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Setting the right rates for your rooms is not just about numbers; it’s about balancing guest expectations, understanding demand, and staying competitive. In this blog, we’ll cover everything you need to decide hotel rates smartly, including competitionanalysis, pricing strategies, and tools to simplify the process.
This information comes from many places such as: PropertyManagement Systems (PMS) Point of Sale (POS) systems Customer Relationship Management (CRM) databases Online review platforms Social media channels Competitor pricing data Market trends and economic indicators Data Integration After collecting the data, we need to integrate it.
Break-even analysis: Calculate the point at which your hotel will start to generate a profit. Competitiveanalysis This is a deeper dive into your earlier research section, where you uncovered your place in the market. USP : modern design, local experiences, personalised service, and curated events.
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