Today's Revenue Management thought:-

We constantly hear about Dynamic pricing, and many think this is the only step in maximising revenue opportunity - but is it really the only step ?

Dynamic pricing models are designed to maximise revenue.

However, they are not necessarily the most effective way to maximise revenue opportunities.

All hotels should also consider other pricing strategies such as segmentation pricing, loyalty pricing, and value-based pricing. These strategies can help hotels create value-based offers and create more attractive pricing options that will entice more guests to book.

Additionally, hotels should also consider factors such as seasonality and customer preferences when setting prices.

By taking these measures, hotels can maximise revenue opportunities and maximise customer satisfaction.

Have a profitable week.

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