Your menu pricing strategy is directly tied to your bottom line. You need to remove yourself from the day to day and take a fresh look at your menu pricing strategy from different angles.
Here are a few practical ways through which you can optimize your wholesale distribution strategy and ensure better control on the distribution as well as the pricing:
n a clear example that revenue and profit aren’t always aligned, RevPAR at mainland European hotels attained a high for the year in June, but GOPPAR fell.
Illustrating that revenue per available room and profit don’t always move lock and step, RevPAR at U.S. hotels in June declined year-over-year, but the drag did not bring down GOPPAR with it.
June was a banner month for UK hotels. Profit performance hit a peak for the year as the typically strong month was boosted by the Cricket World Cup, according to…
Hotels in the MENA region recorded a 6.4% year-on-year decline in profit per room in June, as the month of Ramadan mostly fell in May, and hotels in the region missed their usual demand bump.
At some point you’ll need to decide on a pricing strategy. How much should you charge for your rooms? When should you vary those rates, by how much – and for which guests?
One area that can be particularly tricky to weigh up when looking at the competition is length-of-stay discounting, a strategy that can help drive up occupancy during periods of low demand.