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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Pricing Events Book Guest Retention 83

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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Pricing Article 71

eZee Absolute

SEPTEMBER 11, 2023

Dynamic Pricing Strategies was his magic trick!! Well, I have had some idea about dynamic pricing but I couldn’t let him go without knowing his secret. Let’s start with the basic question— Table of Content What is Dynamic Pricing? How Can Hotels Use Dynamic Pricing?

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Revenue Hub

MAY 22, 2023

Dynamic Pricing Strategy in Hotels, Airlines practice it. Should hotels be an exception, then? 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.

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Pricing Book Article Events 72

SiteMinder

OCTOBER 15, 2023

What is hotel dynamic pricing? Dynamic pricing is a pricing strategy for hotels that involves changing room rates daily, or even within the day based on real-time market conditions. This pricing option is well suited in today’s market and is one many hoteliers opt to use.

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Pricing Definition Book Marketing 59

STAAH

NOVEMBER 26, 2023

The boutique New Zealand property – The Convent Hotel in Auckland changed its pricing strategy to be based on more real-time market conditions and customer demand. About The Convent The Convent Hotel in Auckland’s central suburb of Grey Lynn was once a community for nuns.

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Duetto Cloud

NOVEMBER 16, 2023

Boutique and independent hotels embrace Duetto’s Open Pricing to drive efficient revenue management through a dynamic pricing strategy. Duetto’s user-friendly system enables them to balance strategy and control with the flexibility to develop more complex revenue avenues when the opportunity arises.

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Pricing 59

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. Here’s the breakdown.

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Pricing Book Events Article 52

Duetto Cloud

OCTOBER 19, 2023

By implementing Duetto’s Open Pricing methodology, full-service hotels can maximize their profits and remain competitive in the industry by dynamically adjusting room rates based on real-time demand and market conditions.

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Pricing Marketing 59

Hospitality Net

MAY 25, 2023

One component is "dynamic pricing." You’re familiar with this model when considering your rack rate vs. your bottom prices. Those bottom prices may not cover much more than your costs, but they impact your rack rate months away when you can see higher profits. You’ll see below how this works.

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Pricing 93

eHotelier

NOVEMBER 26, 2023

The boutique New Zealand property – The Convent Hotel in Auckland changed its pricing strategy to be based on more real-time market conditions and customer demand.

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Pricing Marketing 130

eHotelier

APRIL 10, 2023

Hotels can effectively grow revenue today through applying revenue management strategies to the practice of upselling. By analysing guest data, using dynamic pricing strategies, leveraging pricing psychology, personalizing offers, and providing staff with the right tools and training, hotels can improve overall business performance.

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Pricing Training 299

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.

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Pricing Book Accounting Marketing 79

InnQuest

SEPTEMBER 5, 2023

At a glance: What is Hotel Inventory Management? Managing your hotel’s inventory efficiently can significantly impact your bottom line, guest satisfaction and overall operational effectiveness. Firstly, What is Hotel Inventory Management? These are managed as inventory and must be scheduled and priced accordingly.

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Guest Satisfaction Maintenance Pricing Book 218

InnQuest

OCTOBER 17, 2023

This is why our guide discusses how to avoid overbooking in hotels. As is known, overbooking can be a delicate issue for hotels, as it causes disgruntled guests who are unable to check into their rooms. Hotel Overbooking: Concerning or Not? Hotel overbookings are concerning but not uncommon in the industry.

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Reservations Guest Satisfaction Book Pricing 221

Revenue Hub

MARCH 22, 2024

In the contemporary landscape of hospitality industry, data-driven decision-making has emerged as a pivotal tool for maximising profitability and elevating guest satisfaction in hotels. By analysing past bookings, website interactions, feedback, and demographic information, hotels can gain invaluable insights for informed decision making.

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Pricing Guest Satisfaction Information Book 94

InnQuest

APRIL 5, 2023

Anyone who has worked in the hospitality industry for a few years would enthusiastically attest to the importance of yield management in hotels, particularly in hotel revenue management. Furthermore, we will provide examples of successful yield management strategies and offer tips on how to implement them in your hotel.

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Pricing Book Blog Marketing 220

InnQuest

AUGUST 8, 2023

Pricing plays a crucial role in determining the success of any business. When it comes to hotel businesses, one must continuously strive to achieve a balance between the customer experience and pricing. Hotels follow different pricing strategies to get there and seasonal pricing remains one of the most important.

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Pricing Guest Satisfaction Blog Budgeting 220

STAAH

APRIL 23, 2024

Let’s delve into some of the key trends shaping the future of revenue management in the hotel industry: 1. Using technology like cloud platforms and integrated systems like STAAH Channel Manager improves revenue management efficiency , helping with pricing, inventory, and distribution processes to increase profits.

