How to Build an Effective Pricing Strategy

Created in Collaboration with

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This white paper gives actionable advice how to plan and develop the most effective room pricing strategies. It provides evergreen guiding principles, and explains, step by step, how to: • Identify and track the main growth drivers for your business • Collective competitive market data to inform your strategy • Explore the best ways to reach out to more guests and work effectively with Online Travel Agencies • Understand when and to what extent you should increase or reduce your rates • Use promotional tools to influence behavior and gain competitive advantages • Avoid common mistakes and use automation to avoid time-consuming tasks and manual effort

What You'll learn

  • Get Your Metrics Right
  • Understand Your Competition
  • Understand What’s Going On in Your Area
  • Understand How Best to Reach Your Prospective Guests
  • Optimize Your Pricing Strategy
  • Taking It to the Next Level: Dynamic Pricing and Automation
  • Common Mistakes You Can Avoid

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