While the researchers found that demand for an individual hotel does, in fact, decline as the price increases, that effect is so small that Canina and Carvell conclude that cutting prices and selling more rooms rarely results in greater revenue. Complicating that analysis, however, is how consumers choose more or less expensive hotels because of changes in income or changes in relative prices.
Thus, while the study's findings imply that price discounts will not usually enhance revenues, consumers' willingness to trade up when they see discounts in upscale hotels means that discounting has at least the appearance of boosting demand, if not total revenues across the market. The Center for Hospitality Research, which conducts and sponsors research studies aimed at improving the hospitality industry's fundamental operating knowledge, plans additional studies to further understand hotel room pricing behavior.
The study was made possible by data provided by Smith Travel Research. You may request a quote and purchase directly through our CDWG representative, Colin Morris, and the contact information is: Email: colimor cdwg.
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