استراتژی های قیمت گذاری برای به حداکثر رساندن درآمد در صنعت مسکن
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|22571||2006||17 صفحه PDF||سفارش دهید||محاسبه نشده|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : International Journal of Hospitality Management, Volume 25, Issue 1, March 2006, Pages 91–107
Price-ending strategies may be utilized by hotels to signal value or quality. The current study presents that there is a directional relationship between room rates and price-ending strategies. It demonstrates that as average room rates decrease, the price-ending strategies change from whole dollar practice to dollar and cents practice. Results from the qualitative investigation were compared with the room rates from the Internet for 10 US cities. Based on this study, an innovative pricing strategy is presented with a potential gain of $251 million dollars by conservative estimations (nearly $555 million if estimated liberally) annually for the hotel industry in the USA. These potential sales are about 0.54% of revenues and 3.9% of industry-wide pre-tax profits. Further studies in consumer acceptance of the recommended pricing strategy are suggested.
The purpose of this inquiry is to examine pricing strategies in the hotel industry so as to maximize revenues. A hotel may attempt to achieve a number of objectives when pricing their guestrooms. These objectives may include the following: optimize/maximize profitability; maximize revenues; differentiate the product in the marketplace; increase or decrease the pace at which rooms are being sold; increase market-share of a specific brand; achieve a targeted contribution margin per room sold; and communicate price–value relationship of the product to the consumer. Whatever be the motivation, the price at which a hotel attempts to sell their guestrooms will undoubtedly send a message to the consumer. Current research focuses upon two price-ending strategies, commonly utilized in retail settings, to determine if they are utilized in the hotel industry. In the retail industry, these strategies are utilized to send messages about the inherent quality and value attributes of the products. Previous research indicates that price endings may be utilized to send specific signals to consumers regarding the value or quality of a product. Through an analysis of hotel pricing on the Internet, coupled with qualitative interviews with hotel operators, this inquiry attempts to determine whether a relationship might exist between the message that hotel operators intend to communicate with consumers utilizing price and the price-ending strategies they adopt. Specifically, the factors that are considered by hotels in setting room rates are explored as well as how these factors impact the price-ending strategies utilized and whether the hotels consider the impact of these price-ending strategies on consumer perceptions. Finally, a price-ending strategy is proposed that can contribute significantly to the profitability of the hotel industry.
نتیجه گیری انگلیسی
Price-ending strategies may be utilized by hotels to signal value or quality. Although this study provides a clear indication regarding the intentions of hotels relative to price-ending strategies, how consumers actually interpret these different strategies has not been determined by this study. As a result, a follow-up study is planned to explore how these strategies are interpreted by the consumer. For example, consumers undoubtedly obtain quality cues from variables other than the price endings, such as brand affiliation and relative pricing levels. Consequently, it may be beneficial to utilize a “0.99” or “0.95” consistently since it has been demonstrated that the implementation of such a price-ending strategy can significantly impact the profitability of a hotel, and potentially the industry as a whole. The majority of hotels (74.3%) are currently utilizing a whole-dollar pricing strategy with a “9” ending to communicate value. A move to a dollar followed by cents strategy that also communicates value is not a significant departure from the present strategy prevalent in the industry, yet the potential rewards by such a shift are great. For hotels currently utilizing a whole-dollar, round pricing strategy ending in “0” or “5” to communicate quality, this change in price-ending strategy could add $4.95 or $9.95 to published rates as rates are increased to end with a “9.95”, greatly multiplying the benefits of an “odd-pricing” strategy for these hotels. In more conservative terms, if all properties in the USA add $0.95 to all published non-qualified rates, it will result in nearly $251 million in potential industry-wide profit which is 0.25% of revenues and 1.76% of pre-tax profits. But if estimated in more liberal terms, the potential gains in revenues and pre-tax profits could be about $555 million which is 0.54% of industry-wide revenues and 3.90% of pre-tax profits. Negative impact of such a practice is negligible as demonstrated by one hotel company managing full-service, high-end properties using this strategy. This odd-pricing strategy has resulted in about $2,450,000 EBITDA annually for this company. Until more empirical research is conducted, the debate relative to price-ending strategies and their effectiveness will continue. Further consumer studies with price-ending strategies are highly recommended.