The United Kingdom and the Management of the Hotel Chain - Assignment Example

The statistical analysis done were the t-tests and the ANOVAs to find out whether the p-value is less than 0.05 which will mean there is a significant difference between the observations(price) based on locality or other variables and if p-value is greater than 0.05 such observed difference will not be considered significant(Warne,2012). Further regression analysis was done to find out how the variables are related to the pricing and how they influence price (Wessa, 2014). The sign convention of the coefficients in the equation will indicate whether the particular variable positively or negatively correlates with pricing strategy.

The above regression is a significant regression equation as the p-value is less than 0.05 and all the relationships have happened significantly and there is no chance of the observation of the regression equation that might have happened due to chance. It reflects that star ratings, review score ratings, provision of fitness centers and preference of hotel location do influence room rent in a positive way which means as the ratings and provisions increase pricing will also increase. However, it is also noted that the price of a room is negatively related to Wi-Fi charged.

This means if the Wi-Fi facility is charged room rent will decrease. Since none of the properties from where data was collected had swimming pools it cannot arrive at a conclusion whether the swimming pool affects pricing options. The pricing option for the management should consider on star ratings, locality, the importance of review score, providing amenities and if amenities like Wi-Fi are charged they should keep the room rent lesser to competitors who do not charge Wi-Fi in their hotel rooms.