Revenue Hub

APRIL 24, 2024

Efficient hotel pricing strategy is a must-have for today’s hoteliers to increase their overall profitability. Hotel revenue managers should understand various aspects including distribution mix, demand forecast, competition pricing and consumers’ buying trends, etc. to manage pricing more effectively and to increase hotel profit.

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Revenue Hub

DECEMBER 12, 2023

In a hospitality industry marked by fierce competition and evolving consumer preferences, dynamic pricing has emerged as an indispensable strategy for success. This nuanced pricing approach, characterized by its responsiveness to market dynamics, plays a crucial role in enhancing key performance indicators (KPIs) for hotels.

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Revenue Hub

MARCH 11, 2024

Cost-based pricing is the easiest and most financially secure way of determining prices. NB: This is an article from Mews Subscribe to our weekly newsletter and stay up to date A cost-plus strategy puts a profit margin on top of your prices, which should be your go-to strategy during times of regular demand.

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Revenue Hub

FEBRUARY 20, 2024

NB: This is an article from Lighthouse (formerly OTA Insight) Subscribe to our weekly newsletter and stay up to date Your property should have a tailored pricing strategy that fits its unique needs, but there are common industry practices that can be honed to compliment your business and improve performance.

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Revenue Hub

JULY 27, 2023

NB: This is an article from Demand Calendar One of the most pivotal decisions is setting the right price policy for hotel rooms. A hotel’s pricing strategy can be the difference between empty rooms and a bustling, thriving business.

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Revenue Hub

DECEMBER 15, 2023

For hotels, this time offers a golden opportunity to implement effective pricing strategies that not only cater to the surge in guests but also optimize revenue generation. Dynamic Pricing Model Implementing a dynamic pricing model allows hotels to adjust rates based on demand fluctuations.

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Revenue Hub

APRIL 4, 2024

After a series of lawsuits, newly expressed interest in a case by the DOJ and FTC could signal more scrutiny over alleged hotel pricing collusion. Department of Justice is ramping up its scrutiny of how algorithmic price-fixing impacts consumers across multiple verticals, including the hotel industry.

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Revenue Hub

OCTOBER 9, 2023

Pricing is a critical element of a hotel’s revenue management strategy. NB: This is an article from Agilysys The right pricing approach can help hotels optimize profitability, attract the right customer segments, and maximize return on margins. Each segment has distinct needs, booking behaviors, and willingness to pay.

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Revenue Hub

NOVEMBER 1, 2023

Value-added pricing, also known as value-based pricing, is a pricing strategy in which a hotel sets its prices based on what a customer believes the value of a room or service to be. But what is value based pricing in hotels specifically? Why should hotels implement a value added pricing strategy?

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Revenue Hub

OCTOBER 3, 2023

ZHAW School of Management and Law, based in Winterthur, Switzerland, conducted a study of 37 hotels that implemented dynamic pricing in 2021 and 2022, evaluating the effectiveness and impact of the RoomPriceGenie revenue management system. What are the internal effects on competencies after starting with dynamic pricing?

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Revenue Hub

JANUARY 17, 2024

NB: This is an article from BEONx , one of our Expert Partners During the last few years, a unique and powerful phenomenon has occurred in this industry market: we have been witnesses of a swing similar to that of a pendulum, not only recovering from the challenging situation of the COVID-19 pandemic, but surpassing unexpected limits.

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Revenue Hub

OCTOBER 19, 2023

Using CompSets is fine for benchmarking but not for making pricing decisions. NB: This is an article from Flyr for Hospitality (formerly Pace Revenue), one of our Expert Partners In an age of increasing online bookings, hotel revenue managers too often get caught up in maintaining parity with their CompSet. It’s arbitrary, at best.

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Revenue Hub

NOVEMBER 15, 2023

In the good old days, hotel room pricing used to be simple. NB: This is an article from RoomPriceGenie , one of our Expert Partners Hotels set rates by season and rarely changed unless the World Cup or Superbowl was coming to town. Dynamic Pricing is Smart Business It’s a fast-paced world out there.

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Revenue Hub

OCTOBER 10, 2023

NB: This is an article from BEONx , one of our Expert Partners When it comes to maximizing revenue and occupancy rates, dynamic pricing strategies have taken a quantum leap forward. This comprehensive guide not only demystifies dynamic pricing but also showcases innovative approaches to elevate your hotel’s performance.

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Revenue Hub

APRIL 29, 2024

NB: This is an article from WebRezPro Subscribe to our weekly newsletter and stay up to date Many travelers research destinations and lodgings on their phone before opening their computer to book. Your marketing presence has to be not only mobile friendly , it has to be mobile savvy to attract guests and stay on top of the competition.

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Lodging Magazine

NOVEMBER 30, 2023

Look for the second article next month, offering advice on the conversion process. The third installment will focus on development and guest service trends in the leisure market. We speak with J&P Asset Management about best practices and trends in the extended-stay segment.

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Revenue Hub

FEBRUARY 16, 2024

NB: This is an article from eZee Absolute Subscribe to our weekly newsletter and stay up to date Metasearch engines, such as Google Hotel Ads, TripAdvisor, and Trivago act as central hubs where potential guests can effortlessly compare prices, read reviews, and make informed decisions – all in one place.

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Revenue Hub

MAY 3, 2024

In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. Sources predict that hotels’ pricing power will remain strong. Why do we do this? Our demand dried up.

