Are Travelers Willing to Pay a Premium to Stay at a “Green” Hotel? Evidence from an Internal Meta-Analysis of Hedonic Price Premia

Nicolai V. Kuminoff · Congwen Zhang · Jeta Rudi

117 citations0/0 files storedAgricultural and Resource Economics Review

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Environmental Sustainability in Business Diverse Aspects of Tourism Research Economic and Environmental Valuation

Abstract

A growing number of hotels provide “green” lodging for travelers with strong environmental preferences. Twelve states have developed certification programs to regulate these claims. After describing the new market for green lodging, we use data on prices and amenities of “green” and “brown” hotels in Virginia to estimate a hedonic model of hotel room pricing. We find that travelers can expect to pay a significant premium for a standard room in a green hotel. An internal meta-analysis is used to evaluate the robustness of this result to subjective econometric modeling decisions. Our results indicate a premium between $9 and $26.

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References

1974Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition 2012Predicting the Present with Google Trends 1988On the Choice of Funtional Form for Hedonic Price Functions 2008The Use (and Abuse) of Meta-Analysis in Environmental and Natural Resource Economics: An Assessment 2007Do greens drive Hummers or hybrids? Environmental ideology as a determinant of consumer choice 2006Private provision of environmental public goods: Household participation in green-electricity programs 2004Identification and Estimation of Hedonic Models 2017Identification and estimation of hedonic models

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