December 12, 2018
Expedia sees Google as a continuing threat
Expedia is beating the drum that Google is a serious threat to its business - if not an existential one.Read more
October 08, 2018
Simple in theory but complex in practice, price elasticity is the notion that consumers react to price in an individualised manner.
Rather than only external demand factors such as seasonality and event, price elasticity puts consumer behaviour at the centre of pricing decisions. In other words, consumer behaviour is not always rational; a lower room rate doesn’t always increase bookings.
While we’re not going to dive (too) deep into the economic theory, here’s a primer on price elasticity and how it should influence your hotel’s room rates.
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