RoomPriceGenie Helps Madrid Properties Increase Revenue by 108% During Taylor Swift Concerts
By leveraging RoomPriceGenie’s high-quality pricing technology, these properties saw an average revenue increase of 108% during the high-demand period.
Get ready to “shake it off” because RoomPriceGenie, a leading provider of revenue management solutions for independent hoteliers, just helped three Madrid properties achieve a significant revenue boost during Taylor Swift’s concerts. By leveraging RoomPriceGenie’s high-quality pricing technology, these properties saw an average revenue increase of 108% during the high-demand period.
These properties had RoomPriceGenie’s autopilot feature switched on, meaning their pricing was optimized without manual intervention. RoomPriceGenie’s system worked quietly in the background, adjusting prices in real time to maximize both revenue and occupancy.
The dates we compared are May 28 to June 2. Here are their results:
160-Room Apartments & Short Stay Property
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Revenue Increase: 78% compared to the same dates in 2023
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May ADR Increase: From €69 in 2023 to €175 in 2024, a 153.62% increase
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In 5 days they covered the cost of RoomPriceGenie for the next 9 months
92-bed Hostel
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Revenue Increase: 120% compared to the same dates in 2023
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May ADR Increase: From €33 in 2023 to €92 in 2024, a 178.79% increase
50-bed Hostel
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Revenue Increase: 127% compared to the same dates in 2023
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May ADR Increase: From €22 in 2023 to €85 in 2024, a 286.36% increase
Without an automated revenue management system, hoteliers can easily miss out on these opportunities, when they are announced. By the time they realize what is happening, their rooms may already be sold at lower rates, resulting in lost revenue.
Recognizing this, RoomPriceGenie developed a solution to ensure hoteliers can capitalize on high-demand periods without constant manual monitoring: Surge Protection feature. It is designed to detect sudden increases in demand. This feature adjusts prices in real time and alerts hoteliers, allowing them to react swiftly and optimize their pricing strategy.
RoomPriceGenie’s revenue management solution has proven to be a game-changer for hoteliers, especially during high-demand periods. By optimizing prices and providing timely alerts, RoomPriceGenie helps properties maximize their revenue and occupancy, ensuring they capitalize on every opportunity.
