Dynamic pricing helps hotels stay profitable and competitive in a rapidly changing market. There are three main reasons why every hotel should use dynamic pricing. It helps hotelt to: In today’s fast-paced hospitality industry, setting the right room price is no longer a once-a-day task. Guests book at all hours, events change demand patterns overnight, […]
Pricing is not just about numbers; it is about perception, emotions, and behavior. Research in behavioral economics and psychology shows that consumers' purchasing decisions are influenced by various psychological factors, making pricing strategies a crucial part of business strategy. In the hospitality industry, where experience is a significant part of the value, psychological pricing strategies […]
Traditional market segments, based on factors such as purpose of travel or demographics, are only part of the puzzle when it comes to understanding your guests' needs. In today’s competitive landscape, where guest expectations are rapidly evolving, hotels must think outside the box. Behavioral segmentation—focusing on how guests act rather than who they are—can be […]
