TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

HOTEL DISCOUNTS Travelers Inexact Sense of Value

Category: Hotels, Posted:28 Apr 2010 | 06:00 am

During the recent financial downturn there has continued to be considerable debate, as was the case in the 1997 Asian contagion amongst hoteliers on who was able to capture the greater market share when prices dropped. Did brands outperform independents, or could the later who could offer the lowest prices prosper more.
I've been reading the book 'Priceless: The Myth of Value” by William Poundstone who probes deeper into the psyche of consumers. One of the points made is that often buyers shy away from the most expensive and least expensive items and often apply an inexact sense of value.
Looking back at market research in 2009 on the Phuket Hotel Market on broad numbers, it was apparent that brand premiums were in place on pricing and that in many cases travelers were willing to pay a little extra for what they considered the known benefits of a brand.
Certainly there remain key exceptions such as the stunning success of independent hotels like Twinpalms in Surin Beach, but examining pricing going into low season is going to be interesting to see exactly what the numbers will bring for the islands branded and non branded establishments.

Other News

Read more

Direct International Flight For Koh Samui Coming

Category: Tourism, Posted:27 Jul 2021 | 11:29 am Koh Samui is set for the resumption of international flights from Singapore on the 1st of August. Under the Samui Plus program and expecting increased demand, Bangkok Airways is taking this first step for the direct overseas service. The initial stage is three flights a week on Monday, Thursday and Sunday. Meanwhile in the Phuket […]
Read more

Thailand Property Takes Urban Flight As Lifestyle Takes Over

Category: Real estate, Posted:26 Jul 2021 | 06:00 am Thailand’s resort real estate markets have experienced a dramatic reset in buyer profiles over the past eighteen months of the pandemic. A strong wave of domestic demand has seen Thais flocking to the country’s leisure destinations and snapping up holiday or second homes. According to new data released by Thai property portal FazWaz, the popular […]
Read more

Just Another Sunday – Catch-Up

Category: Tourism, Posted:25 Jul 2021 | 15:08 pm It’s a great day to catch up on last week’s video sessions. Check out a replay of the special Business Insider Thailand Resort Property online event.  We also talk to a leading Thai developer on rewriting the map in Northwest Phuket, where a second resort-styled CBD is emerging and finally more on the ongoing Sandbox. […]