How to Improve Your Hotel's Pricing Strategy
In the last four decades, the hotel sector has thrived. The new online players in the booking process, emerging OTAs (Online Travel Agencies) and the constant change in travel behavior and search habits have created a highly competitive market. Hence, it’s crucial to price hotel rooms accurately to generate enough revenue to survive in the market, in the medium - and long-term. It’s essential to establish a sound pricing strategy that incorporates technology into the decision making process, to ensure your hotel’s optimal occupancy and the most profitable guests.What’s Inside
- Revenue Management: What Is It, History, and Basic Concepts
- Factors Affecting Total Hotel Demand
- Why Use a Revenue Management System?
- What Is Needed to Implement a Proper Revenue Management Strategy?
- Future Hotel Revenue Management Trends