InnQuest

MAY 11, 2023

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.

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Hospitality Magazine

APRIL 10, 2024

As agave prices in Mexico continue to fall and demand for premium-and-above tequila moderates in the United States, alcohol market analysts IWSR says brand owners have an opportunity to improve product quality at lower price points.

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Modern Restaurant Management

APRIL 17, 2024

Eighty-one percent of diners said they would either stop going to a restaurant altogether or alter their dining hours to avoid prices surging during peak hours and 64 percent said they have a negative reaction to restaurants using surge and dynamic pricing, according to a HungerRush’s National Restaurant Price Surging Survey.

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Hotelogix

JUNE 10, 2024

In this context, hotel dynamic pricing is one of the most critical elements. What is dynamic pricing in hotels?  Dynamic pricing strategy in hotels allows hoteliers to optimize revenue by ensuring room rates accurately reflect market conditions and consumer behavior.

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Revenue Hub

OCTOBER 29, 2024

NB: This is an article from CWT Subscribe to our weekly newsletter and stay up to date With the hotel sourcing season well underway, many corporate travel and procurement teams are likely trying to figure out which hotel pricing model makes the most sense for their programs. Which Rate Is Best?

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Revenue Hub

OCTOBER 1, 2024

As a hotelier, one of the most critical aspects of revenue management is setting the right prices at the right times. This is where a seasonal pricing strategy comes into play. We explore what a seasonal pricing strategy is, why it’s essential, and how you can effectively implement it in your hotel.

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Revenue Hub

OCTOBER 30, 2024

Welcome to the “rate wars,” where hoteliers engage in a constant game of pricing cat and mouse. From fancy software tools that track every rate change in real-time to secret phone calls under the guise of a corporate booker, hoteliers have mastered the art of “price espionage.”

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Revenue Hub

OCTOBER 22, 2024

As we look toward 2025, global pricing trends reveal a resilient industry, but one marked by stark regional differences. Latin America leads the charge Latin America has emerged as the star performer in hotel pricing recovery. The hospitality landscape in 2024 is a study in contrasts. With a remarkable 12.2%

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Modern Restaurant Management

OCTOBER 9, 2023

The data also supports what RMS has been advising: pricing must be strategic. Insights from transactional POS data specific to locations and customer segments can help operators assess where item sensitivities are low or high, indicating which items might have further pricing opportunities and which don’t.

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Modern Restaurant Management

NOVEMBER 15, 2022

Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menu prices. As food prices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.

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Revenue Hub

MAY 17, 2024

Small properties (one hundred rooms or less), especially upper-upscale and luxury boutique hotels in destination markets that are principally leisure with higher ADRs, are often attractive buy-out destinations for certain kinds of groups. This can range from weddings and reunions to corporate and association retreats or incentive travel.

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Revenue Hub

SEPTEMBER 27, 2024

NB: This is an article from Knowland Subscribe to our weekly newsletter and stay up to date Also known as attribute-based pricing, the shift allows guests to customize their stay by selecting only the necessary services, potentially reducing costs and enhancing their overall experience.

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Revenue Hub

SEPTEMBER 18, 2024

One of the most pervasive myths is the belief that offering low prices will automatically lead to high occupancy rates. In fact, setting prices too low can have several detrimental effects on a hotel’s revenue, profitability, and overall brand perception.

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Revenue Hub

JULY 31, 2024

The ongoing manual calculations and pricing updates across all your distribution channels are huge headaches to most hoteliers, especially if pricing isn’t your only responsibility at your property. How can you use data to improve your pricing strategy? Do they have shared price sensitivities?

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Revenue Hub

JUNE 4, 2024

Understanding local competitor pricing is a fundamental component of a successful hotel’s revenue strategy. For instance, a hotelier may recognize that June through August represents their peak season and adjust pricing upwards accordingly. This approach ensures sustained profitability and a competitive edge in the market.

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Boutique Hotel News

JUNE 16, 2023

UK: The four-star Lion Hotel , located in Criccieth, Gwynedd in North Wales, is up for sale at a reduced price of £1,800,000 marketed by business property adviser Christie & Co. The post The Lion Hotel for sale at reduced price of £1.8 It can easily surpass this now with the right operator.”

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Revenue Hub

SEPTEMBER 13, 2024

Open Pricing provides you with the ability to yield room types based on demand. NB: This is an article from Duetto Subscribe to our weekly newsletter and stay up to date All prices in a BAR concept are fixed modifiers off each other, either at a dollar mark or as a percentage discount.

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STAAH

MAY 21, 2024

Setting the right price for a hotel room can be a straightforward task for some, yet complex for others. Regardless, the key question remains: Is the price point logical? Decision: Should we increase or hold the retail pricing on online travel agents (OTAs) and the brand website?

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Revenue Hub

OCTOBER 16, 2024

Now for the second consideration… Dynamic Pricing So, what exactly is Dynamic Pricing? Put simply, Dynamic Pricing is the practice of changing room pricing, multiple times per day based on a rooms individual demand. Many hotels work much better with a derived pricing strategy. What is Dynamic Pricing?

