Vol. 11 No. 1-2 (2020)
Articles

DYNAMIC PRICING AND STRATEGIC CONSUMERS: CHALLENGES AND COOPERATION IN THE HOTEL SECTOR

Published June 30, 2020
pdf (Magyar)

APA

Fazekas, L. R. (2020). DYNAMIC PRICING AND STRATEGIC CONSUMERS: CHALLENGES AND COOPERATION IN THE HOTEL SECTOR. Economica, 11(1-2). https://doi.org/10.47282/economica/2020/11/1-2/5750

A few decades ago dynamic pricing was a magic word in hotel industry. It was considered a mythic activity, and therefore, operators and owners expected that its introduction would result in a drastic increase in profitability. Then it turned out that it required systematic data collection, the best possible IT background in terms of the resources, and the presence of specialists. It can be accepted as a fact, that those who stayed out were left behind. However, which direction did those who joined take? What did they achieve? It became an independent activity with several trends and connection points. It can rightly be called the cornerstone of hotel industry yield management. In my review, I intend to show the present state of the hotel industry in the area of dynamic pricing. However, the representatives of each trend have a common goal: maximising their revenues in the long term.