The impact of family business strategies on hotel room prices
DOI:
https://doi.org/10.24310/ejfbejfb.v6i1.5047Palabras clave:
Family business, Hotels, Hedonic price, Family business branding, Family business performanceResumen
This paper seeks to address the lack of empirical research on family businesses in the Spanish hotel industry. Through a hedonic price model applied to Malaga hotels, this study assessed the impact on hotel room prices of whether or not a hotel is a family business. The results show that, when being a family-business hotel is considered, this has a negative impact on prices of about €10. The results are discussed based on a combined approach of profitability, brand and price strategies, which offers several ways to interpret the research outcomes. A first option is that Malaga family businesses follow a strategy of cost leadership. The second option is heavy brand investment by Malaga family hotels. Another option is that customers consider the family hotels of this destination unprofessional compared with non-family hotels.Descargas
Métricas
Citas
Abrate et al., 2011
G. Abrate,A. Capriello,G. Fraquelli
When quality signals talk: Evidence from the Turin hotel industry
Tourism Management, 32 (2011), pp. 912-921
Abrate et al., 2012
G. Abrate,G. Fraquelli,G. Viglia
Dynamic pricing strategies: Evidence from European hotels
International Journal of Hospitality Management, 31 (2012), pp. 160-168
Acquaah, 2011
M. Acquaah
Business strategy and competitive advantage in family businesses in Ghana: The role of social networking relationships
Journal of Developmental Entrepreneurship, 16 (2011), pp. 103-126
Agmapisarn, 2014
C. Agmapisarn
A hedonic pricing analysis of hotel room rates in Bangkok
ABAC Journal, 34 (2014), pp. 1-17
Agyapong and Boamah, 2013
A. Agyapong,R.B. Boamah
Business strategies and competitive advantage of family hotel businesses in Ghana: The role of strategic leadership
Journal of Applied Business Research, 29 (2013), pp. 531-543
Albayrak and Caber, 2015
T. Albayrak,M. Caber
Prioritisation of the hotel attributes according to their influence on satisfaction: A comparison of two techniques
Tourism Management, 46 (2015), pp. 43-50
Alegre et al., 2013
J. Alegre,M. Cladera,M. Sard
Tourist areas: Examining the effects of location attributes on tour-operator package holiday prices
Tourism Management, 38 (2013), pp. 131-141
Arregle et al., 2012
J.-L. Arregle,L. Naldi,M. Nordqvist,M.A. Hitt
Internationalisation of family-controlled firms: A study of the effects of external involvement in governance
Entrepreneurship Theory and Practice, 36 (2012), pp. 1115-1143
Astrachan et al., 2002
J. Astrachan,S. Klein,K. Smyrnios
The F-PEC scale of family influence: A proposal for solving the family business definition problem
Family Business Review, 15 (2002), pp. 45-58
Astrachan and Shanker, 2003
J.H. Astrachan,M.C. Shanker
Family businesses contribution to the US economy: A closer look
Family Business Review, 16 (2003), pp. 211-216
Banki and Ismail, 2015
M.B. Banki,H.N. Ismail
Understanding the characteristics of family owned tourism micro businesses in mountain destinations in developing countries: Evidence from Nigeria
Tourism Management Perspectives, 13 (2015), pp. 18-32
Banki et al., 2016
M.B. Banki,H.N. Ismail,I.B. Muhammad
Coping with seasonality: A case study of family owned micro tourism businesses in Obudu Mountain Resort in Nigeria
Tourism Management Perspectives, 18 (2016), pp. 141-152
Basco, 2013
R. Basco
The family's effect on family firm performance: A model testing the demographic and essence approaches
Journal of Family Business Strategy, 4 (2013), pp. 42-66
Bertrand and Schoar, 2006
M. Bertrand,A. Schoar
The role of family in family firms
Journal of Economic Perspectives, 20 (2006), pp. 73-96
Binz et al., 2013
C. Binz,J.F. Hair,T.M. Pieper,A. Baldauf
Exploring the effect of distinct family firm reputation on consumers’ preferences
Journal of Family Business Strategy, 4 (2013), pp. 3-11
Block et al., 2011
J.H. Block,P. Jaskiewicz,D. Miller
Ownership versus management effects on performance in family and founder companies: A Bayesian reconciliation
Journal of Family Business Strategy, 2 (2011), pp. 232-245
Brenes et al., 2006
E.R. Brenes,K. Madrigal,G.E. Molina-Navarro
Family business structure and succession: Critical topics in Latin American experience
Journal of Business Research, 59 (2006), pp. 372-374
Bull, 1994
A.O. Bull
Pricing a motel's location
International Journal of Contemporary Hospitality Management, 6 (1994), pp. 10-15
Carmeli and Tishler, 2004
A. Carmeli,A. Tishler
The relationships between intangible organisational elements and organisational performance
Strategic Management Journal, 25 (2004), pp. 1257-1278
Article
Carney, 2005
M. Carney
Corporate governance and competitive advantage in family-controlled firms
Entrepreneurship Theory and Practice, 29 (2005), pp. 249-265
Carr and Bateman, 2009
C. Carr,S. Bateman
International strategy configurations of the world's top family firms
Management International Review, 49 (2009), pp. 733-758
Carrigan and Buckley, 2008
M. Carrigan,J. Buckley
‘What's so special about family business?’ An exploratory study of UK and Irish consumer experiences of family businesses
International Journal of Consumer Studies, 32 (2008), pp. 656-666
Casillas and Acedo, 2005
J.C. Casillas,F.J. Acedo
Internationalisation of Spanish family SMEs: An analysis of family involvement
International Journal of Globalisation and Small Business, 1 (2005), pp. 134-151
Chami, 2001
R. Chami
What's different about family business?
Working Paper International Monetary Fund, (2001)
Chen and Rothschild, 2010
C.F. Chen,R. Rothschild
An application of hedonic pricing analysis to the case of hotel rooms in Taipei
Tourism Economics, 16 (2010), pp. 685-694
Chua et al., 2003
J.H. Chua,J.J. Chrisman,P. Sharma
Succession and non succession concerns of family firms and agency relationship with non family managers
Family Business Review, 16 (2003), pp. 89-107
Claver et al., 2008
E. Claver,L. Rienda,D. Quer
The internationalisation of small and medium-sized enterprises: The effect of family management, human capital and foreign ownership
Journal of Small Business and Enterprise Development, 15 (2008), pp. 457-471
Craig et al., 2008
J.B. Craig,C. Dibrell,P.S. Davis
Leveraging family-based brand identity to enhance firm competitiveness and performance in family businesses
Small Business Management, 46 (2008), pp. 351-371
Craig and Moores, 2006
J.B. Craig,K. Moores
A 10-year longitudinal investigation of strategy, systems, and environment on innovation in family firms
Family Business Review, 19 (2006), pp. 1-10
Cretu and Brodie, 2007
A. Cretu,R. Brodie
The influence of brand image and company reputation where manufacturers market to small firms: A customer value perspective
Industrial Marketing Management, 36 (2007), pp. 230-240
De la Peña et al., 2016
M.R. De la Peña,J.A. Núñez-Serrano,J. Turrión,F.J. Velázquez
Are innovations relevant for consumers in the hospitality industry? A hedonic approach for Cuban hotels
Tourism Management, 55 (2016), pp. 184-196
De Massis et al., 2013
A. De Massis,J. Kotlar,G. Campopiano,L. Cassia
Dispersion of family ownership and the performance of small-to-medium size private family firms
Journal of Family Business Strategy, 4 (2013), pp. 166-175
Article
Donckels and Fröhlich, 1991
R. Donckels,E. Fröhlich
Are family businesses really different? European experiences from STRATOS
Family Business Review, 4 (1991), pp. 149-160
Dunn, 1996
B. Dunn
Family enterprises in the UK: A special sector?
