October 19, 2018
Experience is key for the hotels of the future
There has been much talk in the hotel industry about creating a “narrative” experience in hotels.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.
Get the full story at OTA Insight
Visit our sponsors: