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In regards to the first part of your forum thread, our local paper calls the retaining prices as 'sticky prices'. Most of the prices went up due to higher fuel costs but even though the oil prices are down, the cost of those goods in the stores were manufactured or grown and purchased during the higher price times so reducing prices now causes a loss.Raising rates at your B&B is a different story...but a sticky one as well. It should be based on many factors including current & projected occupancy levels and ave. rates of your 'competitors' along with comparison of amenities, and costs associated with business. In a brief look at your site (lovely I might add) and others near you, I do not see why a 5-10% increase would hurt you but given that your slow season is coming, I would wait until spring. After making the increase you may even give a discount to a stay of 2 or more nights. (you may already offer this I did not go in depth in your site).Good luck!
In regards to the first part of your forum thread, our local paper calls the retaining prices as 'sticky prices'. Most of the prices went up due to higher fuel costs but even though the oil prices are down, the cost of those goods in the stores were manufactured or grown and purchased during the higher price times so reducing prices now causes a loss.
Raising rates at your B&B is a different story...but a sticky one as well. It should be based on many factors including current & projected occupancy levels and ave. rates of your 'competitors' along with comparison of amenities, and costs associated with business.
In a brief look at your site (lovely I might add) and others near you, I do not see why a 5-10% increase would hurt you but given that your slow season is coming, I would wait until spring. After making the increase you may even give a discount to a stay of 2 or more nights. (you may already offer this I did not go in depth in your site).
Good luck!
