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The key to success is for customers to be aware that they are paying more for the distinctive service ”. “Knowing when to keep rates stable and when to adjust them – concludes the study – must no longer depend on a good forecasting procedure, but on the set of data relating to customer sensitivity and rate changes for a specific hotel : an activity that every good revenue manager should be able to perform for their hotel.” From Cornell's analysis it clearly emerges that demand is not stimulated by the reduction of rates and that in conclusion the generalized and continuous reduction of rates is a loss for the entire hotel industry. To read the full study: Cornell University Share Did you like this article? Share this article Subscribe to the RSS Feed Add it to your favorites Read other users' comments Sign up to our newsletter Write your opinion Read similar/related articles Print this article Other items that may interest you: No related articles.
There are 16 comments on this article » Riccardo Cocco Comment by Venezuela Phone Number Riccardo Cocco — 9 April 2010, at 1.19 pm Who said that Revenue Management is: “lowering rates Good work and good Revenue Management to everyone!! Riccardo Cocco Thu.Car Comment from gio.car — 9 April 2010, at 3.23pm I share the difficulty and being able to differentiate yourself. DIFFERENTIATE YOURSELF AND YOU WILL WIN!!! ps and human resources come FIRST... (watch out for easy outsourcing!!!) GabUd Comment from GabUd — April 10, 2010, at 08:01 Well…this study brings real numbers to what I have been thinking for a long time. Shamelessly lowering rates DOES NOT increase Revpar! I hope someone finally starts to think about it...Revenue Management and hotel management in general is made up of a billion things, all different but all synchronized with each other...just lowering the price doesn't lead to anything...especially if you lower it of the tariff is followed by a reduction in the quality of the service provided... greetings to everyone Gabriele Apostoli maxgamb Comment by maxgamb — April 13, 2010, at 07:31 Hello everyone, this is my first time writing even though I have been following you with interest for years.
It would be interesting if Prof Franco Grasso could comment on the data from Cornell University or if he could provide us with other studies of the opposite sign Thanks Massimo palingenius Comment from palingenius — April 14, 2010, at 6.37 pm For me, as usual, we are faced with the usual mystifications: firstly because the average hotel, at least in Italy, has less than 150 rooms, secondly because as usual one interprets the statistics as one is most comfortable with whereas never before, thank you when monitoring on the internet the customer is ready to dive headfirst into the most convenient offer. sfarinel Comment by sfarinel — April 16, 2010, at 2.47 pm @palingenius Certainly in Italy hotels on average have less than 150 rooms but apart from this Cornell's research is rather in-depth and carried out on a decidedly large sample of structures. As regards the interpretation of the data, it is true that everyone can interpret them as they want but numbers are numbers and if you interpret them badly you can make wrong choices.
There are 16 comments on this article » Riccardo Cocco Comment by Venezuela Phone Number Riccardo Cocco — 9 April 2010, at 1.19 pm Who said that Revenue Management is: “lowering rates Good work and good Revenue Management to everyone!! Riccardo Cocco Thu.Car Comment from gio.car — 9 April 2010, at 3.23pm I share the difficulty and being able to differentiate yourself. DIFFERENTIATE YOURSELF AND YOU WILL WIN!!! ps and human resources come FIRST... (watch out for easy outsourcing!!!) GabUd Comment from GabUd — April 10, 2010, at 08:01 Well…this study brings real numbers to what I have been thinking for a long time. Shamelessly lowering rates DOES NOT increase Revpar! I hope someone finally starts to think about it...Revenue Management and hotel management in general is made up of a billion things, all different but all synchronized with each other...just lowering the price doesn't lead to anything...especially if you lower it of the tariff is followed by a reduction in the quality of the service provided... greetings to everyone Gabriele Apostoli maxgamb Comment by maxgamb — April 13, 2010, at 07:31 Hello everyone, this is my first time writing even though I have been following you with interest for years.
It would be interesting if Prof Franco Grasso could comment on the data from Cornell University or if he could provide us with other studies of the opposite sign Thanks Massimo palingenius Comment from palingenius — April 14, 2010, at 6.37 pm For me, as usual, we are faced with the usual mystifications: firstly because the average hotel, at least in Italy, has less than 150 rooms, secondly because as usual one interprets the statistics as one is most comfortable with whereas never before, thank you when monitoring on the internet the customer is ready to dive headfirst into the most convenient offer. sfarinel Comment by sfarinel — April 16, 2010, at 2.47 pm @palingenius Certainly in Italy hotels on average have less than 150 rooms but apart from this Cornell's research is rather in-depth and carried out on a decidedly large sample of structures. As regards the interpretation of the data, it is true that everyone can interpret them as they want but numbers are numbers and if you interpret them badly you can make wrong choices.