Hotel Room Pricing: It’s All About the Value

Hotel room pricing is definitely at or near the top of most travelers’ lists, but it’s not the only check box they’re ticking.

Whether your hotel is one of several in an urban location or a lone wolf planted next to nowhere, you’ve still got competition. From price point to amenities, customers are weighing the pros and cons of booking a room with you.

Looking for Value

Sure, you’ll always have those customers who simply want the cheapest place to lay their heads for the night. But is that how you want your hotel to be perceived? If that’s the market segment you’re targeting, that’s fine. The reality, though, is more and more travelers are looking at bang for their buck, not just the buck.

What kinds of features, then, raise the perceived value of a room?

  • Queen-size beds. Nothing says “comfort” like a little extra elbow room.
  • An in-room coffeemaker tells customers you understand their need for caffeine before facing the world outside their door.
  • Free coffee and/or breakfast, which saves customers time and money searching for a restaurant.
  • Free WiFi, though this may depend on your location and your target customer. Business customers won’t consider a facility lacking high-speed Internet access. However, travelers who really want to get away from it all may consider WiFi a turnoff. It’s all about knowing what your customer wants.

Season(ing)

Though in some regions demand rises and falls more dramatically than in others, every hotel experiences a high and low season. For example, around spring break, south Florida resorts are packed with winter-weary guests who’ll pay any price to get out of the snow, but in mid-summer, room rates fall to keep the reservation lines humming with a different target customer.

About the Competition

Returning to our remotely located hotel example above, it’s important to not compare your facility to one that’s radically different in size, scope, and the range of offered amenities. You need to find hotels that are similar to yours in your region and comparable in size, amenities, and services, and consider those your competition—even if a big-name chain is situated across the road.

After all, when potential customers go to an online booking engine to search for hotels in a certain area, they’re going to be looking by hotel room pricing and attributes, not just pricing.

Let Us Help

Don’t be an apple in a search result full of oranges. Let us help you make your hotel an online force to be reckoned with. Contact us today!

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