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Airbnb and hotel revenues in popular Greek destinations

Nicholas Apergis (University of Derby, Derby, UK)
Tasawar Hayat (King Abdulaziz University, Jeddah, Saudi Arabia) (Quaid-i-Azam University, Islamabad, Pakistan)
Tareq Saeed (King Abdulaziz University, Jeddah, Saudi Arabia)

Journal of Economic Studies

ISSN: 0144-3585

Article publication date: 19 August 2020

Issue publication date: 27 April 2021

347

Abstract

Purpose

This paper explores the role of Airbnb listings on hotel revenues in certain popular Greek tourist destinations.

Design/methodology/approach

This paper explores the role of Airbnb listings on hotel revenues in certain popular Greek tourist destinations. The analysis makes use of the panel GMM method, while the findings document that the Airbnb listings exert a negative impact on hotel revenues.

Findings

The results indicate that it is primarily non-business and low-price hotels that are being influenced, while the hotel industry responds to the competition through lower room prices and not through occupancy rates. The paper documents that although the Airbnb is a new factor in the Greek tourism industry, it has turned into a significant competitor against hotels.

Originality/value

This is the first paper which documents that although Airbnb is a new factor in the Greek tourism industry, it has turned into a significant competitor against hotels. The findings are expected to provide further insights into the workings of the sector and the potential regulated policies needed to be adopted.

Keywords

Acknowledgements

Funding: The author(s) received no financial support for the research, authorship, and/or publication of this article.Acknowledgements: The authors thank two reviewers from the journal whose comments and suggestions enhanced the merit of this paper. Special thanks also go to the Editor who gave them the opportunity to revise their work.Declaration of Conflicting Interests: The author(s) declared no potential conflicts of interest with respect to the research, authorship, and/or publication of this article.

Citation

Apergis, N., Hayat, T. and Saeed, T. (2021), "Airbnb and hotel revenues in popular Greek destinations", Journal of Economic Studies, Vol. 48 No. 4, pp. 804-816. https://doi.org/10.1108/JES-11-2019-0512

Publisher

:

Emerald Publishing Limited

Copyright © 2020, Emerald Publishing Limited

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