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Article

Fluctuations in Hong Kong Hotel Industry Room Rates under the 2019 Novel Coronavirus (COVID-19) Outbreak: Evidence from Big Data on OTA Channels

1
Shenzhen Tourism College, Jinan University, Shenzhen 518053, China
2
School of Hotel and Tourism Management, The Hong Kong Polytechnic University, 17 Science Museum Road, TST East, Kowloon, Hong Kong 999077, China
*
Author to whom correspondence should be addressed.
Sustainability 2020, 12(18), 7709; https://doi.org/10.3390/su12187709
Submission received: 28 August 2020 / Revised: 11 September 2020 / Accepted: 16 September 2020 / Published: 18 September 2020

Abstract

The infectious pneumonia caused by the 2019 novel coronavirus (COVID-19) has spread rapidly worldwide, crippling the global tourism industry’s development and operations. In Hong Kong, where tourism is a pillar industry, the hotel industry is essential to maintaining a stable economy. Facing multiple forms of pressure, the industry’s status deserves close attention. More than 200 hotels in Hong Kong were taken as the research set in this study. A Python-based web crawler was used to collect daily hotel prices from various online travel agencies. Repeated-measures analysis of variance (ANOVA), correlation analysis, and descriptive analysis were employed to study hotels’ room rate fluctuations over time. Results indicated that room rates across hotels in Hong Kong were primarily influenced by holidays and festivities prior to COVID-19, whereas rates tended to decline after the outbreak. Data analysis based on hotels’ star ratings revealed that 5-star hotels were relatively less affected by COVID-19 while 4- and 4.5-star hotels were most seriously affected. District-level analysis also showed that hotel room rates were differentially influenced by the virus: Hong Kong’s Islands district was hit hardest, followed by Kowloon. These findings offer valuable implications for hotel managers and relevant government departments in making rational decisions based on the current market state.
Keywords: hotel industry; price fluctuation; big data; COVID-19; Hong Kong hotel industry; price fluctuation; big data; COVID-19; Hong Kong

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MDPI and ACS Style

Wu, F.; Zhang, Q.; Law, R.; Zheng, T. Fluctuations in Hong Kong Hotel Industry Room Rates under the 2019 Novel Coronavirus (COVID-19) Outbreak: Evidence from Big Data on OTA Channels. Sustainability 2020, 12, 7709. https://doi.org/10.3390/su12187709

AMA Style

Wu F, Zhang Q, Law R, Zheng T. Fluctuations in Hong Kong Hotel Industry Room Rates under the 2019 Novel Coronavirus (COVID-19) Outbreak: Evidence from Big Data on OTA Channels. Sustainability. 2020; 12(18):7709. https://doi.org/10.3390/su12187709

Chicago/Turabian Style

Wu, Feiran, Qianxi Zhang, Rob Law, and Tianxiang Zheng. 2020. "Fluctuations in Hong Kong Hotel Industry Room Rates under the 2019 Novel Coronavirus (COVID-19) Outbreak: Evidence from Big Data on OTA Channels" Sustainability 12, no. 18: 7709. https://doi.org/10.3390/su12187709

APA Style

Wu, F., Zhang, Q., Law, R., & Zheng, T. (2020). Fluctuations in Hong Kong Hotel Industry Room Rates under the 2019 Novel Coronavirus (COVID-19) Outbreak: Evidence from Big Data on OTA Channels. Sustainability, 12(18), 7709. https://doi.org/10.3390/su12187709

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