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A comment on the market value of a room with a view

2001; Elsevier BV; Volume: 55; Issue: 2 Linguagem: Inglês

10.1016/s0169-2046(01)00148-7

1872-6062

Eckart Lange, Peter V. Schaeffer,

Consumer Market Behavior and Pricing

Views are very attractive to most people. Their monetary value is hard to quantify, however. Indications for the value of views are derived from the pricing of hotel rooms in Zürich, Switzerland. The higher price, which is charged for rooms with a view compared with those without a view, directly reflects the market value of the view. This type of information, though site specific, and therefore not necessarily representative, may be more persuasive to the public than information that is derived from sophisticated estimation procedures.