Open Pricing: Why Is It the Next Hotel Revenue Management Strategy
Open pricing is an increasingly important strategy for increasing hotel revenue. It allows hotels to target various customers across different budgets, maximizing revenue and raising occupation levels all year round. With open pricing, rates, and services can be pitched optimally to ensure maximum uptake without compromising quality. In this article, you'll learn how this pricing strategy can work for you. Table of Contents: What is the Open Pricing Model in Hotel Revenue Management? Best-Available-Rate (BAR) vs. Open Pricing 3 Benefits of Using Open Pricing for Hotels 1. Flexibility 2. Capture the Entire Revenue Opportunity 3. Price Different Room Types Independently
Considering a New Hospitality RMS? Watch Out for These 4 Myths
So, you’re thinking about upgrading to a more effective revenue management system (RMS) for your hospitality organization, but you have some doubts. Maybe you’re thinking: It’s too costly to install a different RM Learning a new system will take too much of my staff’s bandwidth My new system will take too long to learn how to price effectively It’s easier to stick with an RMS, I know. It’s “good enough.” However well-founded those concerns are,
4 Guest Messaging Trends Every Hotelier Should be Aware of
Traveler expectations are changing rapidly as digital and contactless forms of communication become more popular across the hospitality industry. Today's travelers expect to be able to check into their flights through mobile apps, buy train tickets online, and communicate with their accommodation providers through text. Read on to learn more about emerging trends related to guest messaging that are sure to change the industry as we know it. 4 Trends in Guest Messaging Below you
Let’s Get Digital: Creating a Smart Guest Journey for Your Hotel
Coronavirus threw a lot of well-established routines and best practices overboard without warning. Within only a few months, almost every aspect of hotel operations had to be re-examined and updated in ways nobody would have predicted at the start of 2020. To help you navigate this transition, this article sums
20 Hotel Website Mistakes To Fix To Avoid a Low Conversion Rate
The hospitality industry has strong competition and the rivalry for guests is going to be even more fierce these days. Hotels compete online for guests not only with other hotels but with other players, such as OTAs and Search Engines Hotel Markets. Therefore, hotels should ensure that their website attracts
Hotel Schools: Global List of Hotel Management Schools
Hotel schools provide a range of training on every topic you can think of about the hotel industry. At a hotel school, you might find courses covering everything from general management to accountancy. Hotel schools are vital to developing your career to its full potential. You'll learn about the top