Hedonic price analysis for high-end rural homestay room rates

This study analyzes the impact of internal features and external environmental attributes on room prices by using geographic weighted regression (GWR) in high-end rural homestays in China. The results show that (1) distance from the scenic spots (Sdistance) and the number of employees have the most significant effects on room prices; (2) the physical geography factors (slope and aspect) of the homestay have a positive impact on its room price; (3) the GWR coefficient clearly reflects the heterogeneity of the space and the verified GWR is more suited to homestay room pricing. The study expands the hedonic potential for market analysis in the homestay sector and provides operators of high-end rural homestays with the managerial implications of establishing an effective strategy for room pricing and has a certain guiding significance for the layout of homestay industry.