What is the meaning / definition of Static Pricing in the hospitality industry?
Static Pricing is when a hotel keeps exactly the same selling rate at all times, regardless of the occupancy, market trends and marketplace demand.
This is the opposite of dynamic pricing. Static pricing is considered an outaded practice in the industry as does not allow your hotel to actually have a pricing strategy and adapt its offer to demand and market trends in order to maximaze RevPar and GopPar.
- Static Pricing