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The essential overview of hotel dynamic pricing (price tags)

Hospitality Net

You’re familiar with this model when considering your rack rate vs. your bottom prices. Those bottom prices may not cover much more than your costs, but they impact your rack rate months away when you can see higher profits. Smart hoteliers view revenue management as a strategic way to improve profits.

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Revenue management can sell a 3-star hotel room for 1000 euros a night: here’s how  

eHotelier

Revenue management can sell a 3-star hotel room for 1000 euros a night: here’s how - Insights There’s no limit to the rack rate if the demand is there. Revenue managers use data to predict market rates, not feelings.

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Your hotel dynamic pricing guide: an overview of all price tags

eHotelier

Ready to boost your hotel’s profits? It starts with dynamic pricing. You can adjust for other factors with the correct bottom and starting prices.

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Hotel peak season: Strategies for small hotels

Little Hotelier

You don’t accept reservations at specific discounted rates for multiple night stays extending into the sold out period. Guests who want to stay beyond the maximum length of stay period can be charged rack rate for subsequent nights.

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Hotel Pricing Strategy: 9 Key Factors To Drive More Bookings

STAAH

Bundled packages or value-added pricing where some complimentary services are added without reducing the rack rate is also a commonly applied strategy to grow revenue. Similar to upselling, cross-selling encourages guests to book additional services, such as spa services, tours, and airport transfers to grow revenue.

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4 Hotel Marketing Tactics Hoteliers Need to Employ Now

Social Tables

Create an Event Planner Package to price out rack rates and offer a bundled price. During the early stages of the planning, both sides will waste time negotiating prices for these perks that both sides know the hotel is eventually going to offer at some discounted rate. Click To Tweet. Skip negotiations over event perks.

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The Ultimate Site Inspection Checklist & Guide for Planners

Social Tables

Approximate taxi fare from the nearest hotel and/or airport Room overview Total number of sleeping rooms Total number of suites Rooms with king beds Rooms with queen beds Rooms with 2 double beds Rooms with twin beds % non-smoking rooms Rack rate for singles, doubles, and suites Group rate for singles, doubles, and suites Complimentary rooms available (..)

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