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Pricing strategies in the revenue management system of hotel enterprises

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  • Melnyk, Iryna
  • Barna, Marta

Abstract

Subject and purpose of work: Substantiation of the principles of formation of the pricing policy of hotel enterprises while considering the segmentation of the client base, existing patterns and pricing strategies according to revenue management system. Materials and methods: The material of the article is based on the study of theoretical and practical aspects of the pricing strategy in the system of management of hotel enterprises. Scientific articles and practical recommendations of revenue managers were used, on the basis of which the principles of pricing hotel services were summarized, depending on the preferences and requirements of various consumer segments. Results: It has been established that when using certain strategies, it is necessary to systematize how and when hotel services are booked by representatives of the main market segments, as well as to correctly assess the elasticity of their demand. Conclusions: : Revenue management from the sale of hotel services involves the use of flexible prices for the same type of revenue, the value of prices are determined depending on the period of sale of this product until the product becomes unusable. This premise implies the need to develop an appropriate tariff policy and define certain volumes of these services.

Suggested Citation

  • Melnyk, Iryna & Barna, Marta, 2022. "Pricing strategies in the revenue management system of hotel enterprises," Economic and Regional Studies (Studia Ekonomiczne i Regionalne), John Paul II University of Applied Sciences in Biala Podlaska, vol. 15(3), September.
    • Handle: RePEc:ags:plecrs:339253
    DOI: 10.22004/ag.econ.339253
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    References listed on IDEAS

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    1. Miguel Angel Ropero, 2011. "Dynamic Pricing Policies of Hotel Establishments in an Online Travel Agency," Tourism Economics, , vol. 17(5), pages 1087-1102, October.
    2. Fevzi Okumus, 2004. "Implementation of yield management practices in service organisations: empirical findings from a major hotel group," The Service Industries Journal, Taylor & Francis Journals, vol. 24(6), pages 65-89, November.
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