Pricing Strategies

Who is this for?

This is for you if you want to understand more about pricing strategies and how they will affect your tourism & hospitality business sales and your profitability. You can consider these at start-up phase, when you are considering a new product or service or for your existing products or services.


There are many different pricing strategies to attract customers to your business and some of the main ones are detailed here. You may find that some will work better than others, depending on your own market and the stage your business is at. You may even find that you can use different strategies for different products or services and so a combination may work well for you.

Whatever you choose, make sure that you keep your pricing under regular (at least annual) review and that you ensure it continues to serve the purpose that you intended.

Which pricing strategy is right for you?

Each of the above strategies offers different upsides and downsides and which one you choose will depend on many different factors.

Whichever you choose, make sure that you are making sufficient profit to cover your costs and provides you with sufficient return for the time and effort that you put in to delivering it.

And for larger businesses that offer different products and services in different markets, you could consider developing a written Pricing Strategy or Policy that is based on what is appropriate for your business. This gives structure and clarity.

Useful Sources

Accommodation Pricing Template

Experience Pricing Template