How to Build an Effective Pricing Strategy

Overview

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