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| Author: | Enz, C.A. Canina, L. Lomanno, M. |
| Title: | Competitive pricing decisions in uncertain times |
| Journal: | Cornell hospitality quarterly: hospitality leadership through learning
2009 : AUG, VOL. 50:3, p. 325-341 |
| Index terms: | hotel management strategy pricing decision making demand markets macroeconomics USA |
| Language: | eng |
| Abstract: | This article explores the pricing, demand (occupancy), and revenue dynamics in the U.S. hotel industry from 2001 to 2007. Comparing hotels' rates to the pricing behaviour of competing hotels, it is found that in both bad times, from 2001 to 2003, and good times, from 2004 to 2007, hotels offering average daily rates above those of their direct competitors had lower comparative occupancies but higher relative revenue per available rooms (RevPAR). Based on over 67,000 hotel observations, this pattern of demand and revenue behaviour was consistent for hotels in all market segments. In general, it is suggested that the best way for a hotel to have higher revenue performance compared to its competitors is to maintain higher rates etc. |
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