文章基本信息

标题：The Impact of Conventions on Hotel Demand Evidence from Indianapolis Using Daily Hotel Occupancy Data
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作者：Colin Steitz ; Joshua Hall
期刊名称：Journal of Risk and Financial Management
印刷版ISSN：1911-8074
出版年度：2020
卷号：13
期号：10
页码：1-15
DOI：10.3390/jrfm13100229
语种：English
出版社：MDPI, Open Access Journal
摘要：This paper uses daily hotel occupancy data for the Indianapolis metro area from STR toestimate the effect of multi-day conventions on hotel demand. In addition to multi-day conventions,we hand collect data on other major events such as the Indy 500 and major sporting events.Hotel demand is an important part of the economic activity generated by multi-day events becausehotel rooms are largely occupied by out-of-town guests and represent new local economic activity.We look at the effect of conventions and other large events in Indianapolis on average daily room rates,revenue per room, demand, occupancy, and total revenue. We find large and statistically significanteffects for multi-day conventions on hotel demand with very little evidence of crowding out.A single day of a multi-day convention brings in approximately $928,000 in additional hotel revenue.Our findings contribute to the literature on the economic impact of large events such as conventionsand sporting events that attract out-of-town visitors.
关键词：tourism; hotel demand; conventions; football; sports economics; vistors