The statistical analysis of entrepreneurial opportunities in the hotel sector

Abstract

Travelers’ accommodation preference refers to the behavior of individuals choosing particular conditions like convenience, home away from home, and space in determining the accommodation package to take. It is essential to do this research because it will be able to make people understand globalization and its effects like cultural diversity and the impacts it has on business operations in the hospitality sector. This is relevant in distinguishing business opportunities available. In order to successfully do the research data will be collected through questionnaires and analyzed.

Findings

This chapter is going to delve into qualitative and quantitative data analysis of the data collected through the questionnaires. The review will also depict and bring about the understanding of globalization and cultural diversity implication to the hotel sector. The statistical analysis will also bring an understanding of entrepreneurial opportunities in the hotel sector.

Response rate

The response rate of the study is 100%. This is observed from the data collected, where all participants involved answered all the questions. A 100% response rate is sufficient for the study and analysis because it is needed a minimum of 70% response to having a reliable review.

Part 1: Airbnb and traditional hotels;

Airbnb know-how

In questionnaires given to 100 people, a quantitative analysis is done on the knowledge of Airbnb. The question asked was a general question with a “yes” or “no” answer. It is sampled from the questionnaires that 98% of the people know something or have ever heard something about Airbnb.

An experience in Airbnb

The likelihood that some people have stayed in Airbnb is high. This is from the analysis of the general question if the respondents have ever spent a night in an Airbnb accommodation while traveling. Some people who had the knowledge about Airbnb happened to have used the services, a good number, while others did not. The people who lacked the knowledge about Airbnb, it happened that all of them did not use the services. 86.1% of the respondents happened to have used Airbnb services during their traveling, while 13.9 did not use the services.

In another general question, whether the respondents had used hotel services while traveling, it turned out that a huge number of respondents have used the hotel services. 96% of the respondents have used the hotel accommodation, and this included the respondents who did not know about Airbnb, while 4% have not used hotel accommodation.

Expenditure on accommodation

In many instances, spending is associated with your income. The expenditure must be within income budget or credit card limits. One may wish to spend as much for high-end luxury depending on the financial abilities. Given a range of expenditure with a minimum of below $400 to a maximum of above $1000 per night, the respondents had different views. In the bracket of below $400, there were 3% of the respondents, 401-600; there were 27.7% of the respondents, 601-800 there were 33.7% , from 801-100 there were 29.7%, and above $1000 there were 5.9% of the respondents.

Future choice of accommodation

Trip purpose and number of trip partners

Location and convenience

 

Factors to consider ranking

Safety and comfort concerns

Cleanliness and check out procedure.

Aesthetic design and local interactions

Part 2: Personal information;

Age and Gender

The respondents who participated in this research personal data were collected analyzed to be used in the understanding of entrepreneurial opportunities in the dynamic globalized market. The respondents who participated in this exercise were all adults. The age is listed with age brackets, where the majority of the respondents were aged between 23-27 years. Many male respondents participated at a rate of 55.4%.

 

Education and income

In terms of educational accomplishment, the majority of the respondents had a diploma certificate and higher. Within the income bracted, the respondents were income was distributed, some earning below $5000 per month while others were earning above $20000 per month. Majority, 31.7%, earn between $15,000 to $20,000.

 

Check out procedure

When comparing the level of cleanliness, the majority believe hotels are cleaner than Airbnb. When it comes to accommodation procedures, the checkout procedure in a hotel is more relaxed than the checkout procedure in Airbnb.

In terms of design, traditional hotels are less appealing. Airbnb is attractive that can attract the respondent to stay. On a scale of 1-5 a greater percentage of the respondent will be attracted to stay by the amazing and appealing design in Airbnb.

 

Discussion

The questions are chosen on the research divided into two categories; part one and two. The two categories are seeking answers from different perspectives. The research questions are framed in a way that every question delivers and brings a different perspective on the research topic. Most of the questions asked are general questions where the answer is yes or no. The research has also employed the use of optional answers where the respondent could select the option favorably. The options could be a range of figures or a fixed answer. The two categories of questions the research uses bring out the diversity for the understanding of the dynamic hotels’ management and operation. The classes derive the cultural diversity views, which help assess the implication of organizations operating in the hospitality sector. The first category of questions is on Airbnb and traditional hotels. The second category is on the respondent’s personal information that includes age, monthly income, and gender.

