Hotel Pricing

Ben Vinod ()

Chapter 3 in Revenue Management in the Lodging Industry, 2022, pp 81-104 from Springer

Abstract: Abstract Pricing a hotel product with its associated complexities is reviewed in detail. The origins of hotel pricing begin with methodologies proposed by Roy Hubbart and Louis Toth. The fully allocated cost of an occupied room and direct variable costs are building blocks to determine hotel rates. Various types of hotel pricing approaches are reviewed. Core concepts of hotel rates and the price-demand curve are discussed followed with a review of the various types of hotel rates for various customer segments. A model for pricing decision support under competition is proposed, and the chapter concludes with a discussion on dynamic pricing and psychological pricing.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-031-14302-1_3

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DOI: 10.1007/978-3-031-14302-1_3

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