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Revenue Hub

SEPTEMBER 2, 2024

Price skimming can be highly effective, especially during peak demand periods like major events or holidays. We explore the ins and outs of price skimming in hotels, discussing how it works, its benefits and challenges, and best practices for implementing it successfully. The goal is to maximize total revenue rather than occupancy.

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Hotelogix

OCTOBER 3, 2024

This blog will provide simple yet effective strategies to help you market your hotel successfully on OTAs, boost your visibility, and increase your bookings. To maximize this opportunity, you need to learn how to market your hotel effectively to stand out from the crowd.  Dynamic Pricing Adjust your pricing based on demand.

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STAAH

JULY 23, 2024

In the ever-evolving landscape of the hotel industry, finding the right pricing strategy can significantly impact your business’s success. One approach that has gained traction among savvy hotel owners and managers is dynamic pricing. But what exactly is dynamic pricing?

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MEWS

MAY 18, 2023

Having a robust hostel pricing strategy is essential to a hostel's profitability. You want to find the price that gives you a competitive edge but isn't too high to scare away potential guests. It will depend upon the hostel location, the type of guests, your competitive set, how well your hostel is rated and market trends.

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Revenue Hub

OCTOBER 31, 2024

Product Launches and Brand Activations A buyout enables companies to transform the entire space into a branded experience, which is especially important for new product reveals or experiential marketing events. Hotels can add value by offering all-inclusive packages that appeal to both organizers and attendees.

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Revenue Hub

FEBRUARY 5, 2024

Open pricing is a hotel pricing and room distribution strategy that sells rooms at a rate that will both benefit the customer and provide the highest possible profit for the hotel at the same time. How does open pricing work? Open pricing offers more flexibility than the popular BAR strategy used by most hotels.

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Revenue Hub

MAY 7, 2024

Perfect competition is a term used in economics to describe a market structure where many buyers and sellers interact without any restrictions, and prices reflect the actual supply and demand dynamics. The industry is characterized by its diverse pricing and services and the advanced technological tools used to set those prices.

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Revenue Hub

JUNE 19, 2024

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!

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Revenue Hub

SEPTEMBER 19, 2024

Game theory begins with understanding that every guest is a player in the hospitality market, making choices based on various factors – price, location, brand reputation, and unique offerings. This move, in turn, can prompt competitors to adjust their pricing or promotions.

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Revenue Hub

MARCH 15, 2024

Overall, the arrival of Swift is positive for pricing in every hotel market we look at, although the level of variation from destination to destination can be quite extreme, for reasons we will discuss later. We can see that the effect on hotel room pricing in some cities is staggering.

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Hotel Owner

OCTOBER 14, 2024

Northcote Hotel in Lancashire has been brought to market for an undisclosed price. The property is being marketed by Savills which is operating the sale on a “price on application” basis. It is being pitched as a freehold opportunity that includes 26 bedrooms and planning consent for an extra restaurant.

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SiteMinder

MAY 28, 2023

While prices for all German accommodation providers rose by seven per cent between 2019 to 2022, prices among those with 20 rooms or less grew 22 per cent in the same period. “However, generally, we have seen that smaller properties are leading the hotel industry in raising their pricing to reflect macroeconomic shifts.”

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Revenue Hub

JULY 27, 2023

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. The hotel sets the room rates based on the market and competitor rates, which apply to everyone.

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Hotel Owner

JULY 28, 2023

Redcraig Lodges in Bridge of Dee has been brought to market for an asking price of £690,000. The listing includes four self-contained one-bedroom holiday lodges in a location ideally situated for Aberdeen, as well as separate detached four-bedroom owners’ accommodation.

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Hospitality Net

OCTOBER 20, 2023

Hotel price monitoring is a crucial practice that involves tracking the prices of hotel rooms, both within your own portfolio and across competitors. This data-driven approach enables you to make informed pricing decisions, ensuring you remain competitive in the market while maximising revenue.

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Modern Restaurant Management

NOVEMBER 7, 2022

Striking a balance between value and price. Is it possible to strike a balance between value and price to satisfy both parties? To answer that question, Revenue Management Solutions (RMS) examined two factors: the impact of price increases on QSR sales performance and consumers’ perception of value. Is it possible?

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Revenue Hub

JUNE 27, 2024

Effective pricing strategies are the cornerstone of spa revenue management. Setting Competitive Spa Prices Spa Revenue Management begins with setting competitive prices that attract guests while ensuring profitability. By aligning with this market average, you remain competitive.

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Hotelogix

NOVEMBER 13, 2023

Pricing strategies in the hotel industry is one topic that will forever be discussed by hoteliers the world over. That being said, there are some hotel room pricing strategies that have steadily proven to be effective. A combination of different pricing methods can take you a long way in attaining success in the hospitality industry.

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