What you will learn
Since hoteliers offer multiple rates for essentially the same room type it is critical to understand the importance of pricing and all it encompasses. This course explores strategic pricing and the various pricing-related elements. Pricing strategies allow hotels to charge different room rates for the same or similar rooms according to customer‚Äôs characteristics and needs. For example a senior citizen traveller looking for a Seniors discount has different needs, different characteristics and a different willingness to pay than a corporate traveller has. As a result they may book the exact same room but pay a much different price. Along with the different price may be certain booking requirements or unique restrictions.