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Marriott Pricing Strategy In Hotel Industry

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4) Pricing strategy
Price is one of the important factors in hospitality industry so designing the price of is very crucial and complex part in this sector. When a firm price their product ultimate goal to achieve some objective, These may includes increase the revenue, increase the market share, and increase the profitability ,survive the completion, etc. price of the product all way effect the consumer buying behavior and price of the product send the message to the customers. Totally agreed concept of the price is the elasticity of demand and supply apart from this theory product price relate other factors such as cost of production and substitute the product, availability of supply and raw material, quality of the product compare to …show more content…

Marriott pricing structure closely linked with distribution. Marriott follow a ethical price tactics it is guideline it’s called Look No Further Best Price Guarantee Marriott ensure that all the employees has follow this and guest get best price in any of the Marriott booking channels. Price integrity/parity one of strategy for Marriott guaranty best available rate of booking through any Marriott web site or any Marriott branded website, direct in the hotel .more or less customers get not only internet rate but also available room rate any online or offline Marriott booking channel. So Marriott provide same rate or better than the travel agencies rate .Marriott pricing system change to fixed rate to dynamic price. As a international operator and franchisor major problem Marriott do pricing strategy day by day basis because most the franchisor show to move to the low price category to gain more …show more content…

in 2014 they managed 70,2254 rooms on 4127 .Marriott new properties need little or no investment from the company . (www.profitconfidential.com). Marriott is planning aggressive expansion in 2015 world wide especially luxury and lifestyle segments Europe and America and budget or full-service hotels like courtyard Asia pacific region especially in India and china. Third quarter of 2014 shows tremendous growth in Marriott RevPAR and ADR in North America RevPAR increased 8.7% and ADR

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