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The financial impact of loyalty programs in the hotel industry: A social exchange theory perspective

机译:忠诚度计划在酒店行业中的财务影响:一种社会交流理论的视角

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摘要

With increased competition across the hotel industry for frequent travelers, who generate a disproportionate portion of revenue, loyalty programs appear to be a rational response to the competitive environment. The question remains, however, as to whether these programs are effective at increasing the profitability of hotel operators. This study analyzes the impact of customer loyalty programs on the industry specific performance metrics of occupancy rate, revenue, and operating margin. Utilizing a comprehensive database of 36 different hotel brands (e.g., Marriot, Hilton) encompassing 31 loyalty programs and 435 different hotel properties, we examine whether a loyalty program is indeed an effective tool to increase operating margin. In summary, empirical results suggest that investment in hotel loyalty programs has a positive impact on occupancy rates and profitability. And although the overall effect is modest, these results have several managerial implications for the hotel industry.
机译:随着整个酒店行业对经常出差的旅行者的竞争日益激烈,他们产生了不成比例的收入,忠诚度计划似乎是对竞争环境的合理反应。但是,关于这些计划是否有效提高酒店运营商的盈利能力,仍然存在问题。本研究分析了客户忠诚度计划对行业特定的绩效指标(占用率,收入和营业利润率)的影响。利用36个不同酒店品牌(例如Marriot,Hilton)的全面数据库,其中包括31个忠诚度计划和435个不同的酒店资产,我们研究了忠诚度计划是否确实是增加营业利润率的有效工具。总而言之,实证结果表明,对酒店忠诚度计划的投资对入住率和盈利能力有积极影响。尽管总体效果不大,但这些结果对酒店业有一些管理意义。

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