pricing

Some of the most effective pricing strategies can be grouped into two categories: dynamic pricing and promotional techniques

Price skimming involves setting a high initial price with the understanding it may not attract maximum number of guests but generates significant revenue

Maximizing profitability in the hotel industry requires more than a broad understanding of revenue management; it demands a strategic, step-by-step approach

Given the unpredictability of the current market, it’s key that hotels update their pricing based on the current supply and demand on a regular basis

The difference between a revenue manager and a revenue sleuth is more than just their focus; it’s their approach to maximizing value

Average rate index (ARI) is a metric that hoteliers can evaluate performance of their room rates relative to a group of competitors during a specific period

Regularly reviewing and updating your comp set will ensure your benchmarking remains relevant and you continue to capture a larger market share

Dynamic revenue optimization is the practice of adjusting prices in real-time based on demand, market trends, and various other factors

Should revenue managers interact heavily with an AI RMS or trust automation? What is the impact of overrides on revenue?

Complying with this legislation is crucial for hotels to avoid penalties and maintain a competitive edge. To make it easy, here’s a comprehensive overview