Table 3 Surpluses that consumers and hoteliers get in the transaction process.

Total sample

 Hoteliers \(\hat E(1 - e^{ - w}|\varepsilon )\)

30.31

18.76

15.75

23.48

40.52

 Consumer \(\hat E(1 - e^{ - u}|\varepsilon )\)

14.51

6.31

10.92

11.94

15.15

 Difference (Net Surplus)

15.81

22.64

0.59

11.54

29.60

Non-COVID-19

 Hoteliers \(\hat E(1 - e^{ - w}|\varepsilon )\)

31.43

18.92

16.11

24.36

43.64

 Consumers \(\hat E(1 - e^{ - u}|\varepsilon )\)

13.90

4.94

10.90

11.80

14.84

 Difference (Net Surplus)

17.52

22.07

1.27

12.56

32.75

COVID-19

 Hoteliers \(\hat E(1 - e^{ - w}|\varepsilon )\)

29.69

18.64

15.40

22.84

38.95

 Consumers \(\hat E(1 - e^{ - u}|\varepsilon )\)

14.85

6.94

10.94

12.06

15.49

 Difference (Net Surplus)

14.84

22.91

−0.08

10.78

28.01