Dr. Eric Dolansky- Goodman School of Business at Brock University: “Consumers are happier about price increases when they know they’re coming and why they’re happening.”
For years, hotels and airlines, car rental agencies and energy companies have been using a phenomena known as dynamic pricing to set costs for their consumers. This real-time pricing results in fluctuations depending on a variety of factors, but is often associated with supply and demand – and it is becoming more and more prevalent in the sports world.
This economic practice has been studied by Dr. Eric Dolansky, an assistant professor at the Goodman School of Business at Brock University. Specifically, Dr. Dolansky has examined sequences of pricing and the effect it has on consumer habits. While many consumers grumble about dynamic pricing causing hikes in gas prices, that in part has to do with the unpredictability of the increases.
The situation with sports tickets is a bit different in the minds of consumers, argues Professor Dolansky. This type of dynamic pricing is tied to demand, so consumers expect the prices to increase as the nature of the competition increases, or the date of the event nears and the supply of available tickets dwindles. For example, seats in Section 121 at the Air Canada Centre on October 17 for a Toronto Maple Leafs game against the Carolina Hurricanes range from $193 to $223. But in the same section for the Leafs’ October 26 game versus the Pittsburgh Penguins, tickets range from $253 to $288.
It’s not a new idea- from wanderstories.com: “In Roman times, the tickets were known as tessara – small clay discs, which were stamped with details of the locus, or seat number, gradus or row number, cuneus, or sector and entrance gate. For example: LOC X, meaning seat number 10, GRAD V – row number 5, CVN III – sector number 3. Tickets were free, but everyone had to have a ticket to attend. Tickets were distributed to organizations, institutions and groups, who in turn, distributed them to the Roman citizens. As the games were popular, there was also a black market, where tickets would be sold, with high prices for some of the most important games.”
Evidence Professor Dolansky has studied suggests when consumers are aware prices are going to rise from a particular point, and they have a basic understanding of the events that are driving the increase, they tend to believe it is more fair. For the Silo, Stephen Murdoch
Supplemental- Conference keynote presentations by Dr. Dolansky
Clemente, S., Dolansky, E., Mantonakis, A. and White, K. The Effects of Perceived Product-Association Incongruity on Consumption Experiences – Academy of Wine Business Research Conference, Niagara, Ontario, June, 2013.
Clemente, S., Dolansky, E., Mantonakis, A. and White, K. The Effects of Perceived Product-Association Incongruity on Consumption Experiences – Society for Consumer Psychology, Las Vegas, Nevada, February, 2012.
Clemente, S., Dolansky, E., Mantonakis, A. and White, K. The Effects of Perceived Product-Association Incongruity on Consumption Experiences – Association for Consumer Research, Vancouver, British Columbia, October, 2012.
Clemente, S., Dolansky, E., Mantonakis, A. and White, K. The Effects of Perceived Product-Association Incongruity on Consumption Experiences – Southern Ontario Behavioural Decision Research, Waterloo, Ontario, May, 2012.
Vacationers booking holidays through Canadian websites are being charged hundreds of dollars more than overseas customers for exactly the same deals, research commissioned by cybersecurity company NordVPN reveals.
From luxury breaks and hotel stays to car hire, consumers are frequently being presented with wildly different prices depending on where they log on.
Using the American website for Hotels.com resulted in a staggering $805.55 saving for a 7-night stay, while hiring a vehicle through the Italian server resulted in a quote 25% cheaper than the Canadian site.
NordVPN’s researchers used its Virtual Private Networks (VPNs) to make it look to websites like they were not in Canada. They discovered savings across a range of well-known travel sites like Hertz,Expedia, Booking.com and Sixt, for a variety of countries, including Italy, Mexico and the US.
What is a VPN? A VPN disguises your IP address, while improving privacy and security. You select a country and NordVPN ensures that’s where websites think you are. VPN users are then able to see the differing content — and prices — shown to overseas consumers.
Using a VPN, a 7-night stay this August at The Gates Hotel South Beach in Miami, Florida, through Hotels.com revealed a $805 price difference for a family of four. The Canadian website quoted $3,086 and the American site $2,280 — less than a sixth as much. Visiting the website from Italy netted a 22% saving on a 7-night family stay at Venice’s Antony Palace Hotel in August — $376 off the Canadian price of $1,732.
For those visiting the French Riviera, an exclusive 7-night stay in Hotel Casarose in August would cost 16% less using the French version of Hotels.com website, lowering the price from $4,363 to $3,656.
Fans of the UK royal family planning to stay near Kensington Palace could save 13% by using the English Booking.com site, reducing a week’s stay in August at the Twenty Nevern Square Hotel from $4,260 to $3,715.
