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HOTEL DEMAND BEFORE, DURING, AND AFTER SPORTS EVENTS: EVIDENCE FROM CHARLOTTE, NORTH CAROLINA
Author(s) -
Depken Craig A.,
Stephenson E. Frank
Publication year - 2018
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/ecin.12572
Subject(s) - occupancy , revenue , economics , politics , debt , service (business) , event study , finance , advertising , marketing , business , economy , history , political science , law , engineering , context (archaeology) , archaeology , architectural engineering
This paper uses daily hotel occupancy data to examine the effects of a wide variety of political and sporting events on the hotel room market of Charlotte, North Carolina from 2005 to 2014. Two political conventions and NASCAR auto races are associated with large increases in hotel occupancy, prices, and revenue, but many other events have no discernable effect on Charlotte's hotel market. The results also indicate that occupancy effects before or after most events are modest at best. Back‐of‐the‐envelope calculations show incremental hotel‐tax receipts fall short of the debt service incurred in constructing and maintaining the city's sports venues. ( JEL H71, Z23, Z28)