اعمال ارزش برند مبتنی بر مصرف کننده در نام تجاری هتل لوکس  Applying consumer-based brand equity in luxury hotel branding

1. Introduction Branding is an effective tool for companies to identify and differentiate products or services in consumers’ minds. Branding is a marketing strategy widely used to improve firm performance (Hsu, Oh, & Assaf, 2011; Liu et al., 2012; Mizik, 2014). The literature highlights building a strong brand as the primary goal of business (Aaker, 1996; Keller, 2008; O’Cass & Weerawardena, 2010). However, limited research exists on branding of luxury hotels, creating a gap in the literature. This study fills this gap by explaining how brand equity, attitude, and performance affect hotel guest loyalty intention. The hospitality industry generally accepts hotel star ratings designated by Forbes (formerly, Mobil) Travel Guide, American Automobile Association (AAA), and other organizations (Verma, 2010; Sherman, 2007). The perception exists that a hotel awarded the Forbes Five Star award and/or AAA Five Diamond is a luxury hotel, and four-star and five-star hotels generally describe themselves as luxury hotels. The luxury hotel industry is a crucial and rapidly expanding segment of the hospitality industry. The Smith Travel Research (STR) report shows that the US luxury segment had the highest occupancy rate (72.3%) in the fourth quarter of 2014 (STR, 2015). The hotel industry’s growth is salient in Asia. For example, Marriott has 535 hotel properties open in the Asia-Pacific region and 475 in development (Marriott, 2016). The substantial growth of the luxury hotel segment draws considerable attention from researchers regarding the phenomenon of luxury consumption. Studies focus on emotional attachment (Hyun & Kim, 2014), guest loyalty (Yang & Lau, 2016), and status seeking (Yang & Mattila, 2013; Yang & Mattila, 2014). With marketing research shifting focus from one-time transactions to long-term relationship development between companies and consumers, the notion of consumer-based brand equity (CBBE) increasingly captivates managers and academics (Huang & Cai, 2015; Kim & Kim, 2005; Stahl, Heitmann, Lehmann, & Neslin, 2012). Efforts to value brands and identify drivers of brand preference have prompted much empirical research (Chaudhuri & Holbrook, 2001; Liu, Wong, Shi, Chu, & Brock, 2014; O’Cass & Weerawardena, 2010). However, research gaps exist. First, the current understanding of CBBE effects on service brands remains limited (Huang & Cai, 2015). Evidence suggests that brand equity substantially affects consumers’ brand choice intentions (Lu, Gursoy, & Lu, 2015), brand reputation (Han, Nguyen, & Lee, 2015), and the mediating role of brand reputation on brand trust (Han et al., 2015). Nevertheless, such observations are limited to restaurants and are not applicable to  luxury hotel industry. Although Liu, Wu, Yeh, and Chen (2015) examine hotel brand equity, they do not discuss the effects of brand equity on consumer brand attitude and purchase intention. Hsu et al. (2011) develop a CBBE model for upscale hotels. However, the development of the model occurred before the strong growth of luxury travel market since 2011 and the emergence of distribution channels such as discount and flash sale websites (Market Publishers, 2013). Price promotions through discount websites negatively impact consumers who are in high need of status (Yang, Zhang, & Mattila, 2016). Therefore, a requirement exists for an updated CBBE model. Second, studies focus on conceptualization, assessment, and measurement of equity, and related causes and consequences in ordinary products and services. The underlying purchase decision process regarding CBBE elements in the context of luxury hospitality services remains to be addressed. Third, brand equity is of great financial importance and is discussed frequently in top marketing journals (Mizik, 2014; Simonin & Ruth, 1998; Stahl et al., 2012). Mizik (2014) reveals that brand equity positively affects firms’ current financial performance, and has a greater impact on firms’ future financial performance. Studies examine the mechanism of effects of brand equity on firms’ performance; Stahl et al. (2012) reveal that CBBE is related to consumer acquisition and retention, which contribute to firm profits. Others find that consumers’ brand attitudes significantly influence a brand’s evaluation and purchase intention (O’Cass & Weerawardena, 2010; Park, MacInnis, Priester, Eisingerich, & Iacobucci, 2010; Sattler, Völckner, Riediger, & Ringle, 2010). The relationship between brand equity, band attitude, and purchase intention requires further investigation. Brand performance might influence brand preference, which is a direct predictor of purchase intention (Chang & Liu, 2009; Liu et al., 2014). Although relationships among brand equity, brand attitude, brand performance, and purchase intention have been examined (Huang & Cai, 2015; Park et al., 2010), results are equivocal (Chang & Liu, 2009; Chaudhuri & Holbrook, 2001; Horng, Liu, Chiu, & Tsai, 2012). This study proposes an integrated model to further conceptualize the underlying mechanism of brand equity, brand attitude, brand performance, and purchase intention, which can aid marketers in understanding the impact of brand equity in a service setting (Helm & Özergin, 2015). This study focuses on analyzing and understanding direct effects of CBBE elements of luxury hotel brands on consumers’ (1) brand attitude and (2) purchase intention, (3) the mediating effects of brand attitude between CBBE elements of luxury hotel brands and purchase intention, and (4) the moderating effects of brand performance of luxury hotel brands between brand attitude and purchase intention. This study tests proposed relationships using a survey of 327 customers from luxury hotels in Macau, providing the following contributions.