Going to Booking.com from a French server led to a $1073 lower price on a 7-night vacation at the Hôtel Alfred Sommier in Paris in August — bringing the cost down to $8,922. Meanwhile, using an Italian server to search the Rentalcars.com website for car hire in Rome quarter (25%) cheaper than the same company’s offer to Canada-based consumers.
Browsing for more summer hotel deals using the Mexico website of Expedia uncovered a 22% saving for a week break in Cancun at El Taj Oceanfront & Beachside Condo Hotel, leaving bookers $614 better off.
Looking at car hire deals from Hertz through the UK’s website, you could bag a 23% saving — $345 — on a 7-day hire of a Polestar at Edinburgh Airport in August, bringing the price down from $1,482 to $1,137. Using Sixt to book a rental from the Nice Airport in August, this time with Sixt brought up a 13% discount of $92 for hiring a Peugeot 208 for 7 days, making the French server price $650 versus $742.
Also, Sixt quoted a price that was 16% lower for a Jeep Grand Cherokee in Orlando, Florida via the US website for July — charging $867, a saving of $164.
Visiting Sixt from France delivered the 11% discount, with a 7-day hire of a Tesla Model Y from Paris Charles de Gaulle Airport offered for $1038, $122 less than the Canadian website’s quote of $1160.
The research was commissioned by NordVPN and conducted by an external company between March 10th and 31st, 2023. Simultaneous searches were made for identical products being sold by the same vendor using numerous country servers.
When conducting the research, there were cases when prices offered to consumers in different countries were similar. However, for illustration purposes, this article and table present the biggest differences in price.
Table: Cost of items booked through Canadian versus local websites
7 night stay in the (5 star) Hôtel Alfred Sommier, Paris, France in a two connecting double room.
August 14-21
March 30
$9,996 (inclusive of additional taxes)
$8,922.68
$1,073.32
11%
Source: NordVPN
Marijus Briedis, Chief Technology Officer at NordVPN, said: “In the internet age it’s never been easier to hunt for a vacation, and you can have all the elements — from car hire to hotel stays — arranged at the click of a mouse.
“For the unsuspecting consumer there’s a price to be paid for these advances. Online tracking used by travel websites means that they can tell what holiday we’re looking for before we do, while algorithms can adjust holiday prices to the spending power of different countries.
“Never assume you’re getting the same deal as everyone else. Your location, the number of visits you pay to a website, and how your search fits in with the school holiday schedule, can all influence the price you’re offered.
“The best way to fight back is to shop around with the same provider using a VPN and see if you can find hidden savings offered to customers overseas. As our research shows, it could save you thousands of dollars a trip.”
How to save on holiday bookings with a VPN
There’s no need to overpay for a holiday abroad. Using a VPN can save you a lot of money – and it’s easy to get started.
Make sure you choose a reliable VPN provider that takes your privacy and security seriously. Though looking for a free option may be tempting, it’s best to stay clear of free VPNs. Here’s how to save on holiday bookings with a VPN:
Get a VPN subscription. If you’re interested in NordVPN, you’ll find our subscription plans here.
Launch the app and enter your credentials to sign in.
Pick a server in a country of your choice, and connect to it.
Head to the provider websites and note down the prices.
Repeat this process with several server locations to find the best price. We also recommend clearing your browser’s cache before returning to the site so it doesn’t identify you as a returning user and impact the price you’re shown.
Even though this process might take a little longer than you’re used to, you’re likely to find some great deals to make it worthwhile. This method will work for finding cheaper flights, hotels, car rentals, and even general online shopping.
While choosing popular cities to travel, the obvious choices are always Rome, Berlin, Barcelona and London, but how about those ‘alternative’ cities you may have never thought of or come across? That is where Munich, Germany comes in.
Nestled in the heart of Munich, Hotel Bayerischer Hof is one of Germany’s most historically important hotels, renowned for its timeless elegance and world-renowned design partnerships.
The aura of royalty is imminent as soon as one steps foot into the hotel. The property’s renowned collaboration with Belgian designer Axel Vervoordt, a global tastemaker, is designed with full picturesque and captivating minimalist interiors.
The unveiling of the art dealer, curator, designer, and antiquary Vervoordt’s latest revamp has transformed a section of the hotel into an artistic wonder– harmoniously mixing old and new, creating a design aesthetic that is hugely influential in Germany. He counts royalty within his clientele, with a nod to celebrities like Kanye West, Robert De Niro, and Calvin Klein.
Vervoordt’s collaboration with Hotel Bayerischer Hof is nothing short of incredible.
The Penthouse Garden Suite, Atelier, Garden restaurant, Cinema Lounge, and Palaishalle all bear the designer’s characteristic artistic touch. The new wing embodies a captivating minimalist design that is both modern and timeless in the same beat. Vervoordt’s talent helps the property keep in step with the ever-changing expectations of the hotel industry and attracts discerning guests who appreciate design that cleverly combines the present and the past.
