Given the day to day room capacity is limited and the demand uncertain, successful hotels adjust room rates on a daily basis. Rates may rise to avoid selling out in advance, or reverse may fall if demand drops. There are myriad options that also include competition’s pricing strategy, lead time analysis, segment mix, OTA visibility & productivity, GDS penetration etc.
- Analytics is the main driver of your revenue performance
- Different rates and segments are controlled analytically
- Demand forecasts capture new business opportunities for specific customer demand patterns
- Customers’ price elasticity affect your rates and your competitors’ rates
An important evaluation stage of collecting performance and marketing data. The data is used to generate forecasts and identify periods of opportunity and need. It helps in assessing market segments and their past reaction to tactical and marketing strategies deployed. If your hotel subscribes to business intelligence reports i.e. Rate 360, STR Global etc., an evaluation is done to assess the extent to which these reports are utilised and incorporated in decision making.
Rate Structure & Pricing
Demand Planning & Forecasting
Revenue Management Success Stories
Soneva Jani, Maldives
- Complete assessment of the Maldives market
- Thoughtful pricing and rate strategy with the key intent to achieve top RevPar status in the Luxury Market
- Optimum channel distribution
- Effective rate dynamism and critical pricing controls in the International market.
- Rate Leader in Maldives
- RevPar Status = #1 in Maldives
- Create success in on-line distribution.
- Move away from the earlier dependence on traditional Travel Agent and direct guest model.
- Introduce rate dynamism.
- Unprecedented success in the heritage hotel segment.
- Improved Rev Par.
- Higher direct guest bookings.
- Improved week day business.