Today's Revenue Management thought:-

Psychology matters: 

Understanding consumer psychology and how people perceive price can help companies optimise their pricing strategy.

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Today's Revenue Management thought:-

Value-based pricing is crucial: 

Aligning prices with the perceived value to customers ensures long-term success over simply undercutting competitors.

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Today's Revenue Management thought:-

Price determines profitability: 

Pricing has a far greater impact on profitability than sales volume or cost reductions.

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Today's Revenue Management thought:-

It’s Friday - time to contemplate.

True dynamic pricing adjusts based on demand, trends, and data, not constant price changes alone. Is there a future for dynamic pricing ?

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Today's Revenue Management thought:-

The future of dynamic pricing in hospitality hinges on balancing flexible pricing with transparency and fairness. This week we question the viability of dynamic pricing in hospitality. 

An Outdated Model for a Modern Market?

Dynamic pricing may not be viable for the future of hospitality. As consumers demand greater fairness and predictability, reliance on ever-shifting rates appears increasingly out of touch. Without significant changes, this once-effective pricing model could become a relic of the past.

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Today's Revenue Management thought:-

The future of dynamic pricing in hospitality hinges on balancing flexible pricing with transparency and fairness. This week we question the viability of dynamic pricing in hospitality. 

Regulatory Threats Could End Dynamic Pricing

With rising regulatory scrutiny, particularly after scandals in industries like ticketing, dynamic pricing’s days could be numbered. As governments crack down on deceptive practices, hospitality may face similar scrutiny. If stricter regulations are introduced, hotels may lose the freedom to price dynamically.

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Today's Revenue Management thought:-

The future of dynamic pricing in hospitality hinges on balancing flexible pricing with transparency and fairness. This week we question the viability of dynamic pricing in hospitality. 

Consumer Manipulation or Strategy?

Dynamic pricing often feels like manipulation rather than a fair strategy. Flashing "only 2 rooms left!" or sudden price hikes create pressure, which erodes credibility. In a market where transparency is increasingly valued, this approach could backfire, pushing consumers toward more predictable alternatives.

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✌🏼

Today's Revenue Management thought:-

The future of dynamic pricing in hospitality hinges on balancing flexible pricing with transparency and fairness. This week we question the viability of dynamic pricing in hospitality. 

Dynamic Pricing’s Inherent Flaws

Dynamic pricing may seem like a smart revenue tool, but its over-reliance on fluctuating rates risks alienating customers. Constant price changes foster frustration, not loyalty. By prioritising short-term gains, hotels may be sacrificing long-term customer trust and satisfaction, undermining their own business.

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Today's Revenue Management thought:-

It’s Friday - time to contemplate.

While self-service solutions are transforming hospitality by boosting efficiency, enhancing guest experiences, and offering data-driven growth opportunities, we must not overlook the importance of human intelligence (HI).

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Today's Revenue Management thought:-

This week, we’ll dive into how self-service solutions are revolutionizing hotel operations, enhancing guest experiences, and boosting revenue growth.

Enhancing Guest Loyalty through Seamless Experiences: Offering seamless, user-friendly self-service options, such as easy booking modifications, on-demand services, and instant communication, leads to higher guest satisfaction and loyalty. Satisfied guests are more likely to return and recommend the property, reducing customer acquisition costs and increasing long-term revenue.

Have a profitable week !

✌🏼