SiteMinder
OCTOBER 18, 2023
What is value added pricing? 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? Read on to find out.
Revenue Hub
JULY 24, 2023
When used strategically, your data can unlock hidden opportunities and make more informed decisions for budgeting, cost optimisation, marketing, and forecasting – all aspects of which determine the value and profitability of your venue space. This can assist in determining appropriate pricing strategies.
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Revenue Hub
JUNE 22, 2023
LodgIQ can factor in hundreds of variables at any given time, ranging from sales patterns and customer footfall to external information such as weather, current events, and public holidays. This data aggregation scope is simply impossible for hotels relying on legacy pricing strategies. For more information, visit the LodgIQ website.
Hotelogix
OCTOBER 19, 2023
By doing so, you can make informed strategic decisions. To get a clear picture of your hotel compset analysis, you need to start with the following steps: Define your goals for competition, such as attracting more guests or increasing prices for greater revenue, or improving services compared to competitors.
Revenue Hub
NOVEMBER 9, 2022
This article discusses the three most important strategies hotel revenue managers must use to boost revenue and how a revenue management system (RMS) is being used to forecast demand and automatically perform dynamic pricing. Dynamic pricing. For this reason, it is sometimes referred to as time-based pricing. Key takeaways.
Les Roches
JANUARY 25, 2024
In the digital age, data can be the source of actionable insights, empowering businesses to make informed decisions that can shape lucrative strategies and create growth. But what purpose does this raw information serve? Revenue management Data analysis can significantly transform revenue management within the hospitality sector.
SiteMinder
OCTOBER 5, 2023
Data-driven insights : With tools like Rev+ for revenue management and competitive set analysis, hotel owners can make informed decisions to optimise rates and stay ahead of the competition. This will involve providing detailed information about your hotel, so come prepared with a full profile.
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