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Economic Analysis: Theory and Practice
 

Value for money for three-and four-star hotels in St. Petersburg

Vol. 14, Iss. 21, JUNE 2015

PDF  Article PDF Version

Available online: 11 June 2015

Subject Heading: ANALYSIS OF COMPETITIVE ABILITY

JEL Classification: 

Pages: 38-46

Chernysheva L.A. Saint Petersburg Institute of Television, Business and Design, St. Petersburg, Russian Federation
laracher@mail.ru

Yakimovich G.B. Saint Petersburg State University of Economics, St. Petersburg, Russian Federation
gal.bor.j@mail.ru

Importance A large share of the St. Petersburg hotel market belongs to three-and four-star hotels. The competition in this market segment is quite significant. Prices for rooms and service quality in such hotels are often on the same level. The quality-to-price ratio and the possibility to change either value are very important for successful hotel management.
     Objectives The aim of the paper is to review the hotel market of St. Petersburg, to develop a system to measure quality indicators of hotel services for determining an integral index of competitiveness of three-and four-star hotels in the case of the Oktiabrskaya Hotel in St. Petersburg, and to develop a numerical method to determine price delta depending on the integral index of competitiveness.
     Methods We used the external marketing analysis, a standard method of the systems analysis, i.e. the expert evaluation method, to assess major qualitative indicators of hotel services. Under the mathematical approach, namely, the calculation of the generalized criterion (by using criteria weights), we calculated integral factors of competitive position of major competitors of the Oktiabrskaya Hotel.
     Results We have shown that there is no direct dependence of the room rate on the value of the integral factor of competitiveness for three and four start hotels. The study presents a method to determine the price delta and the nature of its changes depending on the integral factor of competitiveness.
     Conclusions and Relevance The developed methods for integral factor of competitiveness evaluation and the method of price adjustment depending on the level of competitiveness of hotel service enable hotel managers to choose the most successful strategy of behavior in the hotel market.

Keywords: hotels, three-star, four-star, quality indicators, hotel services, integrated indicator, competitiveness, value for money

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