Hotel retailing with attribute-based room pricing and inventory control

Abstract

Attribute-based pricing is the new era of retailing in the hospitality industry. This approach to room pricing improves customer satisfaction, since customers can purchase exactly the type of room they want for a memorable stay. For hoteliers, attribute-based pricing provides an opportunity to overhaul existing legacy rate structures with rate simplification and also generate incremental revenues since an infinite number of options can be inventory controlled on the price demand curve.