Tour and vacation packages price formation is one of the most important business decisions every tour provider has to make.
If you set the right tour price, it’s the key to profitable business.
But if you set the price too high or too low it will, at best, limit travel company’s growth. At worst, it could cause severe difficulties for sales revenue and cash flow.
So, the questions here are:
- Do you know how much it will cost you to introduce new tours or vacation packages?
- How to calculate the cost price of your tours?
Many tour providers don’t really know how to calculate their cost price and undercharge for their tours.
Whether you came up with a new tour and you don’t have the price yet, or you are just starting a travel company—don’t rush the process of price formation.
Perhaps the most frequent error with introducing a new tour and vacation package or starting a travel company is either undercharging or overpricing.
To help you solve the pricing challenge, we did a little research and gathered all the useful stuff in one place and voilà! Here’s the pricing guide made especially for tour providers and travel industry professionals.
It will guide you through six essential steps in tour and vacation packages price formation and key factors in travel company’s price formation.
If not already, in pricing guide we made for tour providers, you will get more information on dynamic pricing model in tourism attractions. Download the guide and learn what it is and how to boost your sales with it.
Let us know how you have set your prices. We are very interested in how tour providers deal with competitive pricing.
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