In this episode of The Halo Effect, Ashleigh and Michael Donald explore the world of dynamic pricing within the hospitality industry. They take listeners through the evolution from fixed pricing to modern, technology-driven strategies influenced by supply and demand.

Ashleigh and Michael break down the difference between dynamic pricing and surge pricing, using examples like the Oasis ticket controversy, which stirred backlash due to a lack of transparency, compared to Taylor Swift’s consistent pricing strategy that upheld fan loyalty and trust. Since recording the episode, Oasis have announced that they won’t be using dynamic pricing for their US tour. The conversation underscores why transparency is crucial when implementing dynamic pricing and how it can benefit both businesses and consumers.

They discuss the pros and cons of dynamic pricing, such as optimising revenue for hotels and providing value for guests. Michael and Ashleigh also dive into the ethical considerations of this strategy, debating the balance between short-term gains and long-term reputation. Finally, they look towards the future of pricing in hospitality, including personalised pricing and the need for greater consumer protection.

If you’re interested in how the hospitality industry can master pricing strategies to improve both business success and consumer satisfaction, this episode is for you!

Key Topics:

• Evolution of Dynamic Pricing in Hospitality

• Differences Between Dynamic and Surge Pricing

• Case Studies: Oasis vs. Taylor Swift’s Pricing Approaches

• The Importance of Transparency and Trust

• Future Trends: Personalized and Ethical Pricing Strategies

Tune in to stay informed and ahead in the dynamic world of hospitality!

Connect with Us:

• Email: ⁠⁠podcast@gohalo.co.uk

• Website:⁠⁠ www.gohalo.co.uk⁠⁠

• Instagram: ⁠⁠@haloitsmichael⁠⁠ and ⁠⁠@haloitsashleigh⁠⁠

• LinkedIn: ⁠⁠Halo Business Consulting⁠⁠

Don’t forget to like, subscribe, or follow “The Halo Effect: Hospitality Stories with Ashleigh and Michael Donald” on your preferred podcast platform. Please get in touch if you would like to see us discuss a particular subject on a future episode.

We would love to invite fellow hospitality professionals and entrepreneurs to join us on future episodes so please DM us via socials or email podcast@gohalo.co.uk if you are interested