“…And in the hotel industry, some scholars study the different factors on the online sales format between the hotel and online travel agency, for example, hotels’ capacity (Liao et al., 2019), hotels’ competition (Ye et al., 2020), hotels’ bargaining power (Ye et al., 2019), and value‐added service and demand uncertainty (Zhang et al., 2021b). Other literature on online sales format choice have identified several important factors, such as spill‐over from online to offline sales (Abhishek et al., 2016), online reviews (Kwark et al., 2017), level of marketing efforts (Hagiu and Wright, 2015), order‐fulfilment costs and upstream competition intensity (Tian et al., 2018), order‐fulfilment costs and downstream competition intensity (Liu et al., 2020), add‐on pricing (Geng et al., 2018), asymmetric potential market sizes and upstream competition (Zennyo, 2020), asymmetric potential market sizes and e‐tailers’ channel roles (Wei et al., 2020a), manufacturers’ leader–follower relationship (Wei et al., 2020b), green products and downstream investment (Wang et al., 2020) and quality difference (Arda, 2020), manufacturer's emission reduction investment (Liu and Ke, 2020), demand disruption and cap‐and‐trade regulation (Xu et al., 2021a), and logistics service strategy (Qin et al., 2021). We summarize the differences between these studies and this work in Table 1.…”