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About this document
- Pages
- 15 pages
- Price
- $15 one-time, yours to keep
- Membership
- Included in every plan
- Format
- Subject
- Business, Hospitality, Marketing
This case study looks at the pricing strategy of the Avari Ramada Hotel in Lahore. It covers the hotel’s characteristics, market segmentation, pricing objectives, and strategies. It helps students understand pricing methods and their application in the hospitality industry.
What's inside
- Hotel characteristics and problem statement
- SWOT analysis
- Market segmentation and target market
- Pricing objectives and methods
- Pricing strategies and promotional activities
Who it is for: Students studying business, marketing or hospitality. (Undergraduate)
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Summary
The document outlines the pricing strategy of Avari Ramada Hotel, a 5-star hotel in Lahore. It discusses the hotel's characteristics, its market position and how to increase its average room rate. Students learn about the hotel's pricing methods, including how it uses discounts and promotions.
The Hotel and its Problem
Avari Lahore is a five-star hotel affiliated with the Ramada Renaissance Hotel chain. Its room rates had fallen below its main competitor, Pearl Hotel. The hotel's assistant sales and marketing manager wants to re-evaluate the pricing policy.
Market Segmentation and Positioning
The hotel's customer base is segmented into business, walk-in, tour groups and others. It aims to reposition itself by offering different pricing strategies for each segment. Core, basic, expected and augmented product levels are defined.
Pricing Strategies
The hotel uses several pricing strategies. These include differentiated pricing, contract rates, promotional pricing and optional product pricing. The document discusses how each of these strategies works.
Solutions and Recommendations
The document recommends a summer package to increase occupancy. It also proposes bundling food and room rates. A customer loyalty program to increase repeat business is suggested.
Key terms
- Going rate pricing
- Pricing based on competition and demand.
- Third degree price discrimination
- Charging different amounts to different classes of buyers.
- Promotional pricing
- Offering special prices to certain customers.
- LBS (Luxury Business Service) and VLBS (Volume Luxury Business Service)
- Types of rates for business clients.
- Optional product pricing
- Attempting to increase the customer's amount spent.
- Relationship marketing
- Enhancing goodwill and building long-term relationships with customers.
Questions this document helps with
- What is the current pricing strategy of Avari Ramada Hotel?
- How does Avari Ramada Hotel segment its market?
- What are the different pricing strategies used by the hotel?
Summary written with AI from the document's text.
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