Hospitality Net

MAY 25, 2023

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.

Rack Rate 234

Rack Rate Revenue Management Revenue Management 234

eHotelier

AUGUST 2, 2023

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.

Revenue Management 98

Revenue Management Rack Rate Revenue Management 98

eHotelier

MAY 30, 2023

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.

Rack Rate 111

Rack Rate Hