Can you tell us a little bit about your hotel, your story and your destination?
We started out as an AirBnB in the depths of the recession. We had four vacant rooms in our house and, as we are right on the beach, my husband and I thought about renting it out on AirBnB. The summer season went really well, but as soon as winter started the demand fell and it was hard to get people in the door. We learned some things about channels and pricing the years after and now we are always looking for technology to help us with our daily work. RoomPriceGenie is helping us with getting prices right.
How did you do your pricing before using RoomPriceGenie? How long did it take you?
Initially, it was blindfolded and we did not really know and understand what we were doing. Early on, I started to compare my listing to other AirBnB listings and then I started tracking how different measures affect my occupancy and the clicks on my website. Yet, we mostly lost money with our tries to get the prices right. We learned a lot over the last few years, but it was expensive.
How important do you think pricing is in today’s world?
Even the slightest difference in price on just one day has a huge impact on the reservations we get. So yes, I would say that pricing in today’s world is crucial. Other evidence I have for the importance of pricing is coming from tracking my website. The only two pages of customer’s visits are the homepage and the rooms and rates page. Yet, my website has much more to offer with more information about the region, activities and such. But rooms and rates are what they really care about.
How has RoomPriceGenie changed your business?
We have been using RoomPriceGenie for two full consecutive months now and have considerably improved. We are in a special situation when it comes to comparing to last year’s performance as we have doubled the number of rooms. Yet, RevPaR is up 16% in March and 25% in April. Our overall revenue, after doubling the number of rooms and starting to use RoomPriceGenie was up 144% in March, 163% in April and 67% so far in May.
What is it that you like about RoomPriceGenie?
It is staying in control of my prices but having a system execute my strategy. The system picks up on pricing trends that I as a human could just not spot this quickly. Overall, RoomPriceGenie is an excellent partner to work with. I really appreciate the ability to give and take ideas.