Journal
CORNELL HOSPITALITY QUARTERLY
Volume 59, Issue 4, Pages 364-375Publisher
SAGE PUBLICATIONS INC
DOI: 10.1177/1938965518762841
Keywords
profit efficiency; Bayesian stochastic frontier; hotel industry
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The present study measured profit efficiency and its determinants in the hotel sector in Spain from 2010 to 2014, using a Bayesian stochastic frontier approach. This model provides estimates of efficiency and more accurate confidence intervals than the traditional frequentist approach. The results revealed that the hotels are operating with significant profit inefficiencies. These inefficiencies are significantly affected by size, location, occupancy rate by region, customer satisfaction, and whether the hotel is affiliated or independent. Finally, the study points out the strategic implications of these findings, to improve the efficiency of the hotels.
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