Founded by female entrepreneur and owner Innegrit Volkhardt, who is dubbed “one of the most renowned hoteliers in the world,” her family has owned the Hotel Bayerischer Hof for over four generations, so the blood runs deep. The hotel recently celebrated 125 years of ownership. Volkhardt, a true Bavarian local, has immaculately maintained the hotel’s legacy while successfully integrating new design collaborations like that of Vervoordt.
Tucked away within the elegant shopping district, the hotel is near the city’s must-see attractions, including the Marienplatz, Viktualienmarkt, and the Hofbrauhaus, a fun and traditional beer house with live music (apparently it’s where the Nazis used to meet).
One can even say that you don’t need to leave the hotel, with a full service spa, a tiki bar underground, a glorious dome-shaped bar and networking area, a ballroom, and best of all, dinner at The Garden. The restaurant offers fan favorites like a goat cheese, fig and cottage cheese salad, as well as filet mignon with a side of spinach and potatoes. A sweet finish with a trio of sorbets to cleanse the palate and keep it light.
Hotel Bayerischer Hof boasts over 300 luxurious rooms and suites that capture its deep history, blending luxury with design.
The collaborative designs of Axel Vervoordt have played an immensely significant role in helping the hotel innovate and evolve without losing the essence that has made it a Bavarian favorite for 125 years. If you’re looking to indulge in an unforgettable experience, Hotel Bayerischer Hof is undoubtedly one of the best options in Munich. For The Silo, Ellie Ross.
Luxurious living, money and fame are things that spring to mind when thinking about hotels London. Many of them have stood the test of time and built a sterling reputation all over the world attracting many of the rich and famous.
Here we’ve compiled a list of the most renowned hotels in London.
Claridge’s, London
Claridge’s London- 5 Star Hotel. Address: 49 Brook St, London, Greater London W1K 4HR, United Kingdom
Opened in 1854 Claridges London is one of the oldest hotels in the city. Located in London’s infamous Mayfair, Its clientele are among the rich and famous with celebrities such as Brad Pitt and Mick Jagger no stranger to its doors. TV favorite Gordon Ramsay also had his own restaurant there for a time.
Its décor and facilities boast the best in fine dining and luxury living unrivalled in London and has over its long lifespan attracted royalty from all over the world. The hotel was also the feature of a 3 part documentary series for the BBC entitled ‘Inside Claridges’.
The Connaught, London
The Connaught London. Five star Hotel. Carlos Pl, London W1K 2AL, United Kingdom
Residing in Mayfair, the Connaught first opened its doors in 1815. The hotel allows both traditional British and contemporary design to co-exist by maintaining its Victorian exterior and completing a 70 million pound internal refurbishment by lead designer Guy Oliver.
This hotel and its staff have won many prestigious awards over its lifespan including its spa winning first prize in the spa category in the Hotel & Lodge Awards 2012 and it’s very own bartender Agostino Perrone winning International Bartender of the Year 2010.
Brown’s, London
Brown’s Hotel London. Five star Hotel. 33 Albemarle St, London W1S 4BP, United Kingdom
One of London’s most established hotels is Browns. Opening its doors in 1837, it celebrated its 175th anniversary in 2012 and has consistently attracted guests of wealth and fame, most notably President Theodore Roosevelt and Oscar Wilde.
Not only does this Mayfair hotel boast a stunning Victorian 5 star setting it is also within walking distance to some of London’s busiest attractions such as Hyde Park, Bond Street, Regent Street and some of its most famous landmarks.
The Great Northern Hotel
First opened in 1854, London’s Great Northern Hotel is “an exquisitely designed luxury boutique hotel with an extraordinary location, literally within King’s Cross Station and just 25 metres from the Eurostar terminus at St Pancras International.”
Dubbed as ‘The World’s First Great Railway Hotel’ , The Great Northern is a stunning boutique hotel with rail connections to Europe and beyond via the Eurostar. It stands tall above the areas surrounding buildings and it’s a significant point of interest for all arriving into Kings Cross St Pancras station.
Designed by infamous architect Lewis Cubitt stood as the centrepiece for the steam revolution.
The Berkeley
The Berkeley Hotel London is a five star Hotel. Wilton Pl, Knightsbridge, London SW1X 7RL, United Kingdom
The Berkeley is a five star deluxe hotel, located in Knightsbridge, London. Its history spans well over a 100 years and has even moved buildings. The infamous hotel began its life at Berkeley Street and served as accommodation for mail coach drivers travelling to the West Country.
In 1972 it moved to its current location, incorporating an entirely new refurbishment to include London’s only rooftop swimming pool. Aside from its unique facilities and décor the Berkleley has attracted numerous Michelin star chefs including Pierre Koffmann and more recently Gordon Ramsay and his Boxwood Café. For the Silo, Susan Varano.
