MEWS

MARCH 5, 2024

What is cost-based pricing? Cost-based pricing lets hoteliers set prices for rooms, services and amenities based on how much they cost their hotel, and then add a profit margin. What are the real hotel housekeeping cleaning costs per room?

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Boutique Hotel News

JUNE 16, 2023

UK: The four-star Lion Hotel , located in Criccieth, Gwynedd in North Wales, is up for sale at a reduced price of £1,800,000 marketed by business property adviser Christie & Co. The Lion Hotel is set in an 18th century building which has been refurbished to offer 34 bedrooms and six self-catering apartments.

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Revenue Hub

MARCH 15, 2024

Overall, the arrival of Swift is positive for pricing in every hotel market we look at, although the level of variation from destination to destination can be quite extreme, for reasons we will discuss later. We can see that the effect on hotel room pricing in some cities is staggering.

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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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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

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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Hospitality Net

OCTOBER 20, 2023

Hotel price monitoring is a crucial practice that involves tracking the prices of hotel rooms, both within your own portfolio and across competitors. This data-driven approach enables you to make informed pricing decisions, ensuring you remain competitive in the market while maximising revenue.

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Revenue Hub

MARCH 15, 2024

Hoteliers and revenue managers rely on effective hotel price monitoring to optimize revenue and maximize profitability. By understanding market trends, demand patterns, and competitor pricing strategies, hoteliers can adjust their pricing strategies in real time to attract more guests and maintain a competitive edge in the industry.

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Revenue Hub

APRIL 8, 2024

In the hotel industry, the traditional race to offer the best rates has often overshadowed the importance of guest experience and value. This decision, far from being linear or price-driven, culminates in a complex evaluation process where many factors play into the final choice.

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Soft Inn

JULY 10, 2023

Try googling the largest hotel chain in the world and see what pops up. Take a look at what you can learn from Marriott's pricing strategy. It's a guarantee that Marriot International takes the cake. Being so successful must come from a solid strategy, right?

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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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Revenue Hub

FEBRUARY 23, 2024

and Hyatt Hotels Corp. are among a group of hotel chain operators accused of inflating the cost of luxury hotel rooms with help from a price-setting database. Other defendants named in the suit include Inter-Continental Hotels Corp., Other defendants named in the suit include Inter-Continental Hotels Corp.,

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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

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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Hotel Management Network

APRIL 24, 2024

Groupon, an e-commerce marketplace, has announced a partnership with SiteMinder, a software platform that enhances the revenue potential of hotels. The post Groupon and SiteMinder partner to improve hotel pricing appeared first on Hotel Management Network.

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Revenue Hub

JANUARY 17, 2024

Subscribe to our weekly newsletter and stay up to date Hotels in Spain, like their global counterparts, faced an uphill battle during the peak of the pandemic, grappling with closures, plummeting occupancy rates, and financial uncertainties. Will there be a correction in which the price decreases?

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Hotel Owner

JANUARY 11, 2024

The Atholl Hotel in Aberdeen has reduced its asking price from £3.5m The hotel’s totalised net turnover for the year ended 30th November 2022 was £2.07m. The hotel’s totalised net turnover for the year ended 30th November 2022 was £2.07m. down to £3.2m to “better reflect” the market.

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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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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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Pricing Guest Satisfaction Article Marketing 101

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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SiteMinder

OCTOBER 18, 2023

What is competitor based pricing? Competitor-based pricing or competition-based pricing is a data-driven approach where businesses use advanced analytics to set their prices based on competitors’ rates. But it’s not just about matching or undercutting competitors’ prices.

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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

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

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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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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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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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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Hospitality Net

NOVEMBER 17, 2023

Competitor-based pricing or competition-based pricing is a data-driven approach where businesses use advanced analytics to set their prices based on competitors’ rates. In the hotel industry, this involves leveraging sophisticated pricing algorithms and software to monitor, in real-time, the room rates of comparable hotels.

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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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Duetto Cloud

DECEMBER 20, 2023

Mid-scale and limited-service hotels find Open Pricing advantageous as it enhances efficiency and aligns seamlessly with the operational and resource limitations inherent in such establishments.

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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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Hotel Owner

SEPTEMBER 8, 2023

Stockport’s Wycliffe Hotel has been sold to new owners off a guide price of £950,000. The Wycliffe Hotel, comprises 14 en-suite letting bedrooms, a lounge bar with seating for 30, a separate restaurant with 80 Covers, and the Piazza function Suite with a capacity of 32 for private dinners, parties, conferences and functions.

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Revfine

APRIL 19, 2024

Group business is an undeniably important piece of the revenue puzzle for hotels. To achieve an ideal mix of group and transient business, hotels must undergo a detailed evaluation process—one that can be greatly aided with an advanced revenue management system. However, not all group revenue is equally valuable or desirable.

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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 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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