All for one and one for all: The spillover effect of sports on tourism market value

The literature on sports tourism shows the relationship between sports events and market value from different perspectives; however, the results of this study offer a new theoretical angle: the spillover effect of high-profile athletes on hotel market value. On the basis of the associative network memory theory, we argue that people create connections between athletes and the country where these athletes play, thereby enhancing the country’s brand awareness and recognition. The empirical analysis, focused on renowned soccer signings and their effects on hotel chains, shows an increase in market value attributed to the announcements of the signings of these acclaimed athletes, giving rise to a spillover effect. The main theoretical implication derived from the alluded new theoretical angle of the spillover effect of high-profile soccer players on hotel market value. • A spillover effect of high-profile sports athletes on hotel market value exists. • Market value increase is further amplified by lower costs associated with signings. • The number of Instagram followers have a positive effect on market value.