Lowest Price Guarantee Reservations: What Hotel Companies Need to Do to Get It Right

Topics:
Lodging
Tags:
Cornell University,
Guarantee,
Marketing,
Marketing Research,
Pricing,
Pricing Strategy
Source:
Cornell University

Vendor Registration: required

Overview: While this growth has driven up the profits of internet online travel agencies, hotel operators are experiencing a loss of control over the pricing of rooms and a potential transfer of pricing authority to such third-party companies. The popularity of such services stems from the consumers' desire to obtain the lowest rate within their desired market segment. One possible cure is to offer a best rate guarantee. This report shows that current rate guarantees are essentially worthless to consumers; and demonstrate how a hotel company can structure a best rate guarantee that would provide value to consumers.

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Format: PDF | Size: 363KB | Date: Jan 2005 | Pages: 28

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