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Revfine

JANUARY 27, 2024

In the hospitality industry, strategic revenue management allows hotels to achieve consistent profitability, no matter how the market changes. In revenue management, your goal is to fill rooms and maximize profitability on each booking in peak and off-peak seasons.

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Revenue Hub

SEPTEMBER 25, 2023

Talk to any hotel operator about empty rooms, and you’ll likely hear about price sensitivity. NB: This is an article from Demand Calendar It’s the go-to explanation, the default setting, and the universal scapegoat for low occupancy rates. What if the relentless focus on price is causing more harm than good?

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Revenue Hub

JULY 4, 2023

NB: This is an article from WebRezPro But as inflation and high flight prices persist, the revenge travel surge may start to wane. As the cost of living continues to rise, so will travelers’ price sensitivity. How can you maintain (and even grow) ADR and occupancy in a softening market?

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Revenue Hub

JUNE 27, 2023

When hotels implement dynamic pricing, they are constantly adjusting their room rates based on mathematical algorithms aimed to increase occupancy based on area demand. They use market research to better understand their customers and what they are looking for. What are the pros and cons of dynamic pricing?

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Revenue Hub

SEPTEMBER 12, 2023

Dynamic pricing is like a flexible price tag for products or services that can change depending on different factors. NB: This is an article from eZee Absolute Think of it as a “smart” price that goes up or down based on what’s happening at the moment. You might notice that the price isn’t the same all the time.

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Revenue Hub

FEBRUARY 1, 2023

We have a long history and exceptional pedigree in intelligent pricing automation, initially in digital advertising and then in hotels. And now we are providing pricing automation to the live entertainment industry. Charging the optimal price at all times is a huge benefit for our clients.

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Revenue Hub

JULY 26, 2023

NB: This is an article from Global Asset Solutions Unlike other products that can be stored and sold later, the prices of hotel room nights often fluctuate based on supply and demand, with prices typically rising during peak seasons or when major events are happening and falling during slower periods.

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Revenue Hub

JANUARY 30, 2024

A commercial strategy platform uses data from revenue, sales and marketing to identify the correlating data trends to provide insight relevant to each discipline. Revenue, sales, and marketing have their own departmental goals that determine how they are evaluated. They want marketing to spend more during times of low demand.

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Revenue Hub

MAY 23, 2023

In this article, we will explore how technology is transforming the way hoteliers do business. With this information, hoteliers can make more informed decisions about pricing, inventory, and marketing strategies. The hotel industry has been significantly impacted by technological advancements over the past few years.

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STAAH

MAY 7, 2024

In this regard, having a solid marketing mix in place is crucial. Dynamic pricing strategies Adjusting your room rates based on the season can help you cater to fluctuating demand. This flexibility allows you to meet guests’ expectations while ensuring your prices remain competitive in today’s digital market.

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Revenue Hub

APRIL 15, 2024

B2B hotel marketing focuses on building relationships with other businesses, such as travel agencies, corporate clients, and event organizers, differing fundamentally from B2C marketing’s target on individual consumers. These clients seek value, reliability, and a partner that understands their complex travel and lodging requirements.

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Revenue Hub

MARCH 22, 2024

Unfortunately, there is not a one-size-fits-all approach to marketing for hotels, and the days of dumping dollars into a single channel are long gone. Marketers must meet travelers where they shop—and in today’s digitally-dependent landscape, this means everywhere.

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Revenue Hub

MAY 12, 2023

As we step into 2023, the hospitality industry is still reeling from the effects of the pandemic – which makes implementing hotel pricing strategies more important than ever. NB: This is an article from innQuest With travel restrictions lifted, hotels are gearing up to welcome guests again.

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Revenue Hub

OCTOBER 4, 2023

In the quest to maximize your hotel’s revenue, two buzzwords often come up: Revenue Management and Price Optimization. NB: This is an article from Topline Revenue , one of our Expert Partners While they may sound similar, grasping the nuances between these two concepts is pivotal for success in the hospitality industry.

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Revenue Hub

NOVEMBER 30, 2022

NB: This is an article from Revenue Management Labs. This is where price segmentation comes in. One of the first uses of price segmentation was in the airline industry during the early 1980s. Over the years, variable pricing has become almost exclusively automated, and many additional features have been introduced.

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Revenue Hub

JANUARY 11, 2024

There’s no shortage of ways to market your hotel. NB: This is an article from WebRezPro But for busy hoteliers with mounting priorities and limited resources, how do you get to them all? With so many marketing channels and blogs with bright ideas, it can get confusing about which shiny new marketing trend you should hop on board with.

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Revenue Hub

MARCH 3, 2023

Hotel prices in key American leisure destinations soar, while hoteliers in markets more reliant on business travel and long-distance international tourism are facing tougher times. Average lowest actualised hotel room price for US cities – 2019 versus 2022 We are not alone in this analysis.

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Revenue Hub

OCTOBER 20, 2023

As publishers have enhanced their callout and extension features to improve the user experience and provide additional exposure for advertisers, Tripadvisor is introducing Enhanced Marketing Text in the metasearch auction. In this article, we will cover everything you need to know about this new feature. US+Desktop, CA+Mobile, etc).

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Revenue Hub

NOVEMBER 21, 2023

The answer lies in the art and science of market segmentation. NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date Market segmentation, a cornerstone of hotel management, categorizes guests into distinct groups based on various characteristics and behaviors.

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