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In: Economics

. WHAT IS A LUXURY HOTEL? WHY DO THEY CHARGE A HIGHER PRICE THAN OTHER HOTELS?...

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WHAT IS A LUXURY HOTEL? WHY DO THEY CHARGE A HIGHER PRICE THAN OTHER HOTELS? WHY DO CUSTOMERS PAY THIS HIGHER PRICE? WHAT IS YOUR EXPERIENCE OF A LUXURY HOTEL? DISCUSS WITH REAL LIFE EXAMPLES

WRITE AN ESSAY OF 500 - 1000 IN YOUR WORDS COVERING ALL THESE QUESTIONS AND POST YOUR ANSWER DIRECTLY ON SCHOOLOGY, THANK YOU.

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Expert Solution

Luxury Hotel :- A Luxury Hotel is considered a hotel which provides a luxurious experience to the guest. There are no set standards (such as stars) for luxury hotels. Often 4 or 5 star hotels describe themselves as luxury. Here are some characteristics of a luxury hotel which are as follows : 1 - Allow an easy simple and intelligent planning and bookingprocess. 2 - Fast easy discreet Checkin & Checkout. 3 - The room offered is exact what a guest wanted (in terms of category classification physical location in the hotel bed size). 4 - Amazing service : Guests should get the feeling that they are known and valued. Your staff should be friendly and respectful. Housekeeping and gardeners should be quiet and not interfere with a guests enjoyment of the property and maintenance personnel should appear at guests room within minutes. 5 - Outstanding hotel dining: great breakfast (quality and quantity wise) 24 hours room service. 6 - Guest activities and amenities : High end spa treatments pool 24 hour fitness center laundry service unpacking and packing service babysitting petsitting dog walking personal trainer referrals. 7 - Uber exclusive designer interiors haute couture styling with fabulous artsy features and a state of the art technology. 8 - Luxury room features : High quality furnishings with opulent expensive touches attention to aesthetic detail a quiet room with fresh air original art on the walls windows that open robes and slippers adequate storage hangers desk reading chair. 9 - Luxury bathrooms : Tub for two his and hers sinks sufficient counter space good water pressure prestige or artisan toiletries plenty of fluffy high quality towels makeup mirror that lights. Luxury Hotel Charge Higher Price Than Other Hotels Because they know their customers will pay more. The type of people that are going to be staying at a luxury hotel are typically there on business which generally means that someone else is paying for it. If you are a business traveler who can stick your company with the bill you are hardly price sensitive at all. As many people are also staying at fancy hotels for pleasure because their wealth means they are not very price sensitive as compared with people living in budget hotels. For example: - A $20 fee on a $400 room is probably not a big deal when they are paying $400 for a room. People at budget hotels are definitely price sensitive. Managers have to keep thier some services free like wifi just to compete. Customers pay higher prices for luxury hotels because these hotels add value to the prices. They offer a different atmosphere service quality room sizes & gadgets well trained staff interactions with the guests etc. Some of the hotel chains have created luxury cultures and call them (Our standard) to stand tall among the rest and sell their products & services at those prices. So creating different class among the guests and serving at such high prices. At last it is not the extra luxury that creates guest experiences. One can still remember an experience in a 2 star hotel and not remember having stayed at a super luxury hotel. My experience about luxury hotels is quite good but sometimes i find that its a wastage of money if i am staying at luxury hotels just for pleasure rather than a business trip. For example : I stayed in a luxury hotel for a week with my friends during a trip to thailand and it cost me a huge amount of money in a very short period of time but when i stayed in luxury hotel on a business trip to dubai it doesn't cost me a buck because all the hotel charges was made by the company in which i work. So In my view if you prefer pleasure over money you should definitely go for luxury hotel but if you prefer to save money rather than pleasure you should go for a budget hotel.


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