Abstract
Pricing in the hospitality industry is significantly different from pricing in the traditional consumer goods market. This paper focuses on price framing and customer reactions to different price presentation formats. Specifically, we highlight seven types of pricing strategies that are commonly used in the hospitality industry, namely price endings/odd pricing, discounts framing, best available rate (BAR), package/bundling, participative pricing strategy such as name-your-own-price (NYOP) and pay-what-you-want (PWYW), and flash deals/daily deals. We offer several propositions that might sparkle interest among hospitality researchers.
| Original language | English |
|---|---|
| Pages (from-to) | 175-185 |
| Number of pages | 11 |
| Journal | International Journal of Revenue Management |
| Volume | 9 |
| Issue number | 2-3 |
| DOIs | |
| Publication status | Published - 1 Jan 2016 |
| Externally published | Yes |
Keywords
- Hospitality
- Hotel
- Price framing
- Pricing
- Restaurant pricing
ASJC Scopus subject areas
- Business and International Management
- Finance
- Economics and Econometrics
- Strategy and Management