TITLE

The case for Dynamic Pricing

AUTHOR(S)
Farahmand, Mehran; Chatterjee, Amitava
PUB. DATE
April 2008
SOURCE
Hospitality Upgrade;Spring2008, p154
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the significance of dynamic pricing to hotels in the U.S. The term refers to pricing on demand, based on customer value and demand for hotel room inventory. Such scheme is widely used in hotel businesses because all factors that affect the industry are dynamic ranging from room offerings, competition and customer perceptions of value. This is important to hotel companies because its inventory is sold at certain price points and guests are paying different price points. To make use of the scheme, one must first consider demand forecasting and pricing system and the successful formulation of dynamic pricing solution requires a keen interest and attention to the company's organizational needs.
ACCESSION #
31425443

 

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