How to capture más ingresos with automated pricing
This guide – written explicitly for the independent hotelier – will explain the concept, strategies and benefits of automated hotel pricing. We’ll show you why automated pricing is the secret to capturing more bookings, higher room rates, and more revenue every day, even while you sleep. That is if you have time for sleep.
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Contenido
1. Earn More Revenue While You Sleep
2. How Competitive Is Your Pricing?
3. Dynamic Pricing: Aligning Rates with Market Demand
4. Obstacles to Dynamic Pricing
5. Automated Pricing: A Game Changer
6. ¿Cómo funciona la tarificación automatizada?
7. Ventajas de la tarificación automatizada
8. Pricing Strategies to Boost Performance
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Ventajas de la tarificación automatizada
With automated pricing, you don’t have to worry about monitoring competitor rates, keeping up with market conditions, or deciding what rates to charge. The software does everything for you. Here’s what hoteliers say about the key advantages.
Saved Time
In addition to peace of mind, automated pricing can give back hours per week of a hotelier’s time, even as much as a full day. This frees them up to spend more time on taking care of guests, supporting the team, and managing marketing activities.
“I have more time now,” said Nick Fitzgerald, owner of Aura Accommodation in New Zealand.“I logged on today for the first time in a week, and yet I knew that over the course of the last week my pricing was moving accurately and effectively with what was happening in the market.”
Faster Responses
Pricing software will pick up changes in both internal hotel demand, such as a fall in occupancy due to a canceled wedding, and outside demand, such as a spike in citywide demand after the local sports team gets into the playoffs.
“We’re finally able to capitalize on the events in our area without having to spend time manually watching the calendar and altering pricing. So, we’re saving time and driving more revenue. “
– Alexander Hochstein, Manager
Bio Hotel Kunstquartier, Germany
Data-driven Decisions
Too often, hoteliers make pricing decisions driven by intuition, guesswork, and emotions like fear or pride, leading to less than optimal results. On the other hand, quality data can drive bold, smart decisions that bring results they never thought possible.
“I always considered my pricing to be aggressive on the high side. But this August I increased my ADR by 11 percent compared to last year whilst still being full.”
– Steve Dorman, Owner
The Alexandra Hotel, England
más ingresos
Most importantly, automated pricing brings in more revenue, which can also boost profitability and asset value.
“Our sales are up 25 percent simply because we are now pricing rooms better,” Josef Dörig of Gasthaus Hof in Switzerland told us. Meanwhile, at La Hacienda Inn in the U.S., owner Purvi Patel said that the incremental revenue from automated pricing has increased the valuation of his business by 17 percent.
How much incremental revenue can hotels expect to earn from automated pricing? A case study from RoomPriceGenie, involving nine properties ranging in size from four to 55 rooms, found that hotels earned 22 percent more revenue on average year over year, an average of $70,000 per property.
Many hotels find that the incremental revenue pays off their annual software investment in a matter of weeks.
Contenido
1. Earn More Revenue While You Sleep
2. How Competitive Is Your Pricing?
3. Dynamic Pricing: Aligning Rates with Market Demand
4. Obstacles to Dynamic Pricing
5. Automated Pricing: A Game Changer
6. ¿Cómo funciona la tarificación automatizada?
7. Ventajas de la tarificación automatizada
8. Pricing Strategies to Boost Performance
