Pricing policy in general but specifically in tourism industry, where the competition is high, is a process of primary importance in order to achieve the goals of an accommodation affecting directly its position in the market, its relationship with potential guests, its dynamic in comparison to the competition as well as its profit.
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It is understood therefore how important is the process and the setting of a successful pricing policy, the close monitoring, and the immediate adaptation to changes if required. The potential guests, before they make the request and they proceed with the reservation, they conduct detailed research on the properties and on their prices, so that they can make the best choice. The relevance between the price and the offered services acts decisively for the completion of the reservation.
Consequently, the pricing policy, as simple as it may seem, as it is practically the cost for the night, is a complex process on which relies the vitality and efficiency of the property every year. It is very useful if there is a plan and goals on a yearly basis. The optimum combination of price and offered services will come through constant watch of the market and competition, adaptations of the price if required, and promotional offers.
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