Family Business Review, 9 (1996), pp. 139-155
Dyer, 2003
W.G. Dyer
The family: The missing variable in organisational research
Entrepreneurship Theory and Practice, 27 (2003), pp. 401-416
Dyer, 2006
W.G. Dyer
Examining the ‘family effect’ on firm performance
Family Business Review, 19 (2006), pp. 253-273
Falk, 2008
M. Falk
A hedonic price model for ski lift tickets
Tourism Management, 29 (2008), pp. 1172-1184
Fleischer, 2012
A. Fleischer
A room with a view – A valuation of the Mediterranean Sea view
Tourism Management, 33 (2012), pp. 598-602
Fukuyama, 1998
F. Fukuyama
La confianza
Ediciones B, (1998)
Getz and Carlsen, 2000
D. Getz,J. Carlsen
Characteristics and goals of family and owner-operated businesses in the rural tourism and hospitality sectors
Tourism Management, 21 (2000), pp. 547-560
Getz and Nilsson, 2004
D. Getz,P.A. Nilsson
Responses of family businesses to extreme seasonality in demand: The case of Bornholm, Denmark
Tourism Management, 25 (2004), pp. 17-30
Getz and Petersen, 2004
D. Getz,T. Petersen
Identifying industry-specific barriers to inheritance in small family businesses
Family Business Review, 17 (2004), pp. 259-276
Getz and Petersen, 2005
D. Getz,T. Petersen
Growth and profit-oriented entrepreneurship among family business owners in the tourism and hospitality industry
International Journal of Hospitality Management, 24 (2005), pp. 219-242
Halvorsen and Palmquist, 1980
R. Halvorsen,R. Palmquist
The interpretation of dummy variables in semilogarithmic equations
American Economic Association, 70 (1980), pp. 474-475
Hauck and Prügl, 2015
J. Hauck,R. Prügl
Innovation activities during intra-family leadership succession in family firms: An empirical study from a socioemotional wealth perspective
Journal of Family Business Strategy, 6 (2015), pp. 104-118
Herrmann and Herrmann, 2014
R. Herrmann,O. Herrmann
Hotel room rates under the influence of a large event: The Oktoberfest in Munich 2012
International Journal of Hospitality Management, 39 (2014), pp. 21-28
IEF, 2015
Instituto de Empresa Familiar
La empresa familiar en cifras
(2015)
Retrieved from: http://www.iefamiliar.com/cifras/1
IEF, 2016
Instituto de la Empresa Familiar
La empresa familiar en España (2015)
(2016)
Israeli, 2002
A.A. Israeli
Star rating and corporate affiliation: Their influence on room price and performance of hotels in Israel
International Journal of Hospitality Management, 21 (2002), pp. 405-424
Keller and Lehmann, 2003
K.L. Keller,D.R. Lehmann
How do brands create value?
Marketing Management, 12 (2003), pp. 26-40
Kraus et al., 2012
S. Kraus,M. Pohjola,A. Koponen
Innovation in family firms: An empirical analysis linking organisational and managerial innovation to corporate success
Review of Managerial Science, 6 (2012), pp. 265-286
Lee and Back, 2008
J. Lee,K. Back
Attendee-based brand equity
Tourism Management, 29 (2008), pp. 331-344
Article
Lee and Jang, 2011
S.K. Lee,S.S. Jang
Room rates of US airport hotels: Examining the dual effects of proximities
Journal of Travel Research, 50 (2011), pp. 186-197
Levering and Moskowitz, 1993
R. Levering,M. Moskowitz
The ten best companies to work for in America
Business and Society Review, 85 (1993), pp. 26-38
Litvin et al., 2008
S.W. Litvin,R.E. Goldsmith,B. Pan
Electronic word-of-mouth in hospitality and tourism management
Tourism Management, 29 (2008), pp. 458-468
Madison and Runyan, 2014
K. Madison,R.C. Runyan
Strategic posture and performance: Revealing differences between family and nonfamily firms
Journal of Family Business Strategy, 5 (2014), pp. 239-251
Manhas and Tukamushaba, 2015
P.S. Manhas,E.K. Tukamushaba
Understanding service experience and its impact on brand image in hospitality sector
International Journal of Hospitality Management, 45 (2015), pp. 77-87
Mazzi, 2011
C. Mazzi
Family business and financial performance: Current state of knowledge and future research challenges
Journal of Family Business Strategy, 2 (2011), pp. 166-181
Miller and Le Breton-Miller, 2005
D. Miller,I. Le Breton-Miller
Managing for the long run. Lessons in competitive advantage from great family businesses
Harvard Business Press, (2005)
Miller et al., 2003
D. Miller,L. Steier,I. Le Breton-Miller
Lost in time: Intergenerational succession, change, and failure in family business
Journal of Business Venturing, 18 (2003), pp. 513-531
Mintzberg, 1988
H. Mintzberg
Generic strategies: Toward a comprehensive framework
Advances in Strategic Management, 5 (1988), pp. 1-67
Miralles-Marcelo et al., 2015
J.L. Miralles-Marcelo,M.D. Miralles-Quirós,I. Lisboa
Does family control reduce firm risk?
