Today's Revenue Management thought:-

In the dynamic world of hospitality, revenue management is the art of anticipation – predicting not just what guests need now, but what they'll crave next, ensuring every dollar spent is an investment in future success.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

Consider revenue management as the silent storyteller of hospitality, shaping narratives not just in numbers but in the priceless moments guests carry with them, and the lasting impression on the bottom line.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

In hospitality, revenue management isn't just about filling rooms; it's about crafting an experience worth paying for, a delicate dance between value and profitability.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

Still pricing manually - a typical Friday morning pricing meeting ?

In the fast-paced hospitality world, an efficient RMS is a game-changer for maximising revenue and enhancing guest experiences. Invest wisely (both your time and money) !

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

For hotels without a Revenue Management System (RMS), it's high time to contemplate its adoption.

This week's four-part blog series will shed light on the challenges associated with adhering to manual methods while determining your prices.

Part 4: The Human Touch in Setting Future Rates

In the absence of automated tools, the human touch becomes paramount in setting future rates. Engage with guests, gather feedback, and adapt based on changing preferences. Develop a keen understanding of your target audience and adjust rates in alignment with their expectations. As consumer trends evolve, the ability to pivot strategies manually, incorporating a mix of intuition and market insights, becomes the key to staying competitive and finding the elusive sweet spot in setting your daily hotel room rates.

In the fast-paced hospitality world, an efficient RMS is a game-changer for maximising revenue and enhancing guest experiences. Invest wisely (both your time and money) !

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

For hotels without a Revenue Management System (RMS), it's high time to contemplate its adoption.

This week's four-part blog series will shed light on the challenges associated with adhering to manual methods while determining your prices.

Part 3: Timing is Everything in Manual Rate Adjustments

Knowing when to change rates manually is an acquired skill. Keep a close eye on leading indicators such as increased demand, competitor rate shifts, or sudden changes in the economic landscape. Reactive adjustments may be necessary, but proactive changes based on well-timed predictions can set your hotel apart. The ability to anticipate market movements and adjust rates ahead of the curve is a crucial element in finding the sweet spot for your daily room rates.

In the fast-paced hospitality world, an efficient RMS is a game-changer for maximising revenue and enhancing guest experiences. Invest wisely (both your time and money) !

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

For hotels without a Revenue Management System (RMS), it's high time to contemplate its adoption.

This week's four-part blog series will shed light on the challenges associated with adhering to manual methods while determining your prices.

Part 2: Dynamic Pricing Strategies in Manual Mode

Without automated tools, dynamic pricing becomes a manual endeavor. Regularly monitor booking patterns, upcoming events, and competitor movements. Embrace flexibility in adjusting rates based on real-time demand. Seasonal peaks, holidays, and local festivities can serve as triggers for rate adjustments. This nimble approach enables a hotel to stay responsive to market dynamics and optimize revenue without relying on automated algorithms.

In the fast-paced hospitality world, an efficient RMS is a game-changer for maximising revenue and enhancing guest experiences. Invest wisely (both your time and money) !

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

For hotels without a Revenue Management System (RMS), it's high time to contemplate its adoption.

This week's four-part blog series will shed light on the challenges associated with adhering to manual methods while determining your prices.

Part 1: The Art of Setting Hotel Room Rates Manually

In a world not reliant on automated pricing tools, setting the perfect hotel room rate becomes an art.

Begin with comprehensive market research, understanding local demand, competitor pricing, and seasonal trends.

Scrutinize historical data to identify patterns and leverage guest reviews to gauge perceived value.

This hands-on approach ensures a nuanced understanding of your market, allowing for a personalised rate strategy that automated tools might overlook.

In the fast-paced hospitality world, an efficient RMS is a game-changer for maximising revenue and enhancing guest experiences. Invest wisely (both your time and money) !

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

“Price promotions are a drug. They are the crack cocaine of marketing”. 

Pressure to run price promotions can be intense, particularly in an inflationary climate.

Price promotions will always be part of the brand marketing toolkit, but we always have to watch out for the slippery slope.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

Hospitality Harmony: “Discounts in the Ever-Evolving Guest Experience"

In the dynamic world of hotel management, discounts are a dynamic force shaping guest experiences.

New customers are enticed by the initial allure of cost savings, while returning guests feel appreciated through tailored discounts.

The synergy between acquisition and retention strategies involves recognizing the changing needs of guests and deploying discounts as a flexible instrument in the hotel's toolkit.

In this ever-evolving dance, discounts become integral to creating a harmonious and lasting connection between guests and their preferred hotels.

Have a profitable week !

✌🏼