The Hidden Price of Hotel Features Forming Room Rate: Focused on Star-type Segmented Market in China

Du Xiaoning,Jellna Chung 사람과세계경영학회 2020 Global Business and Finance Review Vol.25 No.2

Purpose: This study is to analyze the price characteristics of three- to five-star hotel room prices in Beijing Central Business District to find the hidden prices of hotel rooms in the area. Design/methodology/approach: This research used the hedonic price model to analyze the data collected by the network search engine to find hidden elements that affect the price of hotel rooms. The feature variables of the hotel are divided into three categories including internal features, external features and time features in two different markets: the overall market and the star-type segmented market in China. Findings: In the overall market, among hotel room interior features, hotel star rating, room area, free breakfast, food & beverage service quality, hotel facilities & equipment and free internet service have an impact on the hotel room price, with an implied price. For the hotel room exterior features, distance and the hotel-owned business district have a significant relationship with the price of the hotel room, with an implied price. In the star-type segmented market, all hotel room interior features have a significant relationship with the hotel price. Also, the features of competitors have very significant implied prices, which will greatly impact the pricing of hotel rooms in the star-type segmented market. Research limitations/implications: Managers can decide whether to improve the investment in a feature to increase the quality of the feature, or to control the cost of the feature to reduce unnecessary expenditure through the calculation results. Since the study was conducted only in the Beijing area, extended research must be carried out beyond Beijing to achieve more universal applicability. Originality/value: This study investigated the pricing of hotel rooms based on the hedonic price method to explore the price elasticity of the relevant features of hotel room products, and understand the needs and preferences of consumers in different market segments. It established different star segment market models and analyzed the differences in the types and elasticity of the features of significant implied prices in different star market models.

The Relationship between Degree of International Diversification and Financial Performance in Restaurant Service Industry: Evidence from U.S.

Akhmedov Armigon(아르미곤),Jellna Chung(정젤나),Jeong-Gil Choi(최정길) 대한경영학회 2016 大韓經營學會誌 Vol.29 No.2

국제다각화는 수많은 레스토랑 기업들이 널리 적용하는 전략적으로 중요한 전략이다. 기존 연구 문헌에 따르면, 연구자들은 국제다각화가 기업 재무성과에 미치는 영향에 대한 상반된 관점을 가지고 있다. 즉, 일부 연구자들은 국제다각화가 기업 재무성과에 긍정적인 효과를 미친다고 주장하는 반면에 다른 연구자들은 국제다각화가 부정적인 영향을 미친다고 주장한다. 일관성이 결여된 결과물과 결론에 이르지 못한 연구 결과의 원인은 기존 연구의 방법론적인 오류와 잘못 적용된 이론 때문일 수 있다. 전략적 경영 분야에서 가장 중요한 연구 주제 중의 하나인 국제다각화와 기업 재무성과와의 연관관계는 광범위하게 탐구되어왔다. 그러나, 기존 연구에서 국제다각화가 레스토랑 기업의 재무성과에 미치는 영향을 조사하는 연구와 그 연관관계의 특정패턴을 규명하고자 시도하는 연구는 상당히 결여되어 있다. 또한, 기존에 이루어졌던 대부분의 연구에서는 제조 기업이나 다양한 혼합 산업 회사들을 표본으로 사용했다. 이 연구는 여러 관련 이론과 레스토랑 기업의 특징을 기반으로 국제다각화와 재무성과 사이의 연관관계의 형식에 있어서 레스토랑 분야는 다른 산업과 다르다는 점을 주장한다. 연구의 목적을 달성하기 위해서 피어슨 상관관계 분석 및 다중회귀 분석이 사용되었다. 본 연구의 표본은 미국을 근거지로 한 45개의 상장 MNRCs(multinational restaurant companies, 다국적 레스토랑 기업)이고 2008년부터 2012년에 걸쳐 204회의 관찰된 수(number of observations)로 구성되어 있다. 분석 결과는 예상된 것과 달랐다. 본 연구 결과에서 국제다각화는 레스토랑 기업 재무성과와 음의 선형관계(negative linear relationship)를 갖는다는 것으로 나타났다. 이러한 연구 결과는 레스토랑 기업 경영진은 국제다각화 전략을 실행할 때, 더 정교하고 신중한 의사결정이 필요하다는 점을 시사하고 있다. 미국 다국적 레스토랑 기업 경영진이 사업을 국제다각화를 통한 확장을 결정할 때 이 결정에 대한 진지한 고민과 철저한 시장 조사는 반드시 선행되어야 한다. 본 연구의 결과는 이 분야 연구자들의 더 깊은 이해와 연구뿐만 아니라 레스토랑 기업인들의 실무에도 도움이 될 수 있다. International diversification is a prevalent and strategically important strategy applied by numerous restaurant companies. According to previous research literature on the subject, researchers have contradictory perspectives regarding the effects of international diversification on company performance. That is while some argue that it has positive effects on company performance, others argue that it has negative impacts on it. This lack of consistent findings and inconclusive results might be due to potential methodological and theoretical causes. Being one of the most significant topics for research, international diversification-performance relationship has been extensively explored in strategic management literature. Nevertheless, a major void in the literature has been the scarcity of studies that have investigated the effect of international diversification on performance of restaurant companies and attempted to find the particular patterns of the relationships between these variables. Moreover, most of the previous studies that investigated this topic were based extensively on the sample of manufacturing companies or firms from various mixed industries. Based on the theories and distinct differences of restaurant companies this study argues that the form of the relationship between internationalization and performance is different from other industries. To accomplish research purposes, this study applied Pearson’s correlation and multiple regression analysis. The sample of this study consists of 45 U.S. based public multinational restaurant companies (MNRCs) with 204 observations over the period of 2008~2012. The outputs of the analysis are different from what they were expected. The results of this study indicate that international diversification has a negative linear relationship with restaurant company performance. Based on the findings, it is suggested that restaurant company managers need more elaborate and prudent decision making, when implementing international diversification strategy. It is strongly advised that managers of the U.S. MNRCs should conduct rigorous market research and not rush when making a decision to expand company operations internationally. The results of this study can be used not only for the further understanding and research by academicians, but also in practice by industry professionals.