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Revenue Hub

FEBRUARY 5, 2024

Open pricing is a hotel pricing and room distribution strategy that sells rooms at a rate that will both benefit the customer and provide the highest possible profit for the hotel at the same time. How does open pricing work? Open pricing offers more flexibility than the popular BAR strategy used by most hotels.

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Pricing Article Book Marketing 92

Hotel Owner

APRIL 19, 2024

According to SiteMinder’s Hotel Booking Trends, the average lead time for UK hotel bookings grew by 7% in 2023, when compared with 2022, and by 12% when compared with 2019. Bishop said: “Undoubtedly, more travellers than ever before are framing their trips around major events, and hotels are adapting to keep pace. year-on-year.

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STAAH

APRIL 16, 2024

To help you navigate this decision-making process, let’s explore the essential features to consider when selecting an RMS for your hotel. Dynamic Pricing: A dynamic pricing is the backbone of any effective RMS. Scalability and Flexibility: As your hotel grows, so should your RMS.

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Workflow Management Pricing Training Book 79

Revenue Hub

APRIL 25, 2024

Below you will find brief introductions and links to 5 case studies which can help hoteliers looking to optimize revenue, develop sophisticated pricing strategies, refine revenue management strategies, streamline operations, or seize opportunities in times traditionally considered off-peak.

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Download Pricing Article Marketing 85

Revenue Hub

FEBRUARY 21, 2024

In the dynamic world of hospitality, the UK market stands out as a beacon of innovation and adaptation, particularly in the realm of hotel revenue management. Hotels are increasingly employing sophisticated tools to analyse vast amounts of data, from booking patterns to guest preferences.

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Guest Satisfaction Pricing Article Book 88

Hotelogix

APRIL 22, 2024

Harnessing hotel data is essential for navigating the modern hospitality landscape, enhancing operational efficiency, and tailoring marketing efforts to meet guest preferences better. Let's explore the insights and strategies for transforming your hotel's data into a robust growth and customer satisfaction tool.

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InnQuest

SEPTEMBER 12, 2023

From the moment a guest walks through the doors until their departure, every aspect of their stay is carefully curated through the lenses of hotel operating systems and the adept oversight of a hotel operations manager. Human Resource Management: Managing the hotel’s workforce is essential.

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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 happens to guest satisfaction after hotels start implementing RoomPriceGenie?

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Pricing Guest Satisfaction Article Marketing 100

InnQuest

APRIL 3, 2023

As the hospitality industry evolves after the pandemic, it’s more important than ever for hotels to streamline their day-to-day operations to improve efficiency, enhance the guest experience, and increase revenue. Here are some ways to streamline operational tasks for your hotel.

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Revenue Hub

JANUARY 9, 2024

In the world of hotel revenue management, change is the only constant. It’s like trying to fit a square peg into a round hole in today’s dynamic market. While pushing rates higher might seem like a good idea, it sometimes priced your property out of the market, causing potential guests to look elsewhere.

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Pricing Article Marketing Book 95

Revenue Hub

FEBRUARY 8, 2024

Subscribe to our weekly newsletter and stay up to date Kris, Nick and Marco also look at the evolving nature of the hotel industry, the challenges faced by traditional revenue managers, and the potential impact of new entrants and changing guest expectations.

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Pricing Marketing 94

InnQuest

OCTOBER 24, 2023

In today’s fast-paced hospitality industry, selecting the right reservation system is crucial for the success of your hotel. Understanding the impact of your hotel reservation system on your business is key. This agility can be a significant advantage in responding to market dynamics and changes in demand.

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Revenue Hub

FEBRUARY 14, 2024

In the bustling urban landscape, city hotels are in a constant race to maintain high occupancy rates. This article is designed to provide hotel managers with proven strategies to boost their hotel’s occupancy and revenue, ensuring they remain a preferred choice for both leisure and business travelers.

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STAAH

APRIL 2, 2024

Effective revenue management provides hoteliers with a clear roadmap for pricing and optimisation, while acting as a gauge to measure success. What is a Revenue Management Solution for Hotels? What is a Revenue Management Solution for Hotels? Here are some reasons why a modern hotelier must include it in their hotel tech stack.

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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.

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Pricing Article Book Marketing 88

SiteMinder

APRIL 22, 2024

(GRPN), a marketplace where customers discover new experiences and services every day, has today joined forces with SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels. Beyond simplifying pricing and distribution, it extends their reach, providing the flexibility needed in a dynamic 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. The success or failure of price optimisation often depends on how the strategy is specifically implemented at an individual property.

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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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Pricing Book Catering Article 97