Hotels need to drive rate parity towards value differentiation than just price. With this article, we want to emphasize on the progress towards the Best Value Guarantee instead of Best Price Guarantee. Yet, a little attention on the key troublemakers can go a long way in warranting that, your hotel always stays ahead of the competition. Invest in a good Rate Parity Tool Now!
3 – Star Hotels: 2 cities had less than 10% of hotels in parity out of 11 cities surveyed
4 – Star Hotels: 4 cities had less than 10% of hotels in Parity out of 12 cities surveyed
5 – Star Hotels: 5 cities had less than 10% of hotels in Parity out of 12 cities surveyed
Building the Perfect Revenue Strategy Is Not Enough; Advanced Hotel Revenue Management Tool is a Must!
An efficient and cutting-edge Hotel Revenue Management Solution not only increases the revenue and profitability, but also ups efficiency of sales and marketing efforts. This directly leads to improvement of market insight, guest demography & current trends in the occupancy of hotel inventory.
Geo-location prices of different hotels are being taken into account by industry players both hotels and OTAs as it gives them a sense of how competition is pricing their property in different regions and then, accordingly set (or change) their own prices.
Pricing has always been an important aspect of any business as it plays a quintessential role in the effective running of all industries worldwide. Hotel price management, i.e., how the goods and services of any business are priced and tagged in the extremely competitive market scenario goes a long way in determining the firm’s profitability…
Hoteliers, are you tracking mobile app rates of your Comp-Set? Choose a Rate Shopping Tool that can help you do this and build the right pricing strategy. It has become extremely important to monitor Mobile App rates of your competition on a constant basis and thus optimize yours accordingly.