Study finds hotel-goers getting good value
David Wilkening, Travel Mole, 4/5/2007
How much of a value do hotel-goers get? It's apparently seldom been quantified before, but PricewaterhouseCoopers now has an answer: quite a bit.
In the past decade, value received by customers has averaged about 86% at full-service hotels and 72% at limited service places, according to a new study.
The study was based on the cost of providing hotel products and services compared to the amounts paid by guests.
Good value is considered to be 50%, the survey says, which means the customer receives at least 50% more in value than the amount paid
PricewaterhouseCoopers estimated the percentage value received by customers by estimating the ratio of "outputs" received by customers from the hotel in the form of cost of services to "inputs," which are the amounts paid for hotel services.
In the same study, PricewaterhouseCoopers finds that amenities and services like communication and security have now become critical success factors for all hotels, regardless of the level of service, price or location.
"The purchasing power, effective real estate use, efficient use of employees, economies of scale and specialization of services create excellent value for consumers," said Bjorn Hanson, Ph.D., a principal in the Hospitality & Leisure practice of PricewaterhouseCoopers.
PricewaterhouseCoopers research and analysis was based on Smith Travel Research data.
PricewaterhouseCoopers provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders.