University of West Florida
PRICE SENSITIVITY OF CUSTOMERS IN LUXURIOUS HOTELS IN U.S.
The purpose of the paper is to explore sensitivity of the customers to the prices of luxurious hotels in the United States. This study has applied demand elasticity to the analysis of luxurious hotel rooms in the U.S. Through the use of econometric methods, the study has built and tested a model for the long term estimate of demand elasticity for specific hotels. Findings indicate that luxury hotel management can change prices without losing target markets due to the price inelasticity of their customers’ demand.
Keywords: ADR, Elasticity, Luxurious Hotel
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