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Financial Sector Conduct Authority says fine imposed should remind companies that misleading and false advertising will not be tolerated.
TOURISM MARKETING
By our News Team | 2023
Researchers discover how a hotel’s pricing structure and the online reviews it receives can impact consumers’ booking decisions.
Researchers in the US have published a new Journal of Marketing article that examines the impact of online reviews on hotel booking performance, with a specific focus on the competitive effects of reviews.
A team from Texas Christian University, the University of South Carolina and RealPage, a property management software company, have jointly produced the study titled ‘The Competitive Effects of Online Reviews on Hotel Demand’.
Illustration courtesy of Pixabay
They examined review-based competitive effects by utilising hotel booking data at an individual booking level.
Analysing information from six upmarket hotels in six cities over a three-year period – along with ratings and reviews from the TripAdvisor website – the researchers investigated the effects of competitor hotel prices and of the hotel’s own pricing structure.
Lessons for hoteliers and CMOs
The study offers several insights for hoteliers and chief marketing officers:
Additionally, if the hotel’s prices are perceived as high, they may see a larg drop in bookings because of more negative reviews, or because its competitors receive more positive reviews.
“Hotel managers must evaluate their review scores in conjunction with their prices and incorporate review scores into their marketing strategies. Although most hotel chains employ sophisticated dynamic pricing, we are seeing some initial movement towards incorporating non-price data into pricing decisions,” the researchers say.
“Our study provides empirical evidence to support the significance of the interplay between reviews and prices, and shows that this might change by consumer segment and review content.”
You can find out more about the study here.
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Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.
Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.
Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.