manger is able to determine the most profitable price schedule for a room types across many distribution channels. This study was conducted to test the use of choice modeling for objectively assessing dollar values of three basic amenities for consumers (room type, kitchen availability and price). Researcher used paired comparisons modeled as a conditional logit. This study used market segmentation and choice modeling to determine the value of amenities for an aggregate group and 16 more homogenous groups. Market segmentation and choice modeling allowed this study to segment markets into more homogenous groups, and by doing that allowed for calculation of customer willingness to pay for additional amenities. Results from this study confirm that customers are willing to pay for kitchen $65.43 on top of their room value. All responders generally agree to liking an extra bedroom in their hotel room and they are willing to pay $37.39 more than for a studio room. A surprising result is that it seems based on the results that responders generally do not like to have a second bedroom and they are not willing to pay for it. By knowing customer willingness to pay, it can be assured that customers always feel they are getting a high value out of the transaction and increase the likelihood of future transactions. The significance of this research is the concrete numbers that can be, and already have been, applied immediately in the hospitality industry, and is positively impacting business revenue and customer experience.
Date Created
2014
Agent

Traditional entrepreneur networks and regional resilience

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Description
The jobless recovery of the Great Recession has led policymakers and citizens alike to ask what can be done to better protect regions from the cascading effects of an economic downturn. Economic growth strategies that aim to redevelop a waterfront

The jobless recovery of the Great Recession has led policymakers and citizens alike to ask what can be done to better protect regions from the cascading effects of an economic downturn. Economic growth strategies that aim to redevelop a waterfront for tourism or attract high growth companies to the area, for example, have left regions vulnerable by consolidating resources in just a few industry sectors or parts of town. A promising answer that coincided with growing interest in regional innovation policy has been to promote entrepreneurship for bottom-up, individual-led regional development. However, these policies have also failed to maximize the potential for bottom-up development by focusing on high skill entrepreneurs and high tech industry sectors, such as green energy and nanotechnology. This dissertation uses the extended case method to determine whether industry cluster theory can be usefully extended from networks of high skill innovators to entrepreneurs in traditional trades. It uses U.S. Census data and in-person interviews in cluster and non-cluster neighborhoods in Dayton, Ohio to assess whether traditional entrepreneurs cluster and whether social networks explain high rates of neighborhood self-employment. Entrepreneur interviews are also conducted in Raleigh, North Carolina to explore regional resilience by comparing the behavior of traditional entrepreneurs in the ascendant tech-hub region of Raleigh and stagnant Rustbelt region of Dayton. The quantitative analysis documents, for the first time, a minor degree of neighborhood-level entrepreneur clustering. In interviews, entrepreneurs offered clear examples of social networks that resemble those shown to make regional clusters successful, and they helped clarify that a slightly larger geography may reveal more clustering. Comparing Raleigh and Dayton entrepreneurs, the study found few differences in their behavior to explain the regions' differing long-term economic trends. However, charitable profit-seeking and trial and error learning are consistent behaviors that may distinguish traditional, small scale entrepreneurs from larger export-oriented business owners and contribute to a region's ability to withstand recessions and other shocks. The research informs growing policy interest in bottom-up urban development by offering qualitative evidence for how local mechanics, seamstresses, lawn care businesses and many others can be regional assets. Future research should use larger entrepreneur samples to systematically test the relationship between entrepreneur resilience behaviors to regional economic outcomes.
Date Created
2013
Agent

Click me out to the ballgame: exploring city websites to assess the civic priorities of small and mid-sized communities with minor league baseball teams

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Description
The boom in publicly-funded sports facility construction since the 1980s resulted in studies that generally found the economic benefits accruing from facility construction do not justify the costs. However, focusing narrowly on economic costs in large cities leaves out an

The boom in publicly-funded sports facility construction since the 1980s resulted in studies that generally found the economic benefits accruing from facility construction do not justify the costs. However, focusing narrowly on economic costs in large cities leaves out an important part of the story. The author is interested in the possible non-economic benefits to a city from having a sports team and stadium, and focuses on determining any relationship between minor league teams and stadiums and community self-image. The methodology for this review is an assessment of the websites – primarily the website's front page – for 42 cities with minor league baseball teams. In addition, a survey of local government officials provides a layer of corroboration for the website review results. Through this assessment, the author brings together elements that contribute to three different fields – facility financing, e-government, and small and mid-sized cities. The website reviews have two elements. First, the author assesses the extent to which the website provides information about the team and stadium on the front page or a website page within two links from the front page. The result is that a relatively low amount of information about teams and stadiums is available on the 42 city websites. Second, the author assesses all the active links on the website front page and categorize the links regarding whether they are primarily directed toward residents, businesses, or tourists. On average 67 percent of the links on the 42 city websites' front pages are directed toward residents. In addition to the website reviews, the author reports on a survey of local government executives and managers regarding the city websites. The key findings from the survey are that residents are the group of most interest to the website creators; the websites' content and appearance generally are intended to reflect the communities' self-image, and; in general, the low amount of information about the teams and stadiums on the website front page accurately represents the importance of the teams and stadiums to communities' self-image. The survey results generally corroborate the website reviews.
Date Created
2012
Agent