Revista de Empresa Familiar, 5 (2015), pp. 17-25
Monty and Skidmore, 2003
B. Monty,M. Skidmore
Hedonic pricing and willingness to pay for bed and breakfast amenities in southeast Wisconsin
Journal of Travel Research, 42 (2003), pp. 195-199
Morris et al., 1997
M.H. Morris,R.O. Williams,J.A. Allen,R.A. Avila
Correlates of success in family business transitions
Journal of Business Venturing, 12 (1997), pp. 385-401
Mussolino and Calabrò, 2014
D. Mussolino,A. Calabrò
Paternalistic leadership in family firms: Types and implications for intergenerational succession
Journal of Family Business Strategy, 5 (2014), pp. 197-210
O’Boyle et al., 2011
E.H. O’Boyle,J.M. Pollack,M.W. Rutherford
Exploring the relation between family involvement and firms’ financial performance: A meta-analysis of main and moderator effects
Journal of Business Venturing, 27 (2011), pp. 1-18
Oliver, 1997
R.L. Oliver
Satisfaction: A behavioral perspective on the consumer
McGraw-Hill, (1997)
Orth and Green, 2009
U.R. Orth,M.T. Green
Consumer loyalty to family versus non-family business: The roles of store image, trust and satisfaction
Journal of Retailing and Consumer Services, 16 (2009), pp. 248-259
Pérez-Calderón et al., 2016
E. Pérez-Calderón,F.J. Ortega-Rossell,P. Milanés-Montero
The wine routes of Spain Products Club: The case of the Ribera of Guadiana Wine Route (Spain)
Wine and tourism, pp. 107-121
Rigall-I-Torrent and Fluvià, 2011
R. Rigall-I-Torrent,M. Fluvià
Managing tourism products and destinations embedding public good components: A hedonic approach
Tourism Management, 32 (2011), pp. 244-255
Rigall-I-Torrent et al., 2011
R. Rigall-I-Torrent,M. Fluvià,R. Ballester,A. Saló,E. Ariza,J.M. Espinet
The effects of beach characteristics and location with respect to hotel prices
Tourism Management, 32 (2011), pp. 1150-1158
Rojo Ramírez et al., 2011
A.A. Rojo Ramírez,J. Diéguez Soto,P. López Delgado
Importancia del concepto de empresa familiar en investigación: Utilización de la base de datos SABI para su clasificación
Revista de Empresa Familiar, 1 (2011), pp. 53-67
Rosen, 1974
S. Rosen
Hedonic prices and implicit markets: Product differentiation in pure competition
Journal of Political Economy, 82 (1974), pp. 34-55
Saló et al., 2014
A. Saló,A. Garriga,R. Rigall-I-Torrent,M. Vila,M. Fluvià
Do implicit prices for hotels and second homes show differences in tourists’ valuation for public attributes for each type of accommodation facility?
International Journal of Hospitality Management, 36 (2014), pp. 120-129
Salvatico, 2006
R. Salvatico
Enabling transparent leadership: A small business manager's perspective
Journal of Management Development, 25 (2006), pp. 1018-1020
Article
San Martin-Reyna and Duran-Encalada, 2012
J. San Martin-Reyna,J.A. Duran-Encalada
The relationship among family business, corporate governance and firm performance: Evidence from the Mexican stock exchange
Journal of Family Business Strategy, 3 (2012), pp. 106-117
Sánchez-Ollero et al., 2013
J.L. Sánchez-Ollero,A. García-Pozo,A. Marchante-Mera
How does respect for the environment affect final prices in the hospitality sector? A hedonic pricing approach
Cornell Hospitality Quarterly, 55 (2013), pp. 31-39
Schamel, 2012
G. Schamel
Weekend vs. midweek stays: Modelling hotel room rates in a small market
International Journal of Hospitality Management, 31 (2012), pp. 1113-1118
Scholes et al., 2015
L. Scholes,M. Mustafa,S. Chen
Internationalisation of small family firms: The influence of family from a socioemotional wealth perspective
Thunderbird International Business Review, 58 (2015), pp. 131-146
Sharma et al., 2003
P. Sharma,J.J. Chrisman,J.H. Chua
Predictors of satisfaction with the succession process in family firms
Journal of Business Venturing, 18 (2003), pp. 667-687
Sund et al., 2015
L.G. Sund,L. Melin,K. Haag
Intergenerational ownership succession: Shifting the focus from outcome measurements to preparatory requirement
