What Dynamic Pricing can do to your Hotel Revenue

Image credit: Tnooz Airlines practice it. So do online retailers and sports event organizers. Should hotels be an exception, then? Dynamic pricing, also known as time-based pricing, 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…

Parity Performance May 2016. Where does your city stand? – LATAM

The degree of rate parity observed for Latin American hotels between their brand websites and the OTAs show variation by location in the May 2016 report. Lima maintained 100% parity in the 3-star hotel category, while Panama City emerged as the city practicing maximum parity with 59% and 63% in the 4-star and 5-star categories,…

Comparing and Contrasting Industry Problems with Revenue Optimisation

This post by our revenue expert, Kamesh Shukla,  originally appeared on LinkedIn pulse.  Hospitality and airline industries are considered to be the epitome of best practices in pricing and revenue management. In the battle to gain competitive advantage alongside high yields, sophisticated software suites are deployed by them to forecast demand, manage inventory and monitor…

21 Points to Consider while Buying a Rate Shopping Tool for Your Hotel

Perishability and limited inventory are two most important aspects of hotel business & thus pricing of a room becomes one of the most important KPIs for a Revenue Manager. Thus, hotels cannot be living in silo and not monitor what their competitors are pricing and offering their prospective guests. It’s no secret that hotels offer…

Demand Forecasting: Top 3 Ways Hoteliers Can Leverage this Strategic Management Tool

Human minds are inherently prone to biases. Isn’t it? In hotel revenue management, biases can be your worst nightmares since these can result into imprecise conclusions. And, inaccurate conclusions often equal to missed revenue opportunities. Look, either you have a crystal ball that empowers you to know how much will be the average length of…

The Evolution of Hotel Pricing Strategy [Infographic]

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,…