Spring is a key revenue period, and now is the ideal time to analyze early booking data and optimize your pricing strategy.
NB: This is an article from Smartpricing, one of our Expert Partners
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Getting started early gives you the time to fix potential issues, promote special packages, and create targeted offers, making your property more attractive to travelers.
But how do you move from theory to practice? Which data should you focus on? And how can you adjust your strategy this far in advance?
Keep reading to find out how to set up your data analysis and see a practical example of how to optimize your strategy for spring.
What to analyze to prepare for spring bookings
Here are the key steps you can take right now:
1. Analyze early booking data and compare it to past performance
Start by examining guest behavior: Which dates are generating the most interest? Which booking channels are performing best?
Next, compare this data to your historical records. This approach is essential for identifying what worked (and didn’t work) in previous years, giving you a baseline and helping you set realistic goals. It also allows you to establish “starting prices” for each room type for the spring season.
The best way to conduct this analysis is by creating an occupancy curve – a graph that tracks historical bookings and lets you quickly compare year-over-year occupancy rates.
Want to learn how to build your occupancy curve? Check out our guide on using the booking window to increase hotel reservations.
2. Continuously adjust your pricing strategy
Setting initial prices is just the first step. These prices shouldn’t remain static—what you decide today likely won’t hold in a few months. That’s why it’s critical to monitor booking trends and market fluctuations regularly, adapting your prices dynamically.
For example: Let’s say, in January, your occupancy rate for April is 15% for standard rooms and 5% for suites. If these figures align with last year’s performance and your goals, you can stay in observation mode.
However, if bookings are slower than last year, you can plan a gradual price increase as reservations pick up.
Additionally, you can pair these adjustments with special early-booking offers, such as including breakfast or wellness treatments at no extra charge.
