Today's Revenue Management thought:-

Consumers are generally resistant to accepting price gouging in hospitality as a norm within pricing cycles.

While fluctuations based on demand and seasons are expected, exploiting emergencies or high-demand situations excessively can lead to negative consumer sentiment.

Such practices are often perceived as opportunistic and unfair, eroding trust between businesses and customers. Acceptance of price gouging as a routine pricing strategy contradicts consumer expectations of fairness and transparency.

The hospitality industry relies heavily on positive customer experiences and satisfaction. Engaging in price gouging risks damaging a hotel's reputation and may result in long-term consequences, such as loss of customer loyalty and negative online reviews.

Consumers increasingly prioritise ethical business practices, and any departure from fair pricing can lead to a decline in trust and overall satisfaction.

For these reasons, hotels are advised to exercise caution and prioritise ethical considerations in their pricing strategies to maintain a positive and sustainable relationship with their customer base.

Have a profitable week !

✌🏼