Land and Housing Review (토지주택연구)

Land and Housing Research Institute (한국토지주택공사 토지주택연구원)
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Analysis on the Determinants of Hotel Occupancy Rate in Jeju Island

제주지역 호텔이용률에 영향을 미치는 결정요인 분석

  • Received : 2018.10.14
  • Accepted : 2018.12.06
  • Published : 2018.12.31
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Abstract

As the volatility increasement of the number of tourist, there was been controversy over supply-demand imbalance in hotel market. The purpose of this study is to analysis on determinants of hotel occupancy rate in Jeju Island. The quantitative method is based on cointegrating regression, using an empirical dataset with hotel from 2000 to 2017. The primary results of research is briefly summarized as follows; First, there are high relationship between total hotel occupancy rate and hotel occupancy of foreign tourist. The volatility of hotel occupancy is caused by foreigner user than local tourists though local tourist high propotion of hotel occupancy in Jeju Island. Second, hotel occupancy of local tourist has not relationship with demand and supply variables. Because some hotel users are not local tourists but local resident, and effects to other variables of hotel consumer trend, accommodation such as Guest house, Airbnb. Third, there are high relationship between foreign hotel occupancy rate and demand-supply variables. These research imply that total management of supply-demand is very important to seek stability of hotel occupancy rate in Jeju Island. Also it can provide a useful solution regarding mismatch problem between supply-demand as well as development the systematic forecasting model for hotel market participants.

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