Energy performance contracting is an energy saving investment mode which using saving cost of energy to pay the cost of energy saving project. The general evaluating methods are unable to evaluate objectively the managerial elastic and strategic value existing in projects while evaluating the energy saving projects, thus the real value of projects can't be reflected. In the light of this problem, the paper provides the evaluation principle of the energy performance contracting project which based on B-S model, by analyzing the uncertainty of the energy performance contracting project, at the same time, analyze the influence factors of option value in B-S model, and provides a new thinking and quantitative analyzing method for the investment evaluation of the energy performance contracting project under the uncertain environment.
Purpose
The purpose of this paper is to analyze the implicit prices of hotel attributes in different time periods and different markets.
Design/methodology/approach
With data from the travel meta-search engine, this paper chose 3- to 5-star hotels in Beijing’s central business district and use hedonic price models.
Findings
The results suggest that the attributes with significant implicit prices differ in different time periods; the same attributes with different implicit prices in different time periods; the same attributes with different implicit prices in different market segments.
Originality/value
This study may help to explain the different findings on the relationship between the attributes and room rates of Chinese star-rated hotels in different time periods, and will be useful in both revenue optimization efforts and the design of new hotels projects.
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