hotel pricing strategies

Hotel pricing strategies involve adjusting room rates based on supply and demand, competition, and customer willingness to pay. During peak seasons or events, prices often increase to maximize revenue. Conversely, less busy times see discounts to attract guests. Hotels may also implement dynamic pricing, changing rates in real-time based on booking patterns. Additionally, they offer different rates for various customer segments, like corporate vs. leisure travelers, and may use packages or minimum stays to optimize occupancy and profitability. Overall, these strategies aim to balance attracting guests with maximizing revenue.