[Excerpt] In this article we explore the idea that the transaction price may be different for a given lodging property in the case of one buyer and seller pair relative to another. The findings reported here are from a statistical exploration that is made possible by a large database of lodging-property transactions that occurred throughout the United States during the late 1980s and early 1990s. We begin with a discussion of previous research on the influence of buyers and sellers on property prices, then we present the findings from our study and their implications.
Corgel, J. B., & deRoos, J. A. (1994). Buying high and selling low in the lodging-property market [Electronic version]. Cornell Hotel and Restaurant Administration Quarterly, 35(6), 33-38. Retrieved [insert date], from Cornell University, School of Hospitality Administration site: http://scholarship.sha.cornell.edu/articles/170/