What are the different pricing models for hotel rooms?
Can dynamic pricing solve the problem of Room pricing in hotels?
- This paper addresses the problem of room pricing in hotels. We propose a hotel revenue management model based on dynamic pricing to provide hotel managers with a flexible and efficient decision support tool for room revenue maximization.
How is the rate calculated for the hotel?
- The rate is calculated based on the number of people being accommodated in the room. As the base rate, it’s taken as either a single or a double room. The rate is dependendent upon this. This Room Only and BB pricing is calculated based both on the number of people as well as breakfast.
How to come up with a competitor-based hotel room rate pricing strategy?
- You will be able to come up with a competitor-based hotel room rate pricing strategy only when you understand the rates your competitors are selling their rooms at. When we talk about competition, consider hotels that come in your segment and star category.
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