Purpose

This paper aims to model the price of cellar tours using a hedonic pricing approach. The authors analyze the complex relationship between the price of an add-on (here, cellar tours) and the price of the reference product (here, wine).

Design/methodology/approach

Thanks to a large database containing information on about 1,000 winery experiences, the authors regress the price of cellar tours on wine prices and on a broad set of objective characteristics that are (1) tour specific and (2) common to all tours offered by the winery. These exogenous controls include the type and style of experience offered, amenities and winemaking characteristics.

Findings

The authors show that the price of cellar tours follows the price of the most expensive wine sold by the winery, which is a proxy for reputation. The authors find that one of the main determinants of cellar tour prices is visit length: wineries charge more for longer experiences. The number of wines tasted during the visit also increases the price. Prices are higher in places where there is a high level of wine tourism activity, which might be a sign of authenticity.

Practical implications

Wine producers in different countries need to gain insights on how to price cellar tours, which are composite goods. The results can help practitioners price their winery experience according to common practices in different wine regions. The results may also be of interest to professionals in the tourism sector who are in charge of the pricing of by-products (e.g. tee-shirts, books, etc.), or for luxury fashion labels extending their brand in the catering industry with cafes and restaurants.

Originality/value

To the best of the authors’ knowledge, this paper is the first empirical analysis that examines the complex relationship between the price of an add-on and the price of the reference product in the context of wine tourism.

中文翻译：

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酒庄如何为其葡萄酒体验定价？

目的

本文旨在使用享乐定价方法对酒窖游览的价格进行建模。作者分析了附加产品（此处为酒窖之旅）的价格与参考产品（此处为葡萄酒）价格之间的复杂关系。

设计/方法论/途径

得益于包含约 1,000 个酒庄体验信息的大型数据库，作者将酒窖之旅的价格与葡萄酒价格和一系列广泛的客观特征进行了回归，这些客观特征是 (1) 特定于旅行团的；(2) 酒窖之旅所提供的所有旅行团所共有的。酒厂。这些外源控制包括所提供体验的类型和风格、便利设施和酿酒特征。

发现

作者表明，酒窖之旅的价格遵循该酒庄出售的最昂贵葡萄酒的价格，这是声誉的代表。作者发现，酒窖之旅价格的主要决定因素之一是参观时间长短：酒庄对体验时间较长的收费更高。参观期间品尝的葡萄酒数量也会增加价格。葡萄酒旅游活动频繁的地方价格较高，这可能是正宗葡萄酒的标志。

实际影响

不同国家的葡萄酒生产商需要深入了解如何为酒窖之旅（属于复合商品）定价。研究结果可以帮助从业者根据不同葡萄酒产区的常见做法对他们的酒庄体验进行定价。研究结果也可能引起旅游业中负责副产品（例如 T 恤、书籍等）定价的专业人士的兴趣，或者引起通过咖啡馆在餐饮业扩展其品牌的奢侈时尚品牌的兴趣。和餐馆。

原创性/价值

据作者所知，本文是第一篇实证分析，探讨了葡萄酒旅游背景下附加产品价格与参考产品价格之间的复杂关系。