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136. Unravelling the Role of Perceived Value Dimensions in Shaping Millennials' Revisit Intentions: An Empirical Analysis of Homestays in the State of Uttarakhand, India

Invited abstract in session WB-8: Applications of Knowledge and Technology, stream Knowledge, Technology, and Innovation.

Wednesday, 10:30-12:00
Room: 1020 (building: 202)

Authors (first author is the speaker)

1. SANTANU ROY
ICFAI BUSINESS SCHOOL (IBS) DEHRADUN, THE ICFAI UNIVERSITY
2. AMIT TARIYAL
SCHOOL OF HOSPITALITY MANAGEMENT, IMS UNISON UNIVERSITY
3. ABHAY CHAMOLI
SCHOOL OF HOSPITALITY MANAGEMENT, IMS UNISON UNIVERSITY

Abstract

A multitude of studies within the domain of tourism and hospitality sector have delved into the influence of perceived value on diverse aspects of consumer behaviour. Perceived value is regarded as a crucial element in comprehending a customers' tangible actions. The present study encompasses functional value, FV, social value, SV, and emotional value, EV, as the three distinct dimensions contributing to perceived value and explores their impact on millennial tourist satisfaction, MTS, and their revisit intention, MTRI, in the context of homestay experience in the Indian Hill State of Uttarakhand. Responses from 329 millennial tourist respondents were analysed. The results of multiple regression analysis reveal that an amalgamation of FV, SV and EV effectively explains 71.2% of the observed variability in MTS. Additionally, the calculated Durbin-Watson statistic is 1.913 indicating the absence of autocorrelation within the residuals, reinforcing the model's reliability. Digressing further, it is observed that FV and EV significantly impact MTS (p < 0.001; β = 0.451 p = 0.002; β = 0.157, respectively), but the same effect is not observed in the case of SV (p = 0.347; β = 0.057). Further, MTS is found to significantly impact MTRI (p < 0.001; β = 0.868). Homestays occupy a substantial section of the hospitality industry in this hill state. The findings have important implications for designing a strategy for augmenting millennial tourist revisit in the present context.

Keywords

Status: accepted

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