What is it about?
We examine the pricing objectives, strategy determinants, and strategies employed by hotels while taking managerial concerns into account.
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Why is it important?
The study determines managers’ key pricing concerns and investigates value-informed pricing strategies and making comparisons. The study indicates similarities and differences in price determination factors in the hotel industry.
Perspectives
A significant finding is that upscale hotels place high importance on pricing due to intense competition related to their wider product portfolio in comparison to luxury and mid-scale hotels and tend to rely on competition-based pricing. Although exploratory in nature, the results are valuable and provide compelling.
Dr. Muhammet Kesgin
Rochester Institute of Technology
Read the Original
This page is a summary of: Pricing determinants in hotels: The case of luxury, upscale, and mid-scale price segments, Journal of Revenue and Pricing Management, November 2017, Springer Science + Business Media,
DOI: 10.1057/s41272-017-0133-x.
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Resources
Competition patterns, spatial and advance booking effects in the accommodation market online
Hoteliers plan price trajectories reflecting the customers' attitude towards internal or external reference price. Hotels are more competitive in the last minute, while price history drives pricing decision at higher advance booking.
Building the Newest Generation of Yield and Pricing Tools in the Hotel Industry
Hospitality.net industry update by Remko West, COO & co-founder at Xotels
Special issue: Luxury and Premium Pricing
Journal of Revenue and Pricing Management Volume 17, Issue 4, August 2018 Special issue: Luxury and Premium Pricing ISSN: 1476-6930 (Print) 1477-657X (Online)
Contributors
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