Comparative Analysis of Dynamic Pricing Strategies for Online Hotel Bookings: A Case Study of Luxury Hotels in Major Tourist Destinations

Abstract

This study conducted a comparative analysis of pricing models and strategies employed by luxury hotels in major tourist destinations. The analysis focused on revenue generation, customer satisfaction, customer segmentation, demand patterns, flexibility, and adaptability to market conditions. The findings highlighted the effectiveness of various pricing models, including time-based pricing, demand-based pricing, competitor-based pricing, and segmentation-based pricing, in maximizing revenue and enhancing customer satisfaction. The implications of the findings on revenue management and pricing strategies in luxury hotels were discussed, emphasizing the importance of customer segmentation, advanced technology, and continuous monitoring. The study also identified limitations and suggested potential areas for further research.