عنوان انگلیسی مقاله:
How do hotels adapt their pricing strategies to macroeconomic factors?
ترجمه فارسی عنوان مقاله:
چگونه هتل ها استراتژی های قیمت گذاری خود را با عوامل اقتصاد کلان تطبیق می دهند؟
Sciencedirect - Elsevier - International Journal of Hospitality Management, 88 (2020) 102522: doi:10:1016/j:ijhm:2020:102522
The hospitality industry is naturally highly sensitive to subtle changes in the external environment, and its performance is aﬀected by various external factors. Therefore, hoteliers should carefully monitor the various macroeconomic indicators aﬀecting the market, when making important strategic management decisions. In particular, hotels’ pricing decisions are important because they play a crucial role in the determination of hotel revenue and in the process of proﬁt maximization. In this paper we classify hotels by business model (i.e., chain management, franchise and independent) and analyze how these diﬀerent types of hotels in Switzerland adapt their pricing strategies to macroeconomic factors (i.e., exchange rate, room supply and market demand). We ﬁnd that hotels adopting diﬀerent business models react diﬀerently to the same macro shock. Implications of our ﬁndings and future research directions are discussed.
Keywords: Room supply | Pricing strategy | Exchange rate | Macro-economic factor | Market demand