ABSTRACT
242Hotel managers have always faced the challenge of use of pricing strategies to achieve both revenue and customer satisfaction. The objective of this paper is to identify existing practices of price setting in hotels of National capital region and strategies adopted by managers in price sensitive and fierce competitive market. This information will enable us to analyze the thoughts and price pressures hotel managers go though in driving value for customers through pricing strategies and to make recommendations accordingly.
The chapter uses qualitative primary research through structured open ended interview to discuss in detail pricing strategies. The interviews will be conducted with senior management responsible for pricing decisions like revenue managers or General Managers from a spectrum of hotels in National Capital Region of India. It is imperative for the hotels to understand the perceived customer value of the product or service in a global context and respond appropriately to change in the market conditions. This research will provide the understanding of the intentions of the hotels towards pricing strategies and the overall aim to be achieved through pricing. This makes this research quite valuable for academic researchers and practitioners to understand the factors that could be important for sustainable pricing strategy.
