Revenue Hub

FEBRUARY 15, 2024

It’s the price you charge for each room, and hoteliers often fret about setting it too high. In this blog post, we’ll delve deep into why you shouldn’t be afraid to push your room prices higher. The Price-Quality Paradox One of the surprising aspects of pricing is the price-quality paradox.

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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

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

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

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

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

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

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 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. We argue that it is not.

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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

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

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

OCTOBER 13, 2022

Seeing one price to then being presented with another one. NB: This is an article from Direct Your Bookings. I just came from Expedia at $100) Price ambiguity hits: let’s check Booking.com too. Read more articles from Direct Your Bookings. The post Price Ambiguity: Are Price Comparison Tools Harmful?

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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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Revfine

JANUARY 27, 2024

Strategic Pricing to Increase Your Hotel's Revenue This article will teach you proven tactics to supercharge The post Supercharge Your Hotel’s Revenue Using Strategic Pricing appeared first on Revfine.com.

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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. Keep reading for ideas… Value-added packages Attract price-sensitive guests by offering added value.

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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

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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Revfine

MAY 21, 2023

Revenue management underpins six different main types of hotel room pricing. Called dynamic pricing or “price tags,” this article illustrates these various pricing approaches. Quick menu: The post Hotel Dynamic Pricing Guide; An Essential Overview of All Price Tags appeared first on Revfine.com.

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Lodging Magazine

NOVEMBER 30, 2023

Look for the second article next month, offering advice on the conversion process. J&P Asset Management manages 109 hotels, about 85 percent of which are […] The post Succeeding in Extended Stay: Operational and Pricing Insights From a Specialist in the Sector appeared first on LODGING Magazine.

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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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Hospitality Net

AUGUST 23, 2023

In recent years, subscription-based pricing models have gained significant momentum across various industries. Transitioning from the traditional fee-for-service approach, this pricing strategy provides customers with unlimited access to a range of products and services for a predetermined fee.

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Revenue Hub

AUGUST 23, 2023

Price is a very significant yet sensitive topic for many travelers. NB: This is an article from Travel Media Group Receiving online guest reviews related to this subject is common, and these reviews need the utmost attention and consideration when writing a response to them.

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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

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. The success or failure of price optimisation often depends on how the strategy is specifically implemented at an individual property. 2. Offer competitive rates.

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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. Data analytics tools allow hoteliers to access real-time data on occupancy rates, demand trends, and competitor pricing.

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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

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

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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Revfine

JUNE 16, 2023

In this article, you’ll learn how successful hoteliers handle pricing strategies during the post-covid era, and how to deal with spillage, spoilage, overbooking, and overselling. Analyses showed that hotels with a solid revenue management strategy came out of the Covid-19 crisis better than hotels without.

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Revenue Hub

AUGUST 22, 2023

Dynamic pricing is vital for hotel success today, but only some operators can see beyond the guestroom when applying this technology. NB: This is an article from IDeaS Many factors impacting guestroom dynamic pricing, like seasonality and occupancy, also play a role when optimizing event revenue.

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Revenue Hub

NOVEMBER 3, 2023

NB: This is an article from Duetto Who hasn’t asked ChatGPT to formulate an email, sales pitch, or social media message, or just had fun asking it to write something in the tone of voice of Mickey Mouse? Understanding the Longer-Term Impacts of Taylor Swift This relationship between quality and price exists in the RMS today.

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Revenue Hub

MAY 22, 2023

Dynamic Pricing Strategy in Hotels, Airlines practice it. Subscribe to our weekly newsletter and stay up to date Dynamic pricing in the hotel Industry Thanks to sophisticated technology and the internet, the pricing operations of hotels have never been more efficient and profitable. Should hotels be an exception, then?

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Revenue Hub

SEPTEMBER 26, 2023

NB: This is an article from Smartpricing In the competitive landscape of the hospitality industry, understanding the true cost of a hotel room isn’t just beneficial − it’s pivotal. A precise calculation influences pricing strategies, ensures profitability, and strengthens the foundation of your business. Download here!

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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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Revfine

JANUARY 4, 2024

Open pricing is an increasingly important strategy for increasing hotel revenue. With open pricing, rates, and services can be pitched optimally to ensure maximum uptake without compromising quality. It allows hotels to target various customers across different budgets, maximizing revenue and raising occupation levels all year round.

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Revenue Hub

JUNE 13, 2023

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners One component is “dynamic pricing.” ” You’re familiar with this model when considering your rack rate vs. your bottom prices. First, consider your hotel has a pricing path. Bottom rate pricing does two things.

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