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Airbnb and hotel revenues in popular Greek destinations

Airbnb and hotel revenues in popular Greek destinations This paper explores the role of Airbnb listings on hotel revenues in certain popular Greek tourist destinations.Design/methodology/approachThis paper explores the role of Airbnb listings on hotel revenues in certain popular Greek tourist destinations. The analysis makes use of the panel GMM method, while the findings document that the Airbnb listings exert a negative impact on hotel revenues.FindingsThe results indicate that it is primarily non-business and low-price hotels that are being influenced, while the hotel industry responds to the competition through lower room prices and not through occupancy rates. The paper documents that although the Airbnb is a new factor in the Greek tourism industry, it has turned into a significant competitor against hotels.Originality/valueThis is the first paper which documents that although Airbnb is a new factor in the Greek tourism industry, it has turned into a significant competitor against hotels. The findings are expected to provide further insights into the workings of the sector and the potential regulated policies needed to be adopted. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Studies Emerald Publishing

Airbnb and hotel revenues in popular Greek destinations

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
0144-3585
DOI
10.1108/jes-11-2019-0512
Publisher site
See Article on Publisher Site

Abstract

This paper explores the role of Airbnb listings on hotel revenues in certain popular Greek tourist destinations.Design/methodology/approachThis paper explores the role of Airbnb listings on hotel revenues in certain popular Greek tourist destinations. The analysis makes use of the panel GMM method, while the findings document that the Airbnb listings exert a negative impact on hotel revenues.FindingsThe results indicate that it is primarily non-business and low-price hotels that are being influenced, while the hotel industry responds to the competition through lower room prices and not through occupancy rates. The paper documents that although the Airbnb is a new factor in the Greek tourism industry, it has turned into a significant competitor against hotels.Originality/valueThis is the first paper which documents that although Airbnb is a new factor in the Greek tourism industry, it has turned into a significant competitor against hotels. The findings are expected to provide further insights into the workings of the sector and the potential regulated policies needed to be adopted.

Journal

Journal of Economic StudiesEmerald Publishing

Published: Apr 27, 2021

Keywords: Airbnb listings; Hotel revenues; Tourist destinations; Panel GMM method; Greece

References