First Principles Thinking in Hospitality
📈 In the hospitality industry, two common assumptions are flawed. First, pricing focuses on the room instead of the buyer, unlike airlines that price based on the individual buyer's willingness to pay. Second, the strategy of "being everywhere" on numerous channels is costly and inefficient, with commissions ranging 15-20%. Optimizing for maximum demand-market fit, targeting the right audience, and questioning existing assumptions can provide a competitive edge.
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