TRANSFORMATION OF PRICING POLICY IN THE HOTEL, RESTAURANT, AND TOURISM INDUSTRY

Abstract

Modern development of the hotel, restaurant, and tourism industry is characterized by significant transformations in the market environment, which necessitate a revision of approaches to the formation of pricing policies for hospitality enterprises. The relevance of this study is determined by increasing competition, the growing role of digital technologies, changes in consumer behavior, and the impact of crisis factors, particularly military instability, which create a need for the implementation of flexible, adaptive, and innovative pricing strategies. Under such conditions, price serves not only as an economic category but also as an important strategic marketing tool that creates competitive advantages and ensures the sustainable operation of enterprises.

The purpose of this study is to develop a conceptual framework for the transformation of pricing policy in the hotel, restaurant, and tourism industry through the integration of classical pricing approaches with contemporary digital, behavioral, and sustainability-oriented strategies, as well as to propose adaptive pricing approaches for hospitality enterprises operating under conditions of market instability. The methodological basis of the research includes methods of system analysis, scientific generalization, and comparison, which made it possible to comprehensively assess the evolution of pricing approaches.

The study systematizes classical and modern pricing strategies, including cost-based, demand-oriented, dynamic, differentiated, and personalized approaches. The specific features of their application in the hospitality sector are identified, and the growing role of digital technologies, data analytics, and revenue management concepts in shaping effective pricing policies is substantiated. The authors propose original pricing approaches, including adaptive stability, emotional pricing, eco-conscious pricing, and AI-driven pricing strategies that address contemporary market challenges. In addition, a conceptual model of modern pricing strategy formation in the hospitality industry is developed, illustrating the influence of key external factors, including competition, digitalization, war-related risks, and inflation, on pricing decisions and their outcomes in terms of revenue growth, customer loyalty, competitive advantage, and sustainability.

The scientific novelty of the study lies in the development of an original conceptual framework for pricing policy transformation, the proposal of adaptive pricing strategies integrating digital technologies, behavioral economics, and sustainability principles, and the construction of a conceptual model explaining pricing decision-making under conditions of market instability.