Today's Revenue Management thought:-

As summer approaches and June draws near, hotels are entering their busiest season, brimming with revenue opportunities. This week, we will explore how cancellation policies can be strategically utilised to drive revenue.

Cancellation policies in hotels can be strategically utilized to drive revenue and enhance business operations. By carefully designing and implementing these policies, hotels can minimise losses, improve cash flow, and encourage direct bookings.

• Dynamic Pricing and Tiered Policies: Combining cancellation policies with dynamic pricing allows hotels to adjust rates based on demand. Offering different price points for varying levels of flexibility helps maximise occupancy and revenue.

Have a profitable week !

✌🏼