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As we wrap up 2024, it’s time to reflect on the blog posts that resonated most with our audience this year. From valuable insights into the online booking landscape to practical tips for hoteliers, these blogs highlight what truly matters in the hospitality industry. What is Dynamic Pricing and Why It Matters?
Pricing plays a crucial role in determining the success of any business. When it comes to hotel businesses, one must continuously strive to achieve a balance between the customer experience and pricing. Hotels follow different pricing strategies to get there and seasonal pricing remains one of the most important.
As we step into 2023, the hospitality industry is still reeling from the effects of the pandemic – which makes implementing hotel pricing strategies more important than ever. However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world.
In Series 2, we looked at Dynamic Pricing; how this can immediately impact your ADR along with the considerations you need to make before implementing this strategy. Whilst revenue gains can of course be made by channel shift or dynamic pricing strategies, you can also make an immediate impact by simply reviewing your product offering.
This blog outlines simple, actionable strategies that hotels of all sizes can use to grow their business, from direct bookings to pricing strategies and everything in between. Promote a Best Rate Guarantee: Ensure guests know they'll get the best price when booking directly.
For which, blogs have become invaluable resources to rely on. To help you navigate the ever-growing blogosphere, we’ve compiled a list of the top 10 hospitality blogs from 2023 that every hotelier must follow. This is where our next blog comes in. Read More What Are Some of The Important Hotel Reports?
Did you know that effective hotel pricing can increase revenue by up to 20%? In this blog, we’ll cover everything you need to decide hotel rates smartly, including competition analysis, pricing strategies, and tools to simplify the process. Value-Based Pricing: Price rooms based on guest-perceived value (e.g.,
In this context, hotel dynamic pricing is one of the most critical elements. This blog will delve into its intricacies and share insights on strategically leveraging this tool while maintaining guest loyalty. What is dynamic pricing in hotels? Revenue Goals : Determine what you aim to achieve with dynamic pricing (e.g.,
Blog about local events or lesser-known attractions in your area to position your property as a knowledgeable and welcoming destination. Pricing feels like guesswork: Without data-driven insights, setting competitive and profitable room rates can be a daunting task. Create engaging content to highlight your expertise.
Smart hoteliers implement dynamic pricing, but very smart hoteliers combine it with a strategy for reaching the top positions on OTAs. Dynamic pricing is crucial for hotels looking to maximize revenue and occupancy rates. Read on to become a very smart hotelier!
For instance, if there’s a popular annual food festival, create a package that includes event tickets and transportation along with a weekend stay, making yourself the go-to hotel for the event, for more info on this visit our blog post on how focusing on guest experience boosts long-term revenue.
They offer the convenience of hotel-like services while providing more amenities and space for the price. Starting a blog can also boost traffic. Sites with blogs tend to rank better in search engines and attract more visitors. How to market a serviced apartment?
NB: This is an article from Demand Calendar One of the most pivotal decisions is setting the right price policy for hotel rooms. A hotel’s pricing strategy can be the difference between empty rooms and a bustling, thriving business. In this approach, hotel rooms are viewed and sold as commodities, regardless of who the guest is.
In our last blog, we looked at Channel Shift and the impact that this can make by simply restricting lower rated business in favour for higher rated business. Now for the second consideration… Dynamic Pricing So, what exactly is Dynamic Pricing? Many hotels work much better with a derived pricing strategy. Deluxe £160.00.
It’s the price you charge for each room, and hoteliers often fret about setting it too high. In this blog post, we’ll delve deep into why you shouldn’t be afraid to push your room prices higher. The Price-Quality Paradox One of the surprising aspects of pricing is the price-quality paradox.
Regularly updating your site with blogs about local events or hidden gems nearby also signals search engines that your website is relevant and engaging. Integrate Your Rates and Inventory : Managing multiple OTA platforms manually can quickly become overwhelming, leading to errors like double bookings or inconsistent pricing.
For example: If an independent hotelier is functioning on manual methods and if there are fluctuations in prices, how will he manage the rates across multiple channels? In the next blog, we will elaborate on how technology can help simplify the problems faced by hoteliers in selling rooms online.
Content Creation and Optimization : Maintaining a blog and using visual content. Strategies include: Partnering with local tourism organizations Getting listed on respected travel blogs and directories Collaborating with influencers and travel writers Guest Posting Contribute articles to travel blogs and industry publications.
What makes guests choose one hotel over another even when the price and amenities are nearly the same? This blog highlights why hotel branding matters and shares practical strategies to help your property stand out. Align Your Pricing with Your Promise Guests see price as a reflection of value.
In this blog we highlight some best practices for user experience and user interactions when it comes to inspiring guests to buy gift vouchers and redeeming it. It is completely customisable to integrate with your brand and offers the ability to create multiple vouchers, set prices and manage sales and redemption from one place.
As we step into 2023, the hospitality industry is still reeling from the effects of the pandemic – which makes implementing hotel pricing strategies more important than ever. However, one of the biggest challenges hoteliers face is determining the right pricing strategies to maximize their revenue in the post-pandemic world.
Revenue Growth : Uncovers opportunities for upselling, cross-selling, and optimizing pricing strategies based on comprehensive data analysis. NB: This is an article from Demand Calendar Subscribe to our weekly newsletter and stay up to date These are some of the most common myths that keep hotels from harnessing the full power of their data.
