Thinking Beyond the Short Term: How to Make the Best Pricing Decisions for Your Hotel
Hoteliers should look to utilise the data and analytical tools provided by revenue management technology, to determine the best marketing and pricing strategies for the future.
By Fabian Bartnick, Senior Hospitality Consultant for IDeaS
Hoteliers are under constant pressure to maximise occupancy and profit in the face of strong or waning demand.
It goes without saying that the ability to price rooms and services correctly is key to a hotel’s profitability. However, while pricing decisions can seem straightforward on the surface, they are actually very complex and not without significant risks.