Dynamic Pricing in Hotels: How AI is Changing the Game
In the competitive world of hospitality, pricing rooms correctly can mean the difference between maximizing revenue and leaving money on the table. Traditional static pricing models are no longer enough today’s hotels need dynamic pricing powered by Artificial Intelligence (AI) to stay ahead.
Strategic Priorities for Hotel Commercial Leaders Amid the New Tourism Boom
Tourism and hospitality are experiencing a significant rebound and transformation in 2024. The return of travel demand is being shaped by four major forces: proximity-driven travel (domestic and intraregional), a more personalized and diverse traveler base, a surge in luxury and experiential travel (especially in Asia), and destination readiness to handle increasing volumes and expectations.
Summary: McKinsey – What AI Means for Travel Now and in the Future
The McKinsey report highlights how artificial intelligence (AI), especially generative AI, is beginning to reshape the travel industry. From personalized customer experiences to operational efficiency, AI has the potential to dramatically improve how travel businesses interact with customers and manage backend logistics.