Factores que Influyen en el Precio de Hoteles en Booking.com. El Caso de Santiago de Chile

Abstract

This research discusses the effect of different variables on the price of hotel services in Chile and establishes whether there is a correlation between prices and user ratings. In doing so, a multivariate linear regression model was used to analyse a set of 145 hotels available in Booking.com in Santiago de Chile during three seasons. The findings suggest that social media are an effective tool in addressing information asymmetry issues in the hotel industry. There is a positive correlation between the price of hotels and the score assigned by users. Other variables that have some impact on prices were also found, including location and number of comments. The findings suggest that the hotel industry should pay greater attention to comments management in order to improve its price position in the market. This means relying on a post sales policy that can monitor guest experience and take the relevant corrective actions to improve user experiences.