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The purpose of this paper is to assess the duration of the UK commercial property cycles, their volatility and persistence to gauge future market direction.

The study employs a novel approach to dissect cycles in a form of a three-step algorithm. First, the Hodrick-Prescott de-trends the selected variables. Second, volatility (measured by the variance) screens periods of atypical fluctuations in the series. Finally, the series is regressed against its past values to assess the level of persistence. The sequential steps screen the length of the cycles in UK commercial property market to facilitate interpretation.

The estimates suggest that UK commercial property market follows an eight-year cycle. Combined modelling results indicate that the current market trend is likely to change over the coming year. The modelling suggests increasing probability of a market correction in late 2016/early 2017.

This updated appreciation of the UK commercial property cycle duration allows for better market timing and investment decision making.

The paper adds additional evidence on the contested issue of UK commercial property cycle duration.

The aim of this paper is to summarize the celebrity endorsement literature to identify trends and challenges related to key research areas. Based on a critical review of existing literature, this paper presents several recommendations regarding potential future directions of celebrity endorsement research in hospitality and tourism.

The paper presents a critical review of literature from both the general marketing and hospitality and tourism fields.

Over the past decade, significant progress has been made in hospitality and tourism celebrity endorsement research, with several new constructs being revealed and tested. However, the extant findings are rather mixed and inconclusive because industry features have not been systematically examined and study contexts and samples have varied widely. To advance the hospitality and tourism celebrity endorsement research, an extended meaning transfer model with six propositions is proposed. Several areas for future research are also discussed.

This paper offers up-to-date findings on celebrity endorsement to practitioners, and the proposed extended meaning transfer model can provide marketers useful guidelines on selecting appropriate endorsers for their products/brands.

In previous studies, scholars mainly used one or more of the three types of celebrity endorser selection models and only examined specific antecedents of effective endorsement. To date, researchers have not yet conceptualized a modified model that captures the unique features of the hospitality and tourism industry and reconciles the mixed findings in the extant literature. This paper proposes an extended meaning transfer model to explain the endorser selection process, provides a good foundational understanding of the extant celebrity endorsement research and makes several recommendations regarding future research directions for hospitality and tourism scholars with implications for practitioners.