Driving direct bookings is essential for maximizing revenue and maintaining control over your property’s pricing strategies. One valuable tool that can help you achieve this is the STAAH Smart Pricing feature which is available for SwiftBook users. What is Smart Pricing in STAAH SwiftBook?
Aside from improving restaurant customer experience , market research also helps you make informed decisions about location, pricing, and marketing strategies. increase in average wholesale food prices compared to last year, you might want to update your pricing strategy. With the 4.5%
” Blogging for Local Relevance - Blogs are an excellent way to connect with potential guests and showcase your area’s highlights. Don’t miss our comprehensive SEO blog for actionable strategies. Listings with detailed and up-to-date information are more likely to attract clicks and bookings.
Yield management, also known as revenue management, is a strategy hotels use to optimize their revenue by adjusting prices and inventory according to consumer demand. In this blog post, we will cover the following – what is yield management, its relevance in the hotel industry, and the benefits of yield management in the hotel industry.
If not, this blog will guide you on achieving this through digitization with the right solutions. It is invaluable for the revenue management team as it allows them to optimize pricing strategies and package offerings by understanding demand, peak/off seasons, and other vital elements. But have you been able to get it right?
Hotel stays especially at luxury or high-end properties with $1,000 per night price tags are high-consideration purchases that can take weeks, if not months, to materialize. A customer might discover a hotel through a travel publication, compare prices, and revisit the propertys blog or social media channels before booking.
What is competitor based pricing? Competitor-based pricing or competition-based pricing is a data-driven approach where businesses use advanced analytics to set their prices based on competitors’ rates. But it’s not just about matching or undercutting competitors’ prices.
Setting the right price for your hotel rooms is crucial for driving revenue and maximizing profitability. However, there are many factors that can influence your hotel’s pricing strategies. What is Hotel room pricing? What is Hotel room pricing? Hotel room pricing is a critical element of revenue management for hotels.
The objective of this blog is to help property managers of all categories and sizes grow their direct booking channels, a job that typically falls on marketing. Starting with the guests Know your audience is what I could have also called this blog. For the purpose of this exercise, we are going to focus on three types of insights.
Travelers need more than price, location and star rating, he said. Amazon said it is rolling out Alexa+ out over the next few weeks in the United States, with an early access period, and in waves over the following months. Experiences are not a commodity sale. An experience is about How am I going to spend me time.
In this blog post, we will be discussing six essential steps to successful hotel management: Successfully manage their properties Increase revenue Provide a positive experience for guests Understand Your Customers The first step to successful hotel management is understanding your customers.
This blog will tell you everything you need to know about bed banks, including how you can get connected to them and grow your hotel’s revenue. Their platform offers advanced tools for inventory management and dynamic pricing. Table of contents Why should hotels use the biggest bed banks? Is Hotelbeds a Bed Bank?
Travelers use many sources like search engines, travel blogs, social media, and advice from friends and family. This can include inspirational blog posts, social media content, high-quality photos, and reviews. Destination-focused videos or blog posts related to unique local experiences can position your hotel as the top choice.
In this blog we take a look into the crystal bowl for what 2025 could bring for hoteliers. Revenue optimisation smarts , particularly prompts for customers to upsell, understanding demand and pricing up premium hotel features such as views, space, late check-out etc. 10 Game-Changing Hotel Trends to Prepare for in 2025 1.
Timing and pricing strategy Lets dig in. Months before the concert, they saw the demand building and started adjusting their prices accordingly. These hoteliers anticipated demand, implemented dynamic pricing, and kept a close watch on competitor pricing. Gone are the days when pricing was just a guessing game.
This blog explores how integrated solutions play a pivotal role in simplifying hotel payment processes and why they are crucial in today’s competitive landscape. Real-time Updates: Thereafter, integration with property management system s (PMS) provides real-time updates on room availability and pricing.
This blog is only for hoteliers who want to grow revenue and increase profits. By analyzing historical data alongside real-time inputs, hotels can predict busy periods, adjust pricing strategies, and prepare for unexpected market changes.
In this blog, we share 3 powerful tips to help you stay competitive and elevate guest experience in 2023 – Adopt Contactless Technology – One of the latest hotel technology trends in the post-pandemic era includes the rise of contactless technology. Book a demonstration of our award-wi nning hotel management software here.
For example, let’s imagine an online reviewer who exclusively reviews low-priced fast food restaurants. This blog has done a great job of teaching you how to spot fake followers to avoid getting scammed. Be sure to include a stipulation of guidelines (i.e.
Audit your special offers page and homepage placement to ensure: Key offers are prominently featured above the fold Package details are clear and easy to skim Price points, strong visuals and bold CTAs are included Each offer links to a dedicated landing page or blog post for better engagement and SEO A well-structured offers section can make a significant (..)
In this blog, we’ll explore the top US-based OTAs of the year, helping you make an informed choice for your next adventure. When it comes to planning a trip, choosing the right online travel agency (OTA) can make all the difference. Booking Flexibility: Look for options that allow changes or cancellations.
Write interesting blog posts and local guides: Create engaging content that aligns with seasonal trends and local events , offering valuable information that draws in readers and improves search rankings. Hotels can save as much as 15% on commission charges by getting direct bookings instead of OTA bookings.
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