중국인 관광객의 관광목적지 선택에 영향을 미치는 정보원천 및 관광정보 선택속성에 관한 연구

량천(Liang Chen),정젤나(Jellna Chung),최정길(Jeong-Gil Choi) 대한경영학회 2017 大韓經營學會誌 Vol.30 No.1

Fund Performance During Recessions and Expansions in Korea

정문경,Yong-Hyeon Kim,Jellna Chung 사람과세계경영학회 2020 Global Business and Finance Review Vol.25 No.3

Purpose: This study explores the relationship between the performances of national equity funds and business cycles in Korea. Design/methodology/approach: First, this research examines how fund performance is better in recessions than in expansion periods and then analyzes fund performance by dividing funds into active and passive operating styles. Last, what risk factors affect performance with respect to business cycles and operating cycles are investigated. Findings: The empirical findings show that fund performance is affected by the economic variables of short-term interest rates, credit risk spread, growth in money stock, and corporate value.However, the effects change with the business cycle.In addition, the fund performance of overall, internal, and outsourcing investments is better in recessions than in expansion periods, which agrees with foreign studies. Research limitations/implications: When assessing fund managers' abilities, not only quantitative performance but also qualitative assessment - economic conditions - become important.It is necessary to evaluate fund performance with a system that considers economic fluctuations. Originality/value: This is the first research to analyze the performance of the national pension fund using the regime-switching model in the Korean market.

호텔 종사원에 대한 내부마케팅이 직무몰입과 조직몰입을 통한 경영성과에 미치는 영향에 관한 연구

이현규(Hyun-Kyu Lee),정젤나(Jellna Chung),최정길(Jeong-Gil Choi) 대한경영학회 2017 大韓經營學會誌 Vol.30 No.12

소비자의 위험인지에 영향을 미치는 정보출처와 온라인 숙박공유사업 이용의도에 관한 연구: 에어비앤비 중심으로

설원 ( Xue Yuan ),최정길 ( Jeonggil Choi ),정젤나 ( Jellna Chung ) 관광경영학회 2020 관광경영연구 Vol.100 No.-

