In a down economy, many hotels in Myrtle Beach and beyond have been slashing rates to lure customers. But a study released last week says price-cutting doesn't pay.
Although hotels that dropped prices saw an increase in occupancy, that increase was not enough to offset revenue losses caused by the lower rates, according to a study released by The Center for Hospitality Research at Cornell University. In general, the study said keeping prices above the competition is best for the bottom line
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http://www.thesunnews.com/business/story/967176.html
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