Price policy of accommodation services as an important part of revenue management in the central Šumava mountains

Abstract

Price policy of accommodation services as an important part of revenue management in the central Šumava mountainsThe aim of this paper is, firstly to analyze the current state of price policy (as an important part of revenue management) implemented in accommodation facilities in the central Šumava mountains, and secondly to define the optimization measures leading to the maximization of the takings and the profit as the final result. Research at 58 accommodation facilities and 642 visitors of this part of the Šumava mountains was performed for these reasons. The research results bring important knowledge when more than a half of accommodation facilities do not implement an efficient price policy, not even in the basic form which means price differentiation. Related to this, other research was performed among the visitors of the Šumava mountains, which brought the basis for the takings optimization process. The paper also presents knowledge how to implement the complex price policy in accordance with the principles of revenue management in accommodation facilities not only in this part of the Czech Republic but after some modifications in other areas on the national and international level. The paper shows that the revenue management of accommodation facilities is a complicated process which is linked to the financial management of a business as well as marketing and micro-economic theory.