Today's Revenue Management thought:-

Karl Marx - A Revenue Manager ?

Karl Marx is reknown for saying…..“from each according to his ability, to each according to his need”.

Translated into a pricing strategy this could be slightly reworded to….. “from each according to his ability to pay, to each a sustainable and profitable mix of products according to his need”.

When done well a pricing strategy addresses many new consumer segments through sales, promotions and tactical initiatives. In addition it also ensures that hotels sell their rooms and services at sustainable yields through capturing better yields from customer segments by stimulating their willingness to pay.

Have a profitable week.

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