In this section, the questions the respondents handled involved and rotated around Airbnb and traditional hotels. From the quantitative analysis of the questionnaire data, the majority of the respondents had the know-how of Airbnb. The number of respondents who had complete no knowledge about Airbnb was infinite. From the respondents who heard something about Airbnb, the majority of them had any experience of spending a night in an Airbnb accommodation while traveling. Some of the respondents, although they have travelled, they never had a background in Airbnb accommodation. A good number of respondents had experience in hotel accommodation. This includes the majority of the people who had spent a night in an Airbnb accommodation. The respondents who had heard and had no knowledge about Airbnb, all of them had an experience with hotel accommodation while traveling. This implies that the lack of knowledge about Airbnb accommodation might be the factor of the adoption of hotel accommodation during traveling. From the analysis of data, all the people who traveled have either used Airbnb accommodation or hotel accommodation. The choice on which type of accommodation the respondent would use from the analysis of the data is dependent on the know-how of the presence of a facility.

The expenditure of an individual is dependent on a number of factors. The rational human nature on expenditure varies with personality; there are people who are meanwhile others are spendthrift. From the data collected in the questionnaire, the respondents spend differently. Given the nature of the question, which was an answer question, which game a range of expenditure, very few respondents wanted or opted for the lowest budget for accommodation per night during traveling. The majority of the respondents opted to spend between $400 to $1000 per night. On the range above $1000 attracted a tiny percentage of respondents.

On the preference between Airbnb and hotel accommodation, the question asked is an open question where the respondent could give an answer that is not quantitative. About 72.9 % of the respondents have experience with Airbnb. The rest have had no experience completely. No respondent to the best they can remember has exclusively chosen Airbnb. All the respondents who have been accommodated with Airbnb have had experience with hotel accommodation when traveling. All the respondents, on the other hand, have had experience with hotel accommodation while traveling. The number of days spent in hotel accommodation and Airbnb for those who have used both accommodations vary. Some have used Airbnb more days as compared to the days they have spent in hotel accommodation, and the vise versa is true. The number of times people have spent in hotel accommodation when traveling is much higher as compared to Airbnb accommodation.

Depending on the purpose of traveling, the number of people traveling varies. The number of people who travelled is also closely determined the type of accommodation one would opt for. From the analysis, many people traveled alone in their past trip. The graph keeps dropping with an increase of people the respondents are travelling with.

The purpose of a trip determined the type of accommodation one would choose. From the data analyzed from the questionnaires, 53.3% of the respondents travelled for leisure while the rest travelled for family vacation, business, and visiting friends and relatives. All the respondents who travelled for the business purpose, they were all accommodated in hotels. Majority of the respondents who travelled to visit friends and relatives were accommodated in Airbnb. The respondents who travelled for leisure and family vacation, some were accommodated in Airbnb while others were accommodated in hotels. Majority of the respondents were accommodated in a hotel during their last travelling. The nature of accommodation is majorly based by nature of the trip, business trips respondents exclusively stayed in hotels while majority of leisure and family vacation stayed in Airbnb.

When choosing an accommodation, there are many factors to consider. Depending on the nature of the trip, an individual may rank the priorities to consider when choosing an accommodation. The respondents were also requested to rank listed their priorities staring with the most valuable to list valuable. From analysis convenience was the most valued consideration taken with the majority. Another consideration that the respondent considered is the cost. Thirdly the space offered was also a priority to be considered. Other aspects like security, services, amenities were priorities, high to other but not a majority.

When comparing the nature and attitude or believe people have towards hotels and Airbnb, the research focused on a number of issues including safety, cleanliness, and comfort offered by the two amenities. The questionnaire has a slightly biased question to Airbnb. In considering the safety offered by Airbnb and hotels, majority of the respondents believed hotels are more secure than Airbnb. In a ranking of 5 where 1 is poor security and 5 is tight security, 83.92% believed that hotels are more secure in a rank of above 3-4. 15% of the respondents believed hotels are very secure with a ranking of 5. When it comes to comfort using the same ranking as security where 1 is very low comfort standards and 5 very high comfort standards, many of the respondents believed that hotels are more comfortable than Airbnb. Majority of the respondents ranked hotels with above the 3rd ranking with 76%. 14.9% of the respondents believe hotels are perfect.

In choosing accommodation, the respondents would like to interact with the locals to a certain degree. Some of the respondents would like to have more interaction with the locals while majority would want from average interaction to minimal interactions. Although no respondent would want no interaction. In terms of location and convenience, majority of the respondents had to be considerate. When it comes to practicality the respondents are average.

Determining the future experiences in travelling, past experience plays a role. 41.6% of the respondents believe averagely that there past experience will determine the future selections of accommodation. 19.8 % opted to choose Airbnb when traveling with more than partner no matter the partners involved. While other considering their past experience, some consider issues like convenience, space, safety, and cheapness.

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