Transactions worse than most predicted.

Transactions worse than most predicted.

The article focuses on the decline of hotel transaction volume, especially in the luxury segment, in the U.S. in 2008. Art Adler, chief executive officer (CEO) of Jones Lang LaSalle Hotels, reveals that their total transaction volume for the first nine months of the year was $7.2 billion compared to $36 billion in 2007. Daniel Beider, managing director of Paramount Lodging Advisors, explains that the decline is caused by the drop in portfolio sales and the decrease in taking real estate investment trusts private. According to the author, brokers in the country are hopeful that the industry could improve their performance at the end of the year.

Hanna, E. (2008, October 20). Transactions worse than most predicted. Hotel & Motel Management, 223(18), 22-22. Retrieved October 17, 2008, from Hospitality & Tourism Complete database.

Hospitality & Tourism Complete

This study identified the most frequently cited tourism scholars in two time periods (1970–2007, and 1998–2007). Google Scholar (www.scholar.google.com) and Publish or Perish (www.harzing.com) were used to analyze citation counts. A total of 58 tourism academics registered at least 500 citations for their books and journal articles published at any time between 1970 and 2007, while a minimum of 250 citations were recorded by 48 authors for their works published since 1998. The study suggests that Google Scholar and Publish or Perish may provide an alternative means to develop impact scores for tourism scholars, provided a number of codicils are considered. [Copyright 2008 Elsevier]

McKercher, B. (2008, December). A citation analysis of tourism scholars. Tourism Management, 29(6), 1226-1232. Retrieved October 17, 2008, doi:10.1016/j.tourman.2008.03.003

The impact of cultural orientation on perceived fairness over demand-based pricing

Abstract: Revenue management practices are now being implemented by hotel firms on a global scale. This requires a finer understanding of how different cultures will relate to perceived unfairness that stems from the inequities inherent in demand-based pricing. In this context, individualism and collectivism as cultural constructs have been used extensively in cross-cultural research. These constructs are manifested with vertical and horizontal orientations that distinguish social patterns based on the acceptance of a hierarchy or conversely the preference over equality. The purpose of this study was to examine the relationships between vertical and horizontal orientations of individualism and collectivism with perceived price fairness over demand-based pricing. Findings indicate that vertical individualism has a significantly positive relationship with perceived price fairness. This can be attributed to the inherent acceptance of inequality in this cultural dimension combined with the emphasis of the individual over the collective unit. Marketing implications for lodging managers are discussed. [Copyright 2008 Elsevier]

Schmidt, S., Cantallops, A., & dos Santos, C. (2008, December). The characteristics of hotel websites and their implications for website effectiveness. International Journal of Hospitality Management, 27(4), 504-516. Retrieved October 17, 2008, doi:10.1016/j.ijhm.2007.08.002

Segment transformation in urban tourism

Segment transformation in urban tourism

This study tests the proposition that market segments transform unevenly as distance from the source increases. It builds on distance decay theory by extending the concept to a sub-market or segment-specific level. To date, no research has examined the transformation of market segments with distance.

McKercher, B. (2008, December). Segment transformation in urban tourism. Tourism Management, 29(6), 1215-1225. Retrieved October 17, 2008, doi:10.1016/j.tourman.2008.03.005

The characteristics of hotel websites and their implications for website effectiveness

Hotels are increasingly taking advantage of the Internet as a marketing tool able to provide direct contact with customers, but is the full potential of this tool being exploited? This article constructs and validates an instrument for the measurement of website characteristics and relates those characteristics to website performance, using structural equation modeling. The results indicate that small and medium size hotels in the Balearic Islands in Spain, a developed tourist destination, and in the South of Brazil, a developing destination, are using their websites as mass media tools; ignoring the potential for interactivity and one-to-one communication. It is suggested that hoteliers should adopt a more strategic approach to the Internet, preparing the ground for direct contact with customers. [Copyright 2008 Elsevier]

Schmidt, S., Cantallops, A., & dos Santos, C. (2008, December). The characteristics of hotel websites and their implications for website effectiveness. International Journal of Hospitality Management, 27(4), 504-516. Retrieved October 17, 2008, doi:10.1016/j.ijhm.2007.08.002

The profitability impact of REIT requirements: A comparative analysis of hotel REITS and hotel C-Corporations

The profitability impact of REIT requirements: A comparative analysis of hotel REITS and hotel C-Corporations

This study aims to investigate whether hotel REITs are more profitable than hotel C-Corps and how REIT regulations contribute to this difference. The results indicate that despite the differences in tax obligation, operating expense, and dividend policy, hotel REITs and hotel C-Corporations are not significantly different in profitability. However, the analysis suggests that hotel C-Corps have advantage over hotel REITs in improving profitability through dividend payout increases.



Tang, C., & Jang, S. (2008, December). The profitability impact of REIT requirements: A comparative analysis of hotel REITS and hotel C-Corporations. International Journal of Hospitality Management, 27(4), 614-622. Retrieved October 17, 2008, doi:10.1016/j.ijhm.2007.07.026