Marketing Strategy: Pricing Strategy In The Hospitality Industry

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Strategy
Pricing Strategy
1. Different Hotels have different pricing strategy it is divided according to the type of customers they cater. For example: For ultra rich people they have special rooms & services (special suits) they charge a high amount of money.
2. For International Tourists they have special packages which include room charges as well as Sightseeing services. Since Tourists have different economic budget constraints they have different packages accordingly that is from high to medium price.
3. As the National Tourism plays a vital role in the Hotel occupation Business. So, the Hotels have got special pricing strategies for local tourists.
4. As the Hospitality industry’s major source of income is the meetings , conferences and ceremonies which are held in the hotels. So, hotels have different pricing strategies as per their requirements. …show more content…

As there is a lot of competition in attracting the consumer so different pricing is done by the hotels and some hotels are providing discounts and special packages for different professionals. For Example: Hyatt announced a flat discount on its daily room rate, as a ‘Monsoon Flash Sale’. The Hotel Chain will sell its rooms at a 50 per cent discount for bookings made between August 1–15, 2013 for stay between August 1 and October 31, and again from December 16 to January 10, 2015.The discount will be available for any length of stay, at all its 19 properties across the country. This would mean an upscale Hotel room at Hyatt may be priced at ₹4,000 or even less. Advertising
• The Hotel industry in India follows a mixed strategy of advertising, they go for online advertising through websites like Expedia.co.in , Yatra.com etc. where they give different promotional offers in terms of price discount and complementary services.
• They also go for advertisement through business magazines and newspapers.
• Through social media they advertise by spreading the promotional offers and various types of group

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