Today's Revenue Management thought:-

Hotels should avoid price gouging for ethical and strategic reasons.

• Firstly, it risks damaging the hotel's reputation, eroding customer trust, and jeopardising long-term success.

• Secondly, it may lead to negative reviews and social media backlash, deterring potential guests.

• Thirdly, cultivating customer loyalty through fair pricing is crucial for sustained profitability in the competitive hospitality market.

  • Lastly, engaging in price gouging during emergencies can be perceived as exploitative, tarnishing the hotel's image and potentially attracting legal consequences.

Prioritising fair and transparent pricing aligns with industry standards and fosters positive relationships with customers, contributing to a sustainable and reputable business.

Have a profitable week !

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