Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223701
Title: DOES PRICE MATTER IN THE CHOICE OF SERVICED APARTMENT?
Authors: LEONG WEN JIA
Keywords: Real Estate
Ooi Thian Leong Joseph
2010/2011 RE
Price consciousness
Selection
Serviced apartment
Singapore
Travellers
Issue Date: 20-Apr-2011
Citation: LEONG WEN JIA (2011-04-20). DOES PRICE MATTER IN THE CHOICE OF SERVICED APARTMENT?. ScholarBank@NUS Repository.
Abstract: This dissertation addresses two questions related to the selection of a serviced apartment. First, does price matter? Second, what are the characteristics of the users who are price conscious? A survey covering 132 serviced apartment users was conducted between 24th January 2011 and 14th February 2011. The sample covers serviced apartments managed by Far East Hospitality, Frasers Hospitality and The Ascotts. Results of the survey affirm that price is a significant consideration in the selection of serviced apartment. In addition, the study also found that beside pricing, quality is also a significant consideration. Thereafter, a probit model on the probability of price consciousness was estimated. The results indicate that the longer the duration of stay, the lower the probability of being price conscious. Travellers who came with a companion are more likely to be price conscious than those who are alone and those who pay lower for their accommodation per month are more likely to be price conscious. The factors such as gender, age, purpose of trip and reimbursement have no significant relationship on price consciousness. Keywords: Serviced apartment, Travellers, Selection, Price consciousness, Singapore
URI: https://scholarbank.nus.edu.sg/handle/10635/223701
Appears in Collections:Bachelor's Theses

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