How to capture more revenue 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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Contents
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. How Does Automated Pricing Work?
7. Benefits of Automated Pricing
8. Pricing Strategies to Boost Performance
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How Competitive Is Your Pricing?
It’s a tough time to be an independent hotelier. Just as the travel industry was recovering from the pandemic, inflation hit and a labor crisis kicked in. Today, hoteliers are trying to do more with fewer resources, and sometimes it’s exhausting.
Yet demand for rooms has been strong, and hotels have been able to offset rising operating costs with increased room rates. The question is, how long will that last? With fears of an economic downturn in the air, travelers are becoming more price sensitive.
Meanwhile, small, independent hotels are facing a rising tide of competitors, primarily big hotels and branded properties with deep pockets for marketing, staffing, and technology, but also from short-term rentals, Airbnbs, and serviced apartments.
With so much volatility and so little time, how can you stay competitive?
The good news is independent hotels have never been more favorably positioned to rise to the challenge. With the right know-how and technology in place, you can ensure your rooms are always priced to attract the optimal volume of high-value bookings.
Contents
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. How Does Automated Pricing Work?
7. Benefits of Automated Pricing
8. Pricing Strategies to Boost Performance
