pricing

U.S. weekly performance was strong, but operators say it could be even better, but they are having to forgo occupancy due to ongoing labor shortages

By recording the booking data in the manner outlined, we have the constant temperature of the marketing activities from a Revenue Management perspective

We should produce enhanced financial statements with just a little more detail added that will greatly assist you in effectively managing your hotel

Revenue managers will need a new skill set, built on analytical thinking and cognitive flexibility, to maintain effectiveness of decision-making

Be aware of your competitors’ rates, but at the same time, believe in your pricing and have confidence in what you are selling

When projecting a point in time in the future and trying to anticipate demand, it can seem like making decisions based simply on experience or intuition

Once strategies are set, the system will execute these. You can return to the RMS either to apply new strategies or to check existing ones are delivering

In 2022, we forecast the majority of temporarily closed hotels will likely have reopened and demand growth will continue to improve as economy strengthens

These are some basic ways to get a feeling for Continuous Pricing concepts but only by embracing the four elements can you expect the best results

In order to define, or even redefine, your hotel’s competitive set, here are some do’s and don’ts to help ensure a strong, competitive recovery ahead