Revenue Hub

MAY 9, 2024

Let’s talk about something revolutionary, yet as ancient as commerce itself: value-based pricing. It’s time to ditch the old-school, cost-plus mentality and hello to a pricing strategy that actually makes sense for your independent hotels. Why It Barely Works The fundamental flaw of cost-plus pricing is its inward focus.

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Hotelogix

NOVEMBER 13, 2023

Pricing strategies in the hotel industry is one topic that will forever be discussed by hoteliers the world over. After all, there is no magic mantra that is universally approved for hotels to achieve their goals and increase hotel Revenue! What is Hotel Room Pricing Strategy?

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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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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

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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Hotel Owner

JANUARY 11, 2024

The Atholl Hotel in Aberdeen has reduced its asking price from £3.5m to “better reflect” the market. Co-owners Gordon Sinclair and Richard Nicoll first marketed the 34-bedroom property in June last year. The hotel’s totalised net turnover for the year ended 30th November 2022 was £2.07m. down to £3.2m

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Revenue Hub

FEBRUARY 20, 2024

Unfortunately, a universal hotel Revenue Management approach that suits every property doesn’t exist, but there are certain strategies that work better than others, especially as a smaller independent hotel. Below is a non-exhaustive list of some established room pricing strategies that may prove useful: 1.

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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. That is why we talk about rate integrity.

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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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SiteMinder

MAY 28, 2023

Berlin, Germany – A new analysis by SiteMinder, the world’s leading open hotel commerce platform, highlights the degree to which small German accommodation providers have increased their room rates over the past four years. For more insights on the German accommodation sector, see SiteMinder’s Hotel Booking Trends report.

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Revenue Hub

JULY 27, 2023

Hotel management is multi-faceted, and each decision carries significant weight. 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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eHotelier

JANUARY 24, 2024

How can you capture demand when your hotel is no longer the hot new thing on the market? How can you compete with newer properties and their aggressive sales and marketing tactics?

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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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Revenue Hub

MARCH 18, 2024

Discount pricing is a strategy in which you offer your hotel rooms at a lower price to draw guests, boost demand, increase sales volume, or decrease perishable inventory. This pricing strategy can be applied temporarily for promotional purposes or over an extended period to help position your hotel.

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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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STAAH

MAY 7, 2024

Before you realize it, the upcoming peak season will be here, presenting an opportunity to maximize your hotel’s occupancy with satisfied guests. 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.

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Hotel Owner

JULY 28, 2023

The Gaskell Arms Hotel and Restaurant, situated in Much Wenlock, has been brought to market at the revised price of offers in excess of £750,000. The hotel has been our family’s lifetime work but it’s now time for a change of ownership and we look forward to finding the next custodians to take the business forward.”

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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

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. This means adjusting rates frequently in response to shifts in demand for rooms.

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Hotel Owner

JUNE 16, 2023

Welsh family-run seaside hotel, The Lion, has been brought to market for the first time since 1978 for a reduced asking price of £1.8m. The hotel is located in the heart of Criccieth, Gwynedd, just a short walk from the town’s main beachfront. The hotel increased business year-on-year for over 40 years.

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Revenue Hub

JULY 26, 2023

The sale of an overnight hotel stay is a perishable product. Subscribe to our weekly newsletter and stay up to date This ability to flex room prices gives hoteliers a significant advantage they do not have in other areas of their business. You can’t increase the price of the beer every other day.

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SiteMinder

OCTOBER 10, 2023

What is hotel price monitoring? Hotel price monitoring is a crucial practice that involves tracking the prices of hotel rooms, both within your own portfolio and across competitors. Table of contents Why is hotel price monitoring important for hotels?

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InnQuest

JULY 10, 2023

Wondering how to map out the perfect hotel market segmentation strategy that keeps your hospitality business ahead of the curve? As markets continue to prioritize brands that cater to individual preferences the best, every business’s success depends on how well it offers personalized experiences to end-users.

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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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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

SEPTEMBER 25, 2023

Talk to any hotel operator about empty rooms, and you’ll likely hear about price sensitivity. What if the relentless focus on price is causing more harm than good? If you think you know all there is to know about price sensitivity, prepare to think again.

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Revenue Hub

SEPTEMBER 27, 2023

Hi, welcome to one of our Expert Insight discussions This is part 2 of 2 episodes looking at the importance of controlling your Hotel pricing and, more importantly, the impacts of not controlling it.

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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?

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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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InnQuest

JUNE 13, 2023

When it comes to running a hotel, a well-executed marketing campaign can make all the difference. In this blog post, we will explore the key strategies and tactics for creating a successful hotel marketing campaign that captivates your target audience and delivers tangible results.

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Hospitality Net

MAY 31, 2023

A new analysis by SiteMinder, the world’s leading open hotel commerce platform, highlights the degree to which small German accommodation providers have increased their room rates over the past four years.

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Hotel Business

FEBRUARY 1, 2024

According to the 2024 State of the Meetings Industry report from Knowland and ConferenceDirect , pricing continues to be an issue with 47% of meeting planners. Improvements in staffing and technology have enabled hotels to respond faster,” said Jeff Bzdawka, CEO, Knowland. AI plays an increasing role in the meetings industry.

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STAAH

DECEMBER 12, 2023

Here are 8 smart pricing strategies for hotels to boost revenue and drive more bookings during the holiday season The holiday season marks a period of increased travel, festive cheer, and heightened demand in the hospitality industry. Let’s explore some tips to maximize your hotel’s profitability during this festive period.

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Revenue Hub

SEPTEMBER 21, 2023

Hi, welcome to one of our Expert Insight discussions This is part 1 of 2 episodes looking at the importance of controlling your Hotel pricing and, more importantly, the impacts of not controlling it.

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Hotel Owner

JANUARY 18, 2024

Three hotels part of Daish’s Group portfolio of properties are currently being marketed by Savills. The assets include the freehold of Barrowfield Hotel, Newquay, the freehold of County Hotel, Kendal and the freehold of Daish’s Blackpool. The hotel also benefits from an indoor swimming pool, sauna and games room.

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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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