Journal of Family Business Strategy, 6 (2015), pp. 166-177
Sundaramurthy and Kreiner, 2008
C. Sundaramurthy,G.E. Kreiner
Governing by managing identity boundaries: The case of family businesses
Entrepreneurship Theory and Practice, 32 (2008), pp. 415-436
Sweeney et al., 1999
J. Sweeney,G.N. Soutar,L.W. Johnson
The role of perceived risk in the quality–value relationship: A study in a retail environment
Journal of Retailing, 75 (1999), pp. 77-105
Tagiuri and Davis, 1996
R. Tagiuri,J.A. Davis
Bivalent attributes of the family firms
Family Business Review, 9 (1996), pp. 192-208
Tokarczyk et al., 2007
J. Tokarczyk,E. Hansen,M. Green,J. Down
A resource-based view and market orientation theory examination of the role of ‘familiness’ in family business success
Family Business Review, 20 (2007), pp. 17-31
Tsai, 2005
S. Tsai
Utility, cultural symbolism & emotion: A comprehensive model of brand purchase value
International Journal of Research in Marketing, 22 (2005), pp. 277-291
Weigelt and Camerer, 1988
K. Weigelt,C. Camerer
Reputation and corporate strategy: A review of recent theory and applications
Strategic Management Journal, 9 (1988), pp. 443-454
Wooldridge, 2009
J.M. Wooldridge
Introductory econometrics: A modern approach
th ed., South Western, Cengage Learning, (2009)
Woodruff, 1997
R.B. Woodruff
Customer value: The next source for competitive advantage
Journal of the Academy of Marketing Science, 25 (1997), pp. 139-153
Yu et al., 2012
A. Yu,G. Lumpkin,R.L. Sorenson,K.H. Brigham
The landscape of family business outcomes: A summary and numerical taxonomy of dependent variables
Family Business Review, 12 (2012), pp. 33-57
Zeithaml, 1988
V.A. Zeithaml
Consumer perception of price, quality, and value: A means-end model and synthesis of evidence
Journal of Marketing, 52 (1988), pp. 2-22
Zellweger, 2007
T. Zellweger
Time horizon, costs of equity capital, and generic investment strategies of firms
Family Business Review, 20 (2007), pp. 1-15
Zellweger et al., 2010
T.M. Zellweger,K.A. Eddleston,F.W. Kellermanns
Exploring the concept of familiness: Introducing family firm identity
Journal of Family Business Strategy, 1 (2010), pp. 54-63
Zellweger et al., 2012
T.M. Zellweger,F.W. Kellermanns,K.A. Eddleston,E. Memili
Building a family firm image: How family firms capitalise on their family ties
Journal of Family Business Strategy, 3 (2012), pp. 239-250
Article
Zhang et al., 2011
H. Zhang,J. Zhang,S. Lu,S. Cheng,J. Zhang
Modeling hotel room price with geographically weighted regression
International Journal of Hospitality Management, 30 (2011), pp. 1036-1043
Descargas
Publicado
Cómo citar
Número
Sección
Licencia
Los derechos de autoría son de dos tipos: morales y patrimoniales, los cuales EJFB reconoce y respeta. Los derechos morales son los relacionados con el reconocimiento de autoría. Son prerrogativas perpetuas, irrenunciables, intransferibles, inalienables, inembargables e imprescriptibles como consecuencia del vínculo indivisible del autor/a y su obra. Los derechos patrimoniales son aquellos que se derivan de la reproducción, distribución, adaptación o comunicación pública de la obra, entre otros. Estos derechos patrimoniales son cedidos por EJFB a la Universidad de Málaga en acceso abierto.
Los autores y autoras que publican en EJFB reconocen que la revista se publica en completo acceso abierto y que está autorizada para reproducir, distribuir, difundir o comunicar el trabajo bajo una Licencia CC BY-NC-SA 4.0. Esto significa que usted es libre de compartir y adaptar este material bajo las condiciones siguientes:
- Reconocimiento — Debe reconocer adecuadamente la autoría, lo que implica el derecho de los autores y autoras a ser reconocidos y citados correctamente.
- No Comercial — No puede utilizar el material con fines comerciales.
- Compartir Igual — Si remezcla, transforma o construye sobre el material, debe distribuir sus contribuciones bajo la misma licencia que el original.
1.png){kind=logo}
26.png)
