Dynamic Pricing: Benefits & Tips for Hoteliers to Increase Revenue
Dynamic pricing is a strategy where the price of products or services is adjusted based on market conditions. This typically means charging high prices during periods of high demand and low prices during low demand periods. For hotels, dynamic pricing plays a crucial role in revenue management, incentivizing bookings at crucial times. The ultimate aim of dynamic pricing is to sell for the highest amount customers are willing to pay. In this article, you will learn about dynamic pricing and its advantages, while accessing some useful tips. Table of Contents: What Is Hotel Revenue Management? What Is Dynamic Pricing? 3
5 Digital Strategies to Attract Remote Workers to Your Hotel
As companies worldwide shift their standards to allow for more remote roles and hybrid working models, the concept of the ideal workplace has become much more subjective. With this increased flexible work environment, people are embracing the digital nomad lifestyle. This offers the ability to log in from anywhere in the world, whether in cafes, co-working spaces, and, most importantly: hotels. Catering to Remote Work While the remote workers may not stay overnight, they may
Accommodation Service Providers: Successful Tips for More Revenue
Accommodation service providers include everything from hotels and hostels to bed and breakfast accommodations, motels, and serviced apartments. In this article, you can access relevant tips for all accommodation service providers to generate more customer revenue. Table of Contents: What is Accommodation Service? Accommodation Service Types Tips & Strategies to Increase Revenue for Accommodation Service Providers Clear and Logical Branding Efforts Consistent Revenue Management Strategy Ensure the Necessary Hotel Software is Installed Stay Up-To-Date with
Tips for Reconsidering Your OTA & Direct Booking Strategy in 2021
When engaging with online travel agencies (OTAs) in this era of uncertainty, hoteliers must properly understand the value and costs associated with all distribution channels. Any relationship weighted in favor of an OTA to the detriment of a hotel’s bottom line needs to be reviewed, and steps should be taken
Pushing Profit Beyond the Guest Room in 2021
Hoteliers are under unforeseen pressure to make magic happen in the new year and get their profitability back on track. Three words: “Total Profit Optimisation.” You’ve likely heard them spoken before in hushed whispers. It’s the ever-elusive and seemingly unattainable holy grail of hotel revenue leadership. Maximising Your Business Revenues
4 Stage COVID Communication Plan for Hotels
It is vital to ensure your hotel is safe for your guests and staff during COVID. However, even if your hotel’s COVID-19 measures are set up correctly, the communication regarding these measures is just as important. Below you find a COVID communication plan for your hotel. Processes in the Four