Pricing includes cost calculations (i.e. bottom price calculation), contract administration, variety of offers, up-to-date observation of competitors, and a logical pricing structure. The price is the equivalent of your services. Prices at your hotel should be set up in a way that they are transparent and logical for customers as well as for employees, making the price-performance ratio clear and comprehensible.
“Dynamic Pricing” - it's the trend that is gaining popularity in city and leisure hotel management. Price dynamics evolve through fluctuations in demand. If demand increases, usually prices do too - in our case, it’s the price per night. Furthermore, your customers react to product design the same way as to the location of the hotel, the quality of the service, the promise to deliver, and to general standards when making their choice for a hotel and the pricing and service structure on offer. This and hotel reviews combined help customers define how much they are willing to pay for their stay. It is this framework that the pricing structure of a hotel has to reflect... It is essential for your pricing. Elaborate pricing in your hotel, as well as performance and services, is the foundation of your success. Only on this foundation will you be able to develop a pricing strategy.