Browsing by Author "Bento, Carla"
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- Analysis of the importance and value of price in the demand of a tourism destinationPublication . Bento, Carla; Jiménez Caballero, José Luis; Almeida, PauloTourism sector companies use Revenue Management practices, namely dynamic pricing techniques to address issues such as seasonality, fixed inventory or perishability. Customers are aware of these practices and look for the best Value for Money they can get in their purchases. The concept of value has a quite relevant dimension. And the price is not only perceived as a number, a negative factor or resource consuming, it is many times a sign that advises customers on quality and value and, for this reason, absolute price is one of the most important attributes in value perception (Ceylana et al., 2014) and price perception. Literature has focused largely on the management side of pricing strategy, specifically on Revenue Management practices. In what concerns customers literature has focused its attention on the acceptation of those practices, price fairness, and the attributes and less on how the price itself is perceived, how expectation is affected and how it affects choice and purchase decisions, that is on price perception. It is fundamental to understand how consumers perceive prices and what factors influence those perceptions. How do prices influence demand? How do consumers judge destination prices when making choices? How does that judgement affect their buying intentions? Methodology: a theoretical framework will be developed relating the variables of price, Revenue Management, service, perceived value, e-WOM and purchase behaviour, that will allow an investigation on how Lisbon tourists evaluate price. Results may help companies, namely hotels, to improve their pricing and positioning strategies, keeping themselves competitive and profitable, and keeping customers happy. This investigation is still in an early and exploratory stage; therefore, this communication will present the first approach to the theme.
- Factors Influencing Hotel Revenue Management in Times of Crisis: Towards Financial SustainabilityPublication . Lima Santos, Luís; Gomes, Conceição; Malheiros, Cátia; Crespo, Catarina; Bento, Carla(1) Background: Facing the challenges of a post-pandemic period and the Ukraine War and recognising the gap in scientific research on the application of revenue management (RM) in the Portuguese hotel industry, the main objective of this study is to identify the most effective and least appropriate RM practices for use in periods of low demand and crises, reflecting the financial sustainability perspective. The theoretical framework of this study focuses on the main RM practices, grouping them into price and non-price strategies. (2) Methods: A quantitative methodology was employed, collecting information from Portuguese hotels through an online questionnaire, and statistical analysis using Mann–Whitney and Chi-square tests was conducted. (3) Results: Hotels offered discounts during the pandemic, but room rates were reduced during the recovery period. These findings also revealed that commonly used techniques were the best available rate (BAR) and rate fences, particularly during the pandemic. Quality, brand image, strategic partnerships, and marketing actions are recognised as essential. However, loyalty programs, length of stay (LOS) control, rate parity, and bundled services are not commonly implemented despite their importance during periods of low demand. Larger hotels, five-star hotels, and members of international chains applied more RM practices than smaller four-star independent hotels. (4) Originality: This study provides original and valuable insights into increasing hotel revenues and occupancy rates during future periods of low demand, which benefit financial sustainability.
- Manual de boas práticas e sustentabilidade no turismoPublication . Almeida, Paulo; Eurico, Sofia; Almeida, Sérgio; Oliveira, Fernanda; Jorge, João Paulo; Ramos, Dulcineia; Oliveira, Verónica; Simões, Ana Raquel; Borges, Patrícia; Malheiros, Cátia; Caetano, Marta; Amorim, Daniela; Viana, Ana Sofia; Coelho, Júlio; Sousa, Ana Elisa; Lourenço, Paulo; Rafael, Célia; Almeida, Nuno; Fonseca, Júlia; Schön, Michael; Martins, Rui; Dias, Francisco; Cardoso, Lucília; Mendes, Alexandra; Bento, Carla; Elias-Almeida, Anabela; Varela, Luciana; Varela, Jorge; Santos, Luís Lima; Gomes, Conceição; Brasão, Inês; Baptista, Pedro
- The impact of the web summit on hotel performance: the case of LisbonPublication . Bento, Carla; Jiménez Caballero, José Luís; Almeida, PauloDynamic pricing is a response to fluctuations in demand for a product or service making it possible for hospitality companies to have a better performance. Demand generators such as events have a heavy impact in hospitality performance because they create demand that otherwise would not occur. Portugal has seen an exponential growth in tourism in the past years and major events play an important role in investment decisions, both private and governmental. The Web Summit is an annual technology event held in November. Lisbon has been the chosen city for the past three years, 2019 making it the fourth. Literature has focused its attention mostly on the impact of cultural or sports events, such as the Olympics, revealing positive long-term impacts on performance. It is fundamental to understand what the exact impact of these type of events – business fairs – have in the local economy in order to justify investments. Methodology: daily data collected from STR allow for a comparative study between hotel performance before and after the Web Summit. We compare the 3 years prior to the event and the last three years of the event, taking place in Lisbon. The sample size is 63 hospitality companies that range from Economy to Upper Midscale Class and data of ARD, RevPAR and Occupancy. Results show that on the dates of the event ADR and RevPAR increase 115% and occupancy 21% when compared to the previous year. However, on the third year of the event, 2018, these numbers do not see the same increase and remain somewhat similar to the previous year, 2017. This shows that there is major impact on hotel performance justifying the interest governments and other tourism agencies have in attracting these types of events.