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We find that hotel mergers increase occupancy. In some specifications, price also rises. Because these effects occur only in markets with high capacity utilization and high uncertainty, we reject simple models of price or quantity competition in favor of models of "revenue management," where firms...

Kalnins, A.; Froeb, L.; Tschantz, S.
Wiley, Boston, USA
Rand Journal of Economics, 2017, 48, 1, pp 178-202