Researchers from Texas Christian University, University of South Carolina, and RealPage published a new Journal of Marketing article that examines the impact of online reviews on hotel booking performance with a specific focus on the competitive effects of reviews.
Understanding how a hotel's user reviews compare against the competition can help it make better pricing decisions without dropping occupancy numbers and affecting revenue. However, it is not clear how the effect of competitor reviews on a hotel's demand compares to the effect of the hotel's own reviews.This new study investigates the impact of online reviews on hotel booking performance with a specific focus on the competitive effects of reviews.
At the same time, an improvement in its competitors' sentiment score by 1% could decrease its bookings by 0.25%. Additionally, for a hotel that charges Apart from a hotel's own review scores, its competitors' scores can impact the bookings—and this impact is even higher if the volume of reviews is high. Thus, hotel managers must evaluate and improve their scores relative to the competition.
Reviews where consumers need to rely on the experiences of others to assess the quality of the experience in a hotel has more impact than a search attribute such as location, where information can be obtained directly from a hotel's website or some other external source. The impact of review sentiment by consumer segment and by review content can help hotel managers understand where to direct their efforts in responding to reviews and addressing consumer concerns.
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