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TOPIC: Pricing Strategies

INSTRUCTIONS: Choose a specific market segment, such as family leisure or business traveler. Use Royal Palms Resort and Spa that caters to the market you selected and use Arizona Biltmore, A Waldorf Astoria Resort, Hyatt Regency Phoenix, Arizona Grand Resort & Spa, Hilton Phoenix Airport, Fuego at the Clarendon for its comparable set (at least five comparable properties) utilizing data from various sources such as TripAdvisor, Trivago, Kayak, etc. Identify a hotel service and product attributes that contribute to the desired guest experience for that market segment using property/brand websites, review sites, and social media platforms, and examine pricing, photos, descriptions, reviews, and service ratings.

ANSWER THE FOLLOWING QUESTIONS WITH THOROUGH EXPLANATION ONCE THE EXCEL IS DONE:

1. Does the comp set seem reasonable? Are there any hotels that do not seem to belong with the group? Why or why not?

2. Is your selected subject hotel priced appropriately? Are there any hotels that offer more value? Why or why not?

3. How can you increase the value for the price paid based on the chart data on the Pricing tab of the Excel tool?

4. What investments/enhancements do you recommend to increase the value of your selected hotel?

5. What hotel seems to be a threat to capturing more guests based on current positioning? Why?

READ THE INSTRUCTIONS IN EXCEL: PUT THE ACTUAL PRICES AND DATA OF EACH HOTELS