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While AI and natural language models like ChatGPT are still in their early stages, it’s already worth exploring the benefits they offer

Strategic use of competitive hotel rates in revenue management is a powerful tool to drive revenue growth and foster business development

If you do it right, a Cluster Revenue Manager, can help you manage costs, increase efficiency and boost revenue.  But it comes with its own set of challenges

Depending on your property, guest demographics and demand patterns in the market, stay restrictions can be a great way to boost your revenue

They had previously used a tiered pricing model so they would only modify ticket prices to predefined price points based on the number of tickets sold

Within the field of revenue management new AI-based solutions can provide live market intelligence, help hoteliers optimize and even price automation

Go through the following six points to see how you may be leaving revenue on the table and how you can easily turn things around

Guest booking behavior has shifted, and previously well-established travel patterns have been replaced by new, unfamiliar ones

There’s still time to make the most out of the revenge travel era and maximize your hotel’s occupancy and revenue with smart, proactive pricing

Make forward-looking demand signals, such as monitoring of booking behavior part of the data set that informs your pricing decisions