When it comes to pricing psychology, perception can be more important than reality. And frames of reference will differ across individuals. So, your guests’ perceptions may be very different from our own perceptions of your pricing and products – and will even vary from guest to guest.

Hotels must clearly communicate the value they offer. It’s crucial for hotel revenue managers to understand how and why their guests book, so you can adjust rates accordingly. By considering the psychological pricing factors that influence travelers’ behaviors, you will enjoy healthier revenues and more robust profit margins.