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Pricing

8 Signals Your Hotel Pricing Needs Adjustment

2024-04-08T16:30:08+02:00

Recent studies reveal that prices perceived as unfair trigger discomfort in consumers, leading to reduced purchases, complaints, and negative reviews. Conversely, fair prices activate pleasure centers, enhancing customer satisfaction.[1] This underscores the importance of finding the sweet spot for your hotel's room prices: the perfect balance between attracting (happy) guests and maximizing revenue. Build a Foundation for Effective Hotel Pricing

8 Signals Your Hotel Pricing Needs Adjustment2024-04-08T16:30:08+02:00

10 Pricing Strategies to Increase Your Hotel Revenue

2024-04-08T11:32:17+02:00

Pricing Strategies in the Hotel Industry Pricing strategies in the hotel industry are methods used to set room rates based on various factors like demand, competition, and market trends. These strategies are crucial for maximizing revenue and ensuring a hotel's profitability. By adapting prices according to different circumstances and customer segments, hotels can optimize occupancy rates and enhance overall business

10 Pricing Strategies to Increase Your Hotel Revenue2024-04-08T11:32:17+02:00

Supercharge Your Hotel’s Revenue Using Strategic Pricing

2024-01-28T17:37:48+01:00

In the hospitality industry, strategic revenue management allows hotels to achieve consistent profitability, no matter how the market changes. In revenue management, your goal is to fill rooms and maximize profitability on each booking in peak and off-peak seasons. Strategic Pricing to Increase Your Hotel's Revenue This article will teach you proven tactics to supercharge your revenue using strategic revenue

Supercharge Your Hotel’s Revenue Using Strategic Pricing2024-01-28T17:37:48+01:00

Top 3 Hotel Rate Parity Issues and How to Fix Them

2024-04-10T17:00:52+02:00

Are you a hotelier struggling to maintain rate parity in today's ever-changing hospitality industry? If so, you're not alone. Despite the challenges of the last few years, rate parity remains a significant issue for hotels, and it's only getting more complicated. Top 3 Hotel Rate Parity Issues As a result of the pandemic, many hotels focused on generating short-term business

Top 3 Hotel Rate Parity Issues and How to Fix Them2024-04-10T17:00:52+02:00

9 Top Tips for Effective Pricing Strategies for Hotels & Resorts

2023-12-06T11:10:57+01:00

An effective, data-driven room pricing strategy is the cornerstone of hotel distribution management, with the ultimate goal of finding the ideal price per room that ensures you can maximize revenue without losing guests to competing properties. 9 Effective Strategies for Rate Pricing While overall rate optimization is the main objective, there are various ways to get there. In this article,

9 Top Tips for Effective Pricing Strategies for Hotels & Resorts2023-12-06T11:10:57+01:00

Hotel Room Types & Room Pricing Tips for Hoteliers

2024-04-22T12:26:36+02:00

Hotel Room Types Hotel room types refer to the various categories of guest rooms, such as standard, suite, and deluxe. They are important for catering to different preferences and budgets, ensuring comfort and satisfaction. Hotels can accommodate individual, family, or business needs by offering diverse options, enhancing the overall guest experience. Key Takeaways Studio Room: Combines bedroom and living area

Hotel Room Types & Room Pricing Tips for Hoteliers2024-04-22T12:26:36+02:00

How Successful Hoteliers Handle Pricing Strategies for The Recovery

2024-04-02T13:06:27+02:00

Analyses showed that hotels with a solid revenue management strategy came out of the Covid-19 crisis better than hotels without. In this article, you’ll learn how successful hoteliers handle pricing strategies during the post-covid era, and how to deal with spillage, spoilage, overbooking, and overselling. Quick menu: Hotels With a Solid RM Strategy Came Out of the Covid-19 Crisis Well

How Successful Hoteliers Handle Pricing Strategies for The Recovery2024-04-02T13:06:27+02:00

Hotel Dynamic Pricing Guide; An Essential Overview of All Price Tags

2023-12-06T12:41:32+01:00

Revenue management underpins six different main types of hotel room pricing. Called dynamic pricing or “price tags,” this article illustrates these various pricing approaches. As you adopt revenue management for your hotel, you’ll want to understand these concepts to interpret the phases of your property’s pricing path to maximize revenues or minimize damages. Quick menu: Hotel Dynamic Pricing Guide; Overview

Hotel Dynamic Pricing Guide; An Essential Overview of All Price Tags2023-12-06T12:41:32+01:00

How to Use Stay Restrictions in Hotel Revenue Management to Drive More Revenue

2023-12-06T13:00:00+01:00

Restricting your guests’ ability to book the stay dates they want may not sound like the best idea initially. But depending on your hotel, audience, and market situation, stay controls can be a vital revenue management tool. On top of driving reservations on slower days, they can increase revenue, reduce turnover and drive profitability. Read on below to discover more

