Investigating pricing strategies of hotel rooms in city centre: a case study
In this article, the pricing strategies among hotel rooms dwelling in the city centre are investigated. A sample of 25 hotels with star ratings from 2 to 4 are selected, all situated in the heart of Georgetown, Penang. The primary data is collected, in which hotel room prices were observed for Decem...
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my.uum.repo.268292020-02-24T00:32:06Z http://repo.uum.edu.my/26829/ Investigating pricing strategies of hotel rooms in city centre: a case study Md Yusof, Zahayu Misiran, Masnita Aqil, Mohammad Sien, Linda Chin Yee Min, Ng Yiu HD28 Management. Industrial Management In this article, the pricing strategies among hotel rooms dwelling in the city centre are investigated. A sample of 25 hotels with star ratings from 2 to 4 are selected, all situated in the heart of Georgetown, Penang. The primary data is collected, in which hotel room prices were observed for December 2018 through online travel operator, agoda.com platform. A comparative study of four forecasting methods, i.e. simple moving average, adaptive response rate exponential smoothing and multiplicative decomposition method were used to investigate the patterns of pricing strategies for these hotel rooms, with their accuracies being measured. The findings revealed that the average pricing of the room is at its peak before the public holiday, with the seasonal pattern being present, in which the prices are higher on Fridays weekly. Room prices for a hotel with higher star rating were also observed to be more sensitive to holiday effects as opposed to the hotel with a lower star rating. 2019 Article PeerReviewed application/pdf en http://repo.uum.edu.my/26829/1/AJARR%205%203%202019%201%209.pdf Md Yusof, Zahayu and Misiran, Masnita and Aqil, Mohammad and Sien, Linda Chin Yee and Min, Ng Yiu (2019) Investigating pricing strategies of hotel rooms in city centre: a case study. Asian Journal of Advanced Research and Reports, 5 (3). pp. 1-9. ISSN 2582-3248 http://doi.org/10.9734/ajarr/2019/v5i330132 doi:10.9734/ajarr/2019/v5i330132 |
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HD28 Management. Industrial Management Md Yusof, Zahayu Misiran, Masnita Aqil, Mohammad Sien, Linda Chin Yee Min, Ng Yiu Investigating pricing strategies of hotel rooms in city centre: a case study |
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In this article, the pricing strategies among hotel rooms dwelling in the city centre are investigated. A sample of 25 hotels with star ratings from 2 to 4 are selected, all situated in the heart of Georgetown, Penang. The primary data is collected, in which hotel room prices were observed for December 2018 through online travel operator, agoda.com platform. A comparative study of four forecasting methods, i.e. simple moving average, adaptive response rate exponential smoothing and multiplicative decomposition method were used to investigate the patterns of pricing strategies for these hotel rooms, with their accuracies being measured. The findings revealed that the average pricing of the room is at its peak before the public holiday, with the seasonal pattern being present, in which the prices are higher on Fridays weekly. Room prices for a hotel with higher star rating were also observed to be more sensitive to holiday effects as opposed to the hotel with a lower star rating. |
format |
Article |
author |
Md Yusof, Zahayu Misiran, Masnita Aqil, Mohammad Sien, Linda Chin Yee Min, Ng Yiu |
author_facet |
Md Yusof, Zahayu Misiran, Masnita Aqil, Mohammad Sien, Linda Chin Yee Min, Ng Yiu |
author_sort |
Md Yusof, Zahayu |
title |
Investigating pricing strategies of hotel rooms in city centre: a case study |
title_short |
Investigating pricing strategies of hotel rooms in city centre: a case study |
title_full |
Investigating pricing strategies of hotel rooms in city centre: a case study |
title_fullStr |
Investigating pricing strategies of hotel rooms in city centre: a case study |
title_full_unstemmed |
Investigating pricing strategies of hotel rooms in city centre: a case study |
title_sort |
investigating pricing strategies of hotel rooms in city centre: a case study |
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2019 |
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http://repo.uum.edu.my/26829/1/AJARR%205%203%202019%201%209.pdf http://repo.uum.edu.my/26829/ http://doi.org/10.9734/ajarr/2019/v5i330132 |
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