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Did you know that effective hotel pricing can increase revenue by up to 20%? Setting the right rates for your rooms is not just about numbers; it’s about balancing guest expectations, understanding demand, and staying competitive. Steps to Analyze Competitor Pricing: Track room rates across OTAs and direct websites.
Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. Optimal strategies and techniques are dynamic, based on the understanding that hotel pricing is fluid and can change from one day to the next.
Data-driven insights : With tools like Rev+ for revenue management and competitive set analysis, hotel owners can make informed decisions to optimise rates and stay ahead of the competition. This section lets you adjust room rates, offering flexibility in response to changing demand or specialevents.
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