Determination of hedonic hotel room prices with spatial effect in Antalya

Abstract

The purpose of the study is to create a hedonic price model containing spatial effect by identifying the accommodation facilities’ characteristics that affect the roomrates in Antalya (Turkey) area. In this context, the data of 1444 hotels in Antalya was obtained. Since there was a spatial relationship between them, a spatial regressionmodel was proposed. Explanatory spatial data analysis was applied to variables by stepwise regression. The Hedonic Price Model was established using Spatial Lag Model and it reveals that it is applicable to similar studies.