Today's Revenue Management thought:-
Will technology help reduce the impacts of rising inflation ?
There is a highly unpredictable & volatile future ahead, now might be the time for hoteliers to seriously consider revenue management solutions and leverage their capabilities to:
Optimise hotels' pricing power & adjust room rates to reflect labour and productivity expenses
Review and adapt pricing to maximise the length of stay & day of week trends
Examine the total revenue potential of group bookings versus short-term guests willing to book higher room rates plus ancillary spending earlier in the booking window
Review & control the buying down options on booking channels, especially when approaching a 30-90 day booking window
Optimise earnings by increasing rates for upgrading rooms at the time of purchase or upselling at check-in
Have a profitable week.
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