The Knowledge Center, which is the succesor to HSMAI's eConnect, is your source of insights to fuel sales, inspire marketing, and optimize revenue. Fueled by the HSMAI Foundation, here you will find articles, presentations, templates, multimedia, and much more from HSMAI and industry leaders. Many of the Knowledge Center resources are offered exclusively to HSMAI members.
The capitals of three neighbouring countries Berlin, Prague and Warsaw have a reputation for being affordable destinations. These cities are also home to a large number of international-standard luxury properties, so guests might wonder, 'where can I get the best value for money?' To answer this question, we analysed the characteristics of the luxury hotel markets in these cities. By examining the dynamics between supply and demand, we explore how occupancy and rates vary amongst the three markets, illustrating how luxury hotel rates compare to those of upscale hotels. From a guest's point of view, a luxury hotel is affordable and provides a good value proposition if the price difference to the upscale category justifies the superior quality and extra services. So getting value for money means happy guests, but what about the hoteliers? From their perspective, it's all about maximising rooms revenue per room (RevPAR) and bottom-line profits; thus, we provide an illustration of the RevPAR dynamics across the three markets.
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