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Dynamic pricing in hospitality: overview and opportunities

Author

Listed:
  • Chris K. Anderson
  • Xiaoqing (Kristine) Xie

Abstract

While dynamic pricing as a discipline is well developed and a critical aspect of many approaches to revenue management it remains relatively underdeveloped in hospitality applications. In the following we outline the distinctions between variable and dynamic pricing and highlight their role within revenue management. We provide an overview of dynamic pricing research within hospitality with a focus on the dynamic pricing of hotel rooms. In our discussion of dynamic pricing research, we focus on how this research relates to the current state of hotel room pricing. Through the linkage of research to practice we are able to highlight opportunities for future dynamic pricing research efforts within hospitality specifically.

Suggested Citation

  • Chris K. Anderson & Xiaoqing (Kristine) Xie, 2016. "Dynamic pricing in hospitality: overview and opportunities," International Journal of Revenue Management, Inderscience Enterprises Ltd, vol. 9(2/3), pages 165-174.
    • Handle: RePEc:ids:ijrevm:v:9:y:2016:i:2/3:p:165-174
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    Citations

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    Cited by:

    1. Yaping Wang & Kelly McGuire & Jeremy Terbush & Michael Towns & Chris K. Anderson, 2021. "Choice-Based Dynamic Pricing for Vacation Rentals," Interfaces, INFORMS, vol. 51(6), pages 450-462, November.
    2. Nadia El-Nemr & Béatrice Canel-Depitre & Atour Taghipour, 2017. "Determinants Of Hotel Room Rates," Post-Print hal-02332636, HAL.
    3. Martin Petricek & Stepan Chalupa & David Melas, 2021. "Model of Price Optimization as a Part of Hotel Revenue Management—Stochastic Approach," Mathematics, MDPI, vol. 9(13), pages 1-16, July.
    4. Alemayehu, Fikru K. & Kumbhakar, Subal C. & Landazuri Tveteraas, Sigbjørn, 2022. "Estimation of staff use efficiency: Evidence from the hospitality industry," Technological Forecasting and Social Change, Elsevier, vol. 178(C).
    5. Aldric Vives & Marta Jacob & Eugeni Aguiló, 2019. "Online hotel demand model and own-price elasticities: An empirical application in a mature resort destination," Tourism Economics, , vol. 25(5), pages 670-694, August.
    6. Ibrahim Mohammed & Basak Denizci Guillet & Rob Law & Wassiuw Abdul Rahaman, 2021. "Predicting the direction of dynamic price adjustment in the Hong Kong hotel industry," Tourism Economics, , vol. 27(2), pages 346-364, March.
    7. Martin Petricek & Stepan Chalupa & Karel Chadt, 2020. "Identification of Consumer Behavior Based on Price Elasticity: A Case Study of the Prague Market of Accommodation Services," Sustainability, MDPI, vol. 12(22), pages 1-14, November.
    8. Aldric Vives & Marta Jacob & Marga Payeras, 2018. "Revenue management and price optimization techniques in the hotel sector," Tourism Economics, , vol. 24(6), pages 720-752, September.

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