Tips & Best Practices for Hospitality & Travel Professionals | RateGain Blog

Dynamic pricing — Airlines practice it. So do online retailers and sports event organizers. Should hotels be an exception, then? Also known as time-based pricing, dynamic pricing strategy is a revenue-management strategy employed by various industries, involving real-time tweaking of prices of products or services on the basis of their demand and supply. Dynamic pricing in the hotel Industry Thanks to sophisticated technology and the internet, the pricing operations of ho...

Setting the right pricing strategy is a critical aspect of hotel revenue management. By implementing intelligent and data-driven pricing strategies, hotels can optimize their revenue, enhance profitability, and stay competitive in the dynamic hospitality industry. But before we delve into the various hotel pricing strategies, let us understand the basics of rate pricing, variable pricing, dynamic pricing, and occupancy-based yield management. What is a Hotel Pricing Str...

In today's digital age, online advertising plays a crucial role in the success of hotels. It helps them reach a wider audience and generate more bookings. One such powerful advertising platform is Google Hotel Ads, which enables hotels to showcase their offerings to potential guests. But before we walk you through the process of using Google Ads for your hotel and optimizing your campaigns to drive more bookings, let us first understand what a Google Hotel Ad is. What are...

As revenue consultants, we have experience from lots of hotels. Many of them have already grasped the reality of demand-driven daily pricing based on multiple factors. However, where room pricing management has become more flexible, availability management has not. In spite of the fluid nature of demand where segmentation has lost a lot of its past emphasis, hotels still insist on treating their inventory as a compartmentalised box with little room to play. Thus, no soo...

Hotel room wholesalers act as intermediaries between travel suppliers (hotels) and travel agents, providing a vital role in the distribution of hotel rooms and rates. Their primary function is to purchase products (rooms, rates, and packages) in bulk from hotels and sell them to various clients (travel agents, OTAs, and tour operators), who then offer them to their customers (guests). Wholesalers, such as AOTGroup, CN Travel, FollowMe2Africa, Helloworld Travel, Abreu Onlin...

While rate parity ensures that you have complete control of setting the bar for your room rates and ensure equal prices across all distribution channels, it destroys your chances to compete freely in the market and also makes you lose a voluminous amount of potential revenue as massive commissions to the OTAs. Hotel revenue managers face challenges with rate parity issues, which restrict their pricing freedom and lead to potential revenue loss. The hospitality industry has...

In the dynamic and competitive landscape of the hotel industry, maintaining consistent pricing across various distribution channels is crucial for hoteliers. This is where the concept of hotel rate parity comes into play. Rate parity refers to the practice of offering the same room rates and terms across all distribution channels. However, to be able to use it to your advantage, it is important to understand the intricacies of rate or price parity and why it is integral to...

Managing all room & rate combinations across multiple platforms is a task that generally falls in the lap of a Revenue Manager (RM). When a hotel has its RM updating room-rate combination on its distribution platform manually then they are wasting the time, which RM should have spent in strategizing. Most hotels today realize that and make use of technology and that’s where the channel manager comes into the picture. While a channel manager seems like a dream product mana...

In today's digital era, hoteliers face the challenge of keeping their rates in sync, expanding to hundreds of new distribution channels, and maximizing the occupancy of their hotels. There is, therefore, the need for efficient room inventory management across multiple online distribution channels. This is where a channel manager becomes indispensable. Choosing the perfect hotel channel manager software requires careful consideration. But to do that, we need to first und...