Good revenue managers are always on their toes, staying abreast with the latest news, best practices and adapting to real-time changes taking place in the industry.
Hotel pricing strategies have made strides and replaced traditional pricing practices. The modern pricing strategies enable revenue managers understand the price sensitivity of demand and map it to the demand characteristics of their products, and accordingly determine an effective pricing strategy.
Check out the infographic below that will walk you through the major changes hotel pricing strategy has undergone.
How has your hotel pricing strategy changed over the years? Let us know in the comments below.