ABSTRACT

In accordance with the economic influences of an increase in minimum wage on labor markets, this study examines the effects of the federal-level minimum wage increase on U.S. hotel properties employing a difference-in-differences (DID) estimation method. We compared NYC which witnessed a federal minimum wage increase in 2009 to Washington, D.C which did not receive a wage increase in the same year. Findings showed that the newly enacted federal minimum wage law did not significantly influence U.S. hotel properties’ labor costs. This study, on the other hand, found that the federal minimum wage increase negatively affected hotel properties’ performance, measured by EBITDA and total revenue. This study adds value to the hospitality and tourism literature by rigorously revealing a causal effect of the minimum wage increase on hotel property performance. Further, this study's findings also provide meaningful guidance for hotel industry practitioners related to navigating minimum wage increases.

摘要

根据提高最低工资对劳动力市场的经济影响，本研究采用差异差 (DID) 估计方法检验了联邦最低工资提高对美国酒店物业的影响。我们将 2009 年联邦最低工资增长的纽约市与同年没有工资增长的华盛顿特区进行了比较。调查结果显示，新颁布的联邦最低工资法并未显着影响美国酒店物业的劳动力成本。另一方面，这项研究发现，联邦最低工资增长对酒店物业的业绩产生负面影响，以 EBITDA 和总收入衡量。这项研究通过严格揭示最低工资增长对酒店物业绩效的因果影响，为酒店和旅游文献增加了价值。此外，本研究的结果还为酒店业从业者提供了与驾驭最低工资增长相关的有意义的指导。