How Much Do Hotel Prices Fluctuate?
by July 15, 2015 10:55 am 154 views
Are you paying a premium rate on your hotel to vacation at hot vacation spots in the summer? The answer is probably yes.
Data crawling service Priceonomics reports on the most expensive places to book hotel rooms in the summer and the places where the price changes the most during peak tourist times.
Popular destinations for Arkansas travelers like Destin, Florida and Gulf Shores, Alabama make the list.
Hotels play a delicate balancing act with their pricing, aided by revenue management software. They need to predict when demand will be high, and just how richly they can price the room based on competition, local events, and people’s vacation schedules.
At the same time, during periods of lower demand, they need to make sure the prices are enticing enough that their rooms aren’t sitting empty. The result is that prices are highly volatile and fluctuate dramatically by season.
Traveling in the off-season can result in big savings for the budget conscious, Priceonomics concludes.