Open AccessFORMATION OF THE PRICING POLICY OF HOTEL ENTERPRISES
Author(s) -
Liudmyla Maliuga,
Oksana Zagorodniuk,
Nataliya Tereshchuk
Publication year - 2021
Publication title -
ìnfrastruktura rinku
Language(s) - English
Resource type - Journals
ISSN - 2519-2868
DOI - 10.32843/infrastruct53-10
Subject(s) - tariff , pricing strategies , business , variable pricing , profitability index , profit (economics) , market segmentation , industrial organization , price discrimination , marketing , microeconomics , economics , finance , international trade
The article defines that the correct method of pricing, reasonable pricing policy, consistent implementation of a sound pricing strategy - these are the necessary components of the successful operation of any enterprise operating in market conditions.The factors that determine the peculiarity of pricing in the hotel industry and influence the choice of pricing strategy of the enterprise are analyzed: seasonality of prices and tariffs; it is not possible to produce hotel services "in stock"; wide gradation of profitability of different types of services and enterprises; simultaneous sale of services in the domestic and international markets; the importance of the pricing mechanism for additional services; high degree of influence of the price level in competing hotels; pronounced market segmentation and a high level of focus on the psychological characteristics of the guest; geographical factor.It is determined that it is impossible to choose a certain pricing policy at once and implement it for a long time. It must be constantly checked and adapted to the situation in the market. We have considered the types of prices and general methods of pricing under the influence of objective and subjective factors, namely the cost of the room and the acceptability of the tariff for the final consumer. Thus, on the one hand, the hotel rate should cover the cost of maintaining the hotel and return the capital invested in it, and on the other - the cost of the room should not alienate a potential guest.There are two fundamentally different methodological approaches to setting tariffs for hotel accommodation. The main principle of the first approach is to first form a price that ensures the return on all costs and target profit and, then, its adjustment to take into account information about the level of prices prevailing in the market.The second approach is based on the reverse logic and involves determining the market price and only then adjusted depending on the level of fixed and variable costs of the enterprise to ensure the target profit.The advantages and disadvantages of direct and reverse approaches to the formation of prices for the main types of hotel services are outlined.