Table 1 presents the taxonomy for the available data, specifying whether each variable has a strategic and/or tactical dimension. Moreover, the table shows the descriptive statistics of the variables, including in particular details concerning the cross-section variability(between hotel) as well as the time variability (within-hotel). The distinction between cross-section and time variability stands at the core of our empirical strategy. The double nature of pricing decision, i.e. strategic and tactical, has long been recognized by the marketing literature (Rao, 1984). Empirically, the hedonic literature has provided insights mainly for long-term pricing strategy (Chen & Rothschild, 2010; Thrane, 2007), though falling short in explaining dynamic pricing decisions in the short-run. The peculiarity of this study, as explained also in the theoretical framework, lies in the attempt of capturing the dynamic dimension of attributes that are traditionally considered, in the hedonic pricing literature, in their static dimension. For this reason, cross-sectional price variability, which mostly reflects long-term structural choices of different hotels, is interpreted as the strategic dimension of pricing decisions. Conversely, within-hotel price variability depends on the way hotels adjust their prices in the
short-run, and is interpreted as the tactical price dimension.