How do I determine lodging rates for a hotel?

[King Belieal]

Hotels could be very lucrative businesses. But one factor that must be considered in running a hotel is the rates for lodging. It could determine how much a hotel gets patronage.

What are the factors that should be used to determine the lodging price for a hotel?

 

[Kross]

You would have to consider the facilities available in the hotel and the location to fix a price for a night lodging.

 

[eLdavis]

I think the rates should be determined by what each room has, the size of the bed itself, and even the size of the room.

 

[Augusta]

You need to analyze the pricing strategies of your competitors I e other hotels in the same area with similar features to ensure you are competitively priced.

 

[Min George]

You need to look at the monthly costs of running the hotel and fix a price that would run it and give profits to the owner.