How Whiskey Properties Grew Revenue 2.25x with Pricepoint

REVENUE MANAGEMENT

Whiskey Properties, a family-run group of boutique hotels and cabins on the Mississippi Gulf Coast, used to set rates by following one nearby competitor and reviewing them once a month. After moving to Pricepoint in 2021, the owner audited years of his own books and found revenue at Hotel Whiskey in Pass Christian was running 2.25x higher than before.

Why it matters: Owner Michael Craven set out to prove the results were smaller than they looked, and proved himself wrong. For independent operators in small markets with few true competitors, it shows what changes when rates follow your own demand instead of a neighbour's prices.

Pricepoint is automated revenue management that adjusts room rates every day based on each property's own demand. Michael sets the strategy (how aggressive to be and how to position each property) and Pricepoint carries it out across three Hotel Whiskey locations and Whiskey On The River, a cabin retreat with no comparable rentals nearby to benchmark against.

Top 3 Core Objectives: Whiskey Properties wanted to stop copying a competitor's rates and price each property on its own demand, without adding manual work for a small family team.

Price on own demand: Stop pegging rates to a nearby 150-room branded hotel and set prices based on each property's own demand, including for a cabin retreat with no comparable set to benchmark against.
Update rates continuously: Replace a once-a-month manual rate review with pricing that adjusts continuously as demand shifts.
Keep strategy in-house: Let the owner decide how aggressive to be and how to position each property, while the software handles day-to-day execution.

Innovators Mentioned

Whiskey Properties

Pricepoint

Michael Craven

Owner

Whiskey Properties

""We've been using Pricepoint long enough to know that if we increase prices manually, we'll see a drop in occupancy that would more than affect our revenue negatively. It's really quite comforting to have that kind of confidence in the software.""

Michael Craven

Owner

👍 Owner Michael Craven said that Years of results have given the owner enough confidence in Pricepoint's rates that he no longer overrides them by hand.:

""We've been using Pricepoint long enough to know that if we increase prices manually, we'll see a drop in occupancy that would more than affect our revenue negatively. It's really quite comforting to have that kind of confidence in the software.""

⚖️ The selection process: During their research process, Michael Craven evaluated Pricepoint's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that Pricepoint was the best fit solution:

Owner Michael Craven said, about their decision: ""Onboarding was really quick and easy. It doesn't get any easier than that.""

📈 The results: Revenue at Hotel Whiskey in Pass Christian has run 2.25x higher since the switch to Pricepoint, according to the owner's own multi-year audit.

2.25x revenue at Hotel Whiskey, Pass Christian, comparing four to five years on Pricepoint with one to two years before it
+33.6% room revenue and +24.1% ADR at Hotel Whiskey, Pass Christian, between its first and third years on Pricepoint (2021 to 2023)
Whiskey On The River had almost all its units booked for the rest of October 2022 within its first week of operation