The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sector

Purpose: The aim of this study is to analyze the existence of a relationship between the presence of nearby substitute products, mainly Airbnb flats or rooms, and the effect on the revenue and profitability of hotels. Design/methodology/approach: The empirical study is based on the analysis of finan...

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Autores: Aznar Alarcón, Juan Pedro, Sayeras, Josep M., Rocafort Marco, Alba, Galiana Richart, Jorge
Tipo de recurso: artículo
Fecha de publicación:2017
País:España
Institución:Universitat Ramon Llull (URL)
Repositorio:DAU Arxiu Digital de la Universitat Ramon Llull
OAI Identifier:oai:dau.url.edu:20.500.14342/5116
Acceso en línea:http://hdl.handle.net/20.500.14342/5116
http://doi.org/10.3926/ic.921
Access Level:acceso abierto
Palabra clave:Airbnb
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spelling The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sectorAznar Alarcón, Juan PedroSayeras, Josep M.Rocafort Marco, AlbaGaliana Richart, JorgeAirbnbPurpose: The aim of this study is to analyze the existence of a relationship between the presence of nearby substitute products, mainly Airbnb flats or rooms, and the effect on the revenue and profitability of hotels. Design/methodology/approach: The empirical study is based on the analysis of financial information provided in the annual reports of a sample consisting of 43 hotels (11.78% of the population). As an explanatory variable for profitability, we have considered the presence of apartments listed in Airbnb that are no farther than one kilometer from each hotel. Considering that most of the variables used do not follow a normal distribution, the existence of a relationship between profitability and the explanatory variables has been tested using non-parametric tests, namely, the Spearman correlation coefficient and Kruskall-Wallis test. Findings: We found a positive correlation between presence of Airbnb apartments and return on equity. This fact can be explained by considering the presence of Airbnb apartments as a variable that measures the attractiveness of the location from a tourist’s point of view. Hotels located near the city center or main tourist areas of the city have a higher level of profitability. We also found no evidence of any relationship between profitability and star category; 4- and 3-star hotels have experienced, on average, a lower drop in revenues between 2008 and 2013 and they also obtained a higher average level of profitability in 2013 as compared to the upper segment of 5-star hotels. Research limitations/implications: This research has been conducted in the city of Barcelona. Future research using the same methodology should be applied to other cities with an important hospitality sector to reinforce our findings. The main implications of this research refer to the importance of location as a key strategic variable in hospitality, and to the change in the system customers use to evaluate the quality of a hotel, according to which the traditional star category system has been partially replaced by new sources of information available through the new communication technologies. Originality/value: This paper is one of the first contributions that scholars have made to obtain a deeper understanding of the effects of the new forms of the sharing economy, focusing on the hospitality industry.info:eu-repo/semantics/publishedVersionOmniaScienceUniversitat Ramon Llull. Esade202520252017info:eu-repo/semantics/article13 p.application/pdfhttp://hdl.handle.net/20.500.14342/5116http://doi.org/10.3926/ic.921reponame:DAU Arxiu Digital de la Universitat Ramon Llullinstname:Universitat Ramon Llull (URL)InglésIntangible Capital© L'autor/aAttribution-NonCommercial 4.0 Internationalhttp://creativecommons.org/licenses/by-nc/4.0/info:eu-repo/semantics/openAccessoai:dau.url.edu:20.500.14342/51162026-06-21T06:40:37Z
dc.title.none.fl_str_mv The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sector
title The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sector
spellingShingle The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sector
Aznar Alarcón, Juan Pedro
Airbnb
title_short The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sector
title_full The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sector
title_fullStr The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sector
title_full_unstemmed The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sector
title_sort The irruption of AirBNB and its effects on hotels' profitability: An analysis of Barcelona's hotel sector
dc.creator.none.fl_str_mv Aznar Alarcón, Juan Pedro
Sayeras, Josep M.
Rocafort Marco, Alba
Galiana Richart, Jorge
author Aznar Alarcón, Juan Pedro
author_facet Aznar Alarcón, Juan Pedro
Sayeras, Josep M.
Rocafort Marco, Alba
Galiana Richart, Jorge
author_role author
author2 Sayeras, Josep M.
Rocafort Marco, Alba
Galiana Richart, Jorge
author2_role author
author
author
dc.contributor.none.fl_str_mv Universitat Ramon Llull. Esade
dc.subject.none.fl_str_mv Airbnb
topic Airbnb
description Purpose: The aim of this study is to analyze the existence of a relationship between the presence of nearby substitute products, mainly Airbnb flats or rooms, and the effect on the revenue and profitability of hotels. Design/methodology/approach: The empirical study is based on the analysis of financial information provided in the annual reports of a sample consisting of 43 hotels (11.78% of the population). As an explanatory variable for profitability, we have considered the presence of apartments listed in Airbnb that are no farther than one kilometer from each hotel. Considering that most of the variables used do not follow a normal distribution, the existence of a relationship between profitability and the explanatory variables has been tested using non-parametric tests, namely, the Spearman correlation coefficient and Kruskall-Wallis test. Findings: We found a positive correlation between presence of Airbnb apartments and return on equity. This fact can be explained by considering the presence of Airbnb apartments as a variable that measures the attractiveness of the location from a tourist’s point of view. Hotels located near the city center or main tourist areas of the city have a higher level of profitability. We also found no evidence of any relationship between profitability and star category; 4- and 3-star hotels have experienced, on average, a lower drop in revenues between 2008 and 2013 and they also obtained a higher average level of profitability in 2013 as compared to the upper segment of 5-star hotels. Research limitations/implications: This research has been conducted in the city of Barcelona. Future research using the same methodology should be applied to other cities with an important hospitality sector to reinforce our findings. The main implications of this research refer to the importance of location as a key strategic variable in hospitality, and to the change in the system customers use to evaluate the quality of a hotel, according to which the traditional star category system has been partially replaced by new sources of information available through the new communication technologies. Originality/value: This paper is one of the first contributions that scholars have made to obtain a deeper understanding of the effects of the new forms of the sharing economy, focusing on the hospitality industry.
publishDate 2017
dc.date.none.fl_str_mv 2017
2025
2025
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv http://hdl.handle.net/20.500.14342/5116
http://doi.org/10.3926/ic.921
url http://hdl.handle.net/20.500.14342/5116
http://doi.org/10.3926/ic.921
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Intangible Capital
dc.rights.none.fl_str_mv © L'autor/a
Attribution-NonCommercial 4.0 International
http://creativecommons.org/licenses/by-nc/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv © L'autor/a
Attribution-NonCommercial 4.0 International
http://creativecommons.org/licenses/by-nc/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 13 p.
application/pdf
dc.publisher.none.fl_str_mv OmniaScience
publisher.none.fl_str_mv OmniaScience
dc.source.none.fl_str_mv reponame:DAU Arxiu Digital de la Universitat Ramon Llull
instname:Universitat Ramon Llull (URL)
instname_str Universitat Ramon Llull (URL)
reponame_str DAU Arxiu Digital de la Universitat Ramon Llull
collection DAU Arxiu Digital de la Universitat Ramon Llull
repository.name.fl_str_mv
repository.mail.fl_str_mv
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