This is the fifth post and it is going to talk Forecasting 2011 travel. The reason that I choose to read and summaries this article is because I think this article is going to be very useful for my term paper.
Travel and tourism industry is such an unpredictable job. In the past few years, the industry faced some difficulties problem. The National Business Travel Association president says ”Business travel is coming back” By saying this could imply that the industry is going to be better this year. According to NBTA Foundation survey, travel budget has grown on average of 5.5 percent and could possibility grow up more than that in 2011. A combination of increased corporate which lead to motivate travel demand and higher suppliers pricing. The average travel budget is expected to grow up to 98 million dollars. 67 percent of suppliers expected to have a higher supplier pricing.
In my view, Travel and tourism including hotel industry are going to get better than what it was last year. Lastly, I'm attempting to use some of this useful information to help and support my term paper.
I have attached the following link as a reference for my summary:
http://www.hotelmarketing.com/index.php/content/article/forecasting_2011_travel/
Sunday, 14 November 2010
Wednesday, 10 November 2010
How much should competitors influence your hotel’s pricing strategy?
This is the fourth post and it is going to talk about A Shift to Dynamic Pricing in Asia, I will summaries the article call" How much should competitors influence your hotel’s pricing strategy?" The reason that I choose to read and summaries this article is because I think this article is going to be very useful for my term paper.
Different component has difference standard of pricing. For example, Asian hoteliers’ room price has always been length of stay, rate management and overlooking management. Dynamic pricing is a demand as a function of price and the best price strategy being used in order to obtain through a complex pricing strategy which would lead to increase income. A hotel that charges at a fixed room rate could lose an opportunity of getting a great deal of money. Marketing pricing is being sold to a large amount of rooms, relevant packages through the balancing of benefits and price. A particular hotel decided their own pricing strategy based on a product they are offering, depends on their target market, competitors’ pricing and the cost of production.
In my view, competitors’ pricing do influence on a business pricing. If a business be in a strong competitive market, prices should be very similar or equal to other products, so will be able to compete with the others and be survived in the market. Lastly, I'm attempting to use some of this useful information to help and support my term paper.
I have attached the following link as a reference for my summary:
http://www.hotelmarketing.com/index.php/content/article/how_much_should_competitors_influence_your_hotels_pricing_strategy/
Different component has difference standard of pricing. For example, Asian hoteliers’ room price has always been length of stay, rate management and overlooking management. Dynamic pricing is a demand as a function of price and the best price strategy being used in order to obtain through a complex pricing strategy which would lead to increase income. A hotel that charges at a fixed room rate could lose an opportunity of getting a great deal of money. Marketing pricing is being sold to a large amount of rooms, relevant packages through the balancing of benefits and price. A particular hotel decided their own pricing strategy based on a product they are offering, depends on their target market, competitors’ pricing and the cost of production.
In my view, competitors’ pricing do influence on a business pricing. If a business be in a strong competitive market, prices should be very similar or equal to other products, so will be able to compete with the others and be survived in the market. Lastly, I'm attempting to use some of this useful information to help and support my term paper.
I have attached the following link as a reference for my summary:
http://www.hotelmarketing.com/index.php/content/article/how_much_should_competitors_influence_your_hotels_pricing_strategy/
Monday, 8 November 2010
Hotel rates rise as more people travel
This is the third post and it is going to talk about hotel rates rise as more people travel, I will summaries the article call"Hotel rates rise as more people travel" The reason that I choose to read and summaries this article is because I think this article is going to be very useful for my term paper.
Room rates are going to rise as more people travel. In the recent years, there is a decreasing in the number of tourists due to an economic problem which makes people choose to stay at home rather than travelling. Hotel operators assumed that the situation this year is going to be better than the recent years, customers would increase and they also expected room rates to rise. Rates are rising as demand for room has grown. According to Smith Travel Research, the number of rooms sold in the U.S. rise 8.3% and 7.4% year to date average. The result shows that hotel industry is getting better and getting away from decline state.
In my view, it’s true that room rates will be able to rise as demand for room has grown because as demand goes down, supply stay the same and the price then will increase. It just like when many people want to buy the same thing which limited on the quantity, a company then has a chance to increase the selling price because a product is limited and people needs it. Lastly, I'm attempting to use some of this useful information to help and support my term paper. I expected to know more about during a current situation, what marketing strategy should be used in order to be effective to hotel.
