Value-based pricing requires determining what your customers truly value. This can include a high willingness to pay for products and features important for a particular stay, the lowest rate for price-sensitive guests, and everything in between. In this course, we introduce a framework for reviewing and setting accommodation pricing, including:
- Understand the value proposition and rate tactics of your key competitors
- Develop a competitive advantage based on the analysis findings and repositioning a hotel by offering better value for consumers.
- A template spreadsheet is provided to facilitate pricing research and decision-making
This course forms part of a program to earn a Certificate in Digital Marketing (Hospitality) or a Certificate in Business Acumen (Hospitality). You can either study the full Certificate program or just take individual courses to update your skills.