Competitive Value Analysis

Value-based pricing requires determining what your customers truly value. This can include a high willingness to pay for products and features necessary for a particular stay, the lowest rate for price-sensitive guests, and everything in between.

In this course, we introduce a unifying framework for examining different methods of accommodation pricing, including:

• Understand the value proposition and rate tactics of your key competitors
• Develop a competitive advantage based on the analysis findings and reposition a hotel by offering better value for consumers.
• A template spreadsheet is provided to facilitate pricing research

You will learn the following:

• A method to validate pricing strategy for a hotel’s rooms and ancillary products using a template developed by hoteliers
• A structure to review and update this strategy when required
• A best practice process for developing your pricing customised to your property
• A reliable method to work out your competitor's "Net Promoter Score."
• Develop a competitive advantage based on the analysis findings and reposition the hotel by offering better value for money for consumers