Business, Management and Accounting
3 years ago

Revolutionizing hotel pricing: Personalized rates for every guest experience.

International Journal of Hospitality Management
The wheel of dynamic pricing: Towards open pricing and one to one pricing in hotel revenue management
Pilar Talón Ballestero, Marta Nieto‐García, Lydia González Serrano

Paper Summary

Dynamic pricing in hotel revenue management is evolving towards personalized pricing for individual customers. Recent advancements in big data technology have enabled more sophisticated pricing strategies. The study examines how dynamic pricing is currently used in hotels, revealing the emergence of concepts like "open pricing" and the shift towards customer-centric pricing. This research provides practical insights for industry professionals and sets the stage for future research on pricing in hotel revenue management.

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