Efficient markets - Great for Customers, Tough on Business

Chip Conley, Joie de Vivre Hospitality

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During the economic downturn that followed the dot-com bust, there were many travel bargains to be found through new websites such as Expedia and Priceline.  In what is called an efficient market, customers had a flood of bargains at their fingertips.  Joie de Vivre Hotels was forced to lower room prices and pay commissions to these third-party websites.

May 19, 2008

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