Effects of Price and UGC on Hong Kong Travelers’ Perceived Value of Hotels: The Mitigation Effects of User Online Ratings and Reviews on Hotel Price Sensitivity among Hong Kong Travelers
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Leisure travelers use various information to make better decision for their hotel selection. Price is utmost important information for leisure travelers’ hotel selection. Recent proliferation of distribution of hotel rooms through Online Travel Agencies (OTAs) makes the travelers even more sensitive to price. This study proposes that non-price information, namely UGC (User Generated Contents) (aggregated customer rating and valence of recent reviews), may mitigate the price sensitivity of leisure travelers. It examines how UGC influence the effects of price on Hong Kong leisure travelers for a hotel. The study finds that positive UGC decreases that negative effects of price on perceived value of Hong Kong leisure travelers for a hotel. Inconsistent with previous literature, consumer rating is found to play a more salient role in customers’ value judgments than recent review valence. Hong Kong travelers are found to pay attention to recent review valence only when the ratings are low.
Abstract
Leisure travelers use various information to make better decision for their hotel selection. Price is utmost important information for leisure travelers’ hotel selection. Recent proliferation of distribution of hotel rooms through Online Travel Agencies (OTAs) makes the travelers even more sensitive to price. This study proposes that non-price information, namely UGC (User Generated Contents) (aggregated customer rating and valence of recent reviews), may mitigate the price sensitivity of leisure travelers. It examines how UGC influence the effects of price on Hong Kong leisure travelers for a hotel. The study finds that positive UGC decreases that negative effects of price on perceived value of Hong Kong leisure travelers for a hotel. Inconsistent with previous literature, consumer rating is found to play a more salient role in customers’ value judgments than recent review valence. Hong Kong travelers are found to pay attention to recent review valence only when the ratings are low.
참고문헌 (20)
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