숙박공유사업이 빠르게 발전하면서 온라인 숙박 공유 플랫폼이 점점 더 많은 소비자들에게 받아들여지고 있다. 대표적으로 에어비앤비는 공유경제 플랫폼의 가장 성공적인 사례 중 하나이다. 하지만 에어비앤비 관련 부정적인 뉴스가 늘어나면서 소비자들은 온라인 숙박 공유 플랫폼을 이용함에 있어 여러 위험요소를 실감하고 있다. 따라서 본 연구의 목적은 부정적인 정보출처가 소비자로 하여금 어떠한 위협을 인지하게 하는지 파악하고, 인지된 위험이 공유숙박으로 대표되는 에어비앤비 이용의도에 어떤 연관성이 있는지 검증하였다. 정준상관관계 분석과 다중회귀분석을 통해 '부정적 정보'와 '소비자가 인지한 위험' 두 변수 간 높은 정(+)의 관계가 있음이 나타났으며, 인지된 위험은 소비자의 에어비앤비 사용 의사에 유의한 영향을 미치는 것으로 나타났다. 특히 정보원천 중에 소비자의 부정적인 과거 경험이 위험을 증가시키는데 가장 큰 역할을 하며, 위험요소 중에는 불법촬영과 같은 자신의 안전을 위태롭게 할 수 있는 물리적 위험을 공유숙박 이용 소비자들이 가장 두려워하는 것으로 밝혀졌다. 본 연구는 비교적 새로운 개념의 공유숙박산업의 건강한 발전을 위한 이론적 및 실무적 시사점을 제시하고 있다.

International Tourists’ Awareness and Attitude about Environmental Responsibility and Sustainable Practices

Shinar Mazhenova,Jeong Gil Choi,Jellna Chung People&Global Business Association 2016 Global Business and Finance Review Vol.21 No.2

This study explored tourists’ attitude towards the environmental practices of hotels and tourist organizations in South Korea. Specifically this study investigated their knowledge of green hotels’ environmental programs and how this knowledge influences their decision to purchase green accommodations. This study also investigated the impact of nationality on the attitude of international tourists towards environmentally friendly practices of the hotel and tourism industry in South Korea. In order to capture public perceptions, this study used focus group interviews that can provide deeper meaning in an interactive manner. The interview session for this study included six interviews of small groups of five people in each. Three major groups of international visitors to Korea from CIS countries (such as Russia, Kazakhstan, Uzbekistan and Azerbaijan), the United States of America and China were included in this study. Results show that environmental awareness of the tourists is a predictor for changing their attitude and consequently their purchasing behavior. Respondents who showed a high level of awareness expressed their willingness and readiness to participate in the green practices of the hotel and tourism industries. With regard to the impact of nationality on tourists’ attitude, the results from this study do not support the findings from earlier studies. No differences were discovered in the environmental attitude of international tourists to South Korea. These findings say that it is important for hotels and tourism organizations to provide information about their environmental policies and practices in order to raise tourists’ awareness of environmental issues.

Extending the Technology Acceptance Model (TAM) to Explore Customer’s Behavioral Intention to Use Self-Service Technologies (SSTs) in Chinese Budget Hotels

Ke Yang,Jeong-Gil Choi,Jellna Chung People&Global Business Association 2021 Global Business and Finance Review Vol.26 No.1

Purpose: With the development and increasing adoption of the Internet in the early 21st century, SSTs (Self-Service Technologies) rapidly permeated all aspects of life. Many service providers in China are adopting a wide range of SSTs. This is mainly because they think SSTs improve customer service, increase productivity, and reduce costs. Problem is how potential customers perceive the SSTs and behave. Design/methodology/approach: This study hypotheses that the original TAM and extended TAM would not apply to customers using SSTs in Chinese budget hotels. All the relationships among variables on these models were tested by using a Structural Equation Model (SEM). Findings: Results proved that all of the relationships on the original TAM do apply to customers using SSTs in Chinese budget hotels. However, the extended TAM does not fit into this particular market. Research limitations/implications: This study examined the TAM with perceived risk and perceived playfulness to determine the factors influencing customers’ behavioral intention to use SSTs in budget hotels. This approach is likely to ensure a stable theory development. Hence, the proposed model makes an important contribution to the emerging literature on SSTs. Moreover, this study originally hypothesized perceived risk affected on customers’ satisfaction and behavioral intention to use SSTs in Chinese budget hotels. But it is rejected. Originality/value: This study offers empirical evidence and makes contribution to future research related to further developing an understanding of the relationship between perceived risk and SSTs adoption.