A Guide to Peak, Middle-Season, and Off-Peak Pricing Strategies for Hotels
The hotel industry is characterized by continuous change and intense competition, making it imperative for hoteliers to develop a deep understanding of market dynamics and customer preferences. A well-defined pricing strategy is vital for the success of any hotel...
What Is Hotel Rate Parity and Why It Is Important
In today’s highly competitive hospitality industry, hoteliers must be strategic about their pricing to attract guests and generate revenue. One crucial concept that hotel owners and revenue managers should understand is rate parity. This article will delve into...
Price Elasticity in the Hotel Industry: Affecting Factors and Tools for Forecasting and Management
Introduction to price elasticity in the hotel industry Price elasticity is an essential KPI for any business, and the hotel industry is no exception. It measures the responsiveness of demand for a product or service to changes in its price. In other words, it helps...
