The major purposes of the empirical study are to investigate the price determinants in the lodging industry (i.e., hotel class, hotel operation, location, size, age, and seasonality) and to examine how these price determinants affect financial performance of the hotel. A quantitative method was used in this study, with 6,732 valid observations collected and analyzed. The findings suggested that hotel class, hotel operation, location, size, and seasonality are significant factors determining hotels’ average daily rate (ADR) and revenue per available room (RevPAR). The results have both theoretical and practical contributions. They not only broaden the existing lodging research but can also help hotel managers better understand pricing determinants.