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Research the current and projected demand for hotels in your location, taking into account factors such as population growth, tourism trends, and economic activity. Competition: Analyse your competitors, their strengths, and weaknesses. Break-even analysis: Calculate the point at which your hotel will start to generate a profit.
Often, this requires strategic input on segment forecasts, competitiveanalysis and historical data analysis. Anticipating future demand, revenue managers work tirelessly to adjust rates in order to maximize occupancy levels. In-depth price calibration is critical and appropriate for properties in the lower and middle tiers.
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