How to Use Stay Restrictions in Hotel Revenue Management to Drive More Revenue2023-12-06T13:00:00+01:00

Tips for Calculating Demand and Price for Events without Historical Data

2023-12-06T13:04:36+01:00

Question for Our Revenue Management Expert Panel: How do you calculate demand and room price for unique events that are new to your area (e.g., major concerts, Olympic Games, World Cup, etc.) without having historical data to refer to? (Question by Massimiliano Terzulli)  Our Revenue Management Expert Panel Massimiliano Terzulli - Revenue Management

Tips for Calculating Demand and Price for Events without Historical Data2023-12-06T13:04:36+01:00

3 Steps to Fight Price Disparities on Your Hotel Website

2023-12-06T15:13:54+01:00

As travel comes back in full force, everyone is trying to claim their slice of the pie. So it’s no wonder you are running into price disparities between your hotel’s rates and those available on OTAs (online travel agencies) and metasearch engines. They’re inevitable, and as a savvy hotelier, you’ve got two options: accept them, or take action. In this

3 Steps to Fight Price Disparities on Your Hotel Website2023-12-06T15:13:54+01:00

How can Hotels Overcome Challenges around Rate Parity?

2023-12-06T15:22:44+01:00

Question for Our Revenue Management Expert Panel: Rate parity continues to pose challenges for hotel revenue managers. What are the top recommendations to resolve rate parity issues? (Question proposed by Tamie Matthews) Our Revenue Management Expert Panel Pablo Torres - Hotel Consultant, TSA Solutions Nikolas Hall - Owner, H. Hall Consulting Krunal Shah

How can Hotels Overcome Challenges around Rate Parity?2023-12-06T15:22:44+01:00

Pricing Personalization & the Future of Hospitality

2023-12-20T18:02:25+01:00

Pricing personalization allows hotels to move towards total profit optimization by combining the power of the guest profiles in your CRM with revenue management forecasting to deliver the right price to the right guest at the right time during the guest journey. Guests Have Increased Expectations for Personalization Personalization is an evolving topic within the hospitality industry, from technology and

Pricing Personalization & the Future of Hospitality2023-12-20T18:02:25+01:00

How to Maximize Hotel Revenue by Applying Open Pricing to Upselling

2023-12-06T15:24:02+01:00

You probably already know that adjusting your room rates based on demand fluctuations can boost your revenue. But have you ever thought of applying this approach to upselling? And what about taking things yet another step further and using the principles of open pricing on upselling as well? Keep reading to discover how these techniques can take your revenue strategy

How to Maximize Hotel Revenue by Applying Open Pricing to Upselling2023-12-06T15:24:02+01:00

How Often Should Hotels Update Their Pricing?

2023-12-06T15:29:16+01:00

Question for Our Revenue Management Expert Panel: Are Revenue Managers updating prices too frequently or not often enough? Both pose risks, especially for last minute sales. When is the best time to update prices? (Question proposed by Nikhil Roy)  Our Revenue Management Expert Panel Tanya Hadwick - Group Revenue & Yield Leader, SunSwept

How Often Should Hotels Update Their Pricing?2023-12-06T15:29:16+01:00

What Data is Most Valuable To Hotels When Forecasting?

2023-12-06T15:33:44+01:00

Question for Our Revenue Management Expert Panel: What information is most important to hotels when forecasting? What data should be prioritised by revenue management teams? (Question proposed by Daniel Feitosa) Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head Family Theresa Prins - Founder, Revenue Resolutions Daniel Feitosa

What Data is Most Valuable To Hotels When Forecasting?2023-12-06T15:33:44+01:00

Revenue Science Essentials: The 3 Pillars of Dynamic Pricing

2023-12-06T15:35:05+01:00

When applying revenue science to your hotel or resort’s dynamic pricing tactics, there are three areas ripe for optimization: demand, capacity, and price sensitivity. Taking the time to review the basics and reassess how each of these factors into your revenue strategy is critical to positioning your hospitality business for maximum revenue performance and growth. For the Right Price… One

Revenue Science Essentials: The 3 Pillars of Dynamic Pricing2023-12-06T15:35:05+01:00

Considerations When Setting Stay Extension Pricing

2023-12-06T15:47:39+01:00

Most revenue managers are well aware of the latest industry trend of monetizing the requests for early check-ins and late departures. Why is this activity now trending? Before the pandemic, generally, favorable market conditions made normalized stay extension offers operational challenges simply not worth the effort. However, owners and asset managers are now pressing the commercial teams to find 'recovery

Considerations When Setting Stay Extension Pricing2023-12-06T15:47:39+01:00
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