Who benefits more from trade shows: Independent, franchised or chain-owned/managed hotels?

Large-scale events are opportunities for hotels to generate revenue. The literature has attested positive effects of events on hotel performance. However, while large-demand events are associated with room rate increases, hotel operation types may play a critical role in this "event-hotel performance" relationship. Drawing on the resource -based view theory, the chain value model and the theory of strategic groups, we hypothesize that independent and franchised hotels outperform chain-owned/managed hotels when events are held. The empirical application on over 950,000 observations between 2014 and 2019 shows that while chain-owned/managed hotels generally outperform independent and franchised hotels, this situation reverses in the presence of events. This result ex-tends the resource-based view theory and the value chain model by including the short/long-term and corporate/ property paradigm in the hotel industry.