I have attached the following link as a reference for my summary:
http://www.hotelmarketing.com/index.php/content/article/hotel_rates_rise_as_more_people_travel/
Room rates are going to rise as more people travel. In the recent years, there is a decreasing in the number of tourists due to an economic problem which makes people choose to stay at home rather than travelling. Hotel operators assumed that the situation this year is going to be better than the recent years, customers would increase and they also expected room rates to rise. Rates are rising as demand for room has grown. According to Smith Travel Research, the number of rooms sold in the U.S. rise 8.3% and 7.4% year to date average. The result shows that hotel industry is getting better and getting away from decline state.
In my view, it’s true that room rates will be able to rise as demand for room has grown because as demand goes down, supply stay the same and the price then will increase. It just like when many people want to buy the same thing which limited on the quantity, a company then has a chance to increase the selling price because a product is limited and people needs it. Lastly, I'm attempting to use some of this useful information to help and support my term paper. I expected to know more about during a current situation, what marketing strategy should be used in order to be effective to hotel.
I have attached the following link as a reference for my summary:
http://www.hotelmarketing.com/index.php/content/article/hotel_rates_rise_as_more_people_travel/
Monday, 1 November 2010
Price, location and reviews drive hotel selection process
Today post will be about the factors that could affect customer's decision on selecting hotel, I will summaries the article call"Price, location and reviews drive hotel selection process" The reason that I choose to read and summaries this article is because I think this article is going to be very useful for my term paper.
Hotel industry is in a strong competitive market, marketers of hotels required to work really hard to understand and reach customers’ satisfaction in order to achieve a business goal. According to Epsilon, marketing company who is an expert in consulting, marketing data, technology and agency work together to create a real experience for customers which would lead to stronger connection between a company and customers. Epsilon did a survey about the factors that affect customer’s decision on choosing a place to stay. The result shows that things like price, location, hotel reviews, hotel website and recommendation from friends and family who had visited the place are most influence customer’s decision on choosing which hotel they are going to stay. In the other hands, beside knowing the influence factors that affect customer’s decision, the result also shows that only thirty three percent of four hundred customers knew exactly which hotel they would select and about two third of customers are pretty sure or unsure about their decision.
In my view, I did agree with the result shown that price, location, hotel reviews, hotel website and recommendation from friends and family are most influence customer’s decision because for me as a customer, these sources of things are going to affect my decision as well. This article is talking about the factors that influence customer decision, so some of the information could be useful for my term paper. Knowing an influence factors could be very helpful for the marketing plan because once the marketers know an influence factors they then will be able to create the right marketing plan. Writing the right marketing plan is going to be effective to hotels because this means that hotel will has more chance to survive in a competitive market. Lastly, I'm attempting to use some of this useful information to help and support my term paper. I expected to know more about between Eco tourism and mass tourism which one is most popular for current travelling trend.
I have attached the following link as a reference for my summary:
http://www.hotelmarketing.com/index.php/content/article/price_location_and_reviews_drive_hotel_selection_process/
http://www.epsilon.com/About-Us/p36-l1
Hotel industry is in a strong competitive market, marketers of hotels required to work really hard to understand and reach customers’ satisfaction in order to achieve a business goal. According to Epsilon, marketing company who is an expert in consulting, marketing data, technology and agency work together to create a real experience for customers which would lead to stronger connection between a company and customers. Epsilon did a survey about the factors that affect customer’s decision on choosing a place to stay. The result shows that things like price, location, hotel reviews, hotel website and recommendation from friends and family who had visited the place are most influence customer’s decision on choosing which hotel they are going to stay. In the other hands, beside knowing the influence factors that affect customer’s decision, the result also shows that only thirty three percent of four hundred customers knew exactly which hotel they would select and about two third of customers are pretty sure or unsure about their decision.
In my view, I did agree with the result shown that price, location, hotel reviews, hotel website and recommendation from friends and family are most influence customer’s decision because for me as a customer, these sources of things are going to affect my decision as well. This article is talking about the factors that influence customer decision, so some of the information could be useful for my term paper. Knowing an influence factors could be very helpful for the marketing plan because once the marketers know an influence factors they then will be able to create the right marketing plan. Writing the right marketing plan is going to be effective to hotels because this means that hotel will has more chance to survive in a competitive market. Lastly, I'm attempting to use some of this useful information to help and support my term paper. I expected to know more about between Eco tourism and mass tourism which one is most popular for current travelling trend.
I have attached the following link as a reference for my summary:
http://www.hotelmarketing.com/index.php/content/article/price_location_and_reviews_drive_hotel_selection_process/
http://www.epsilon.com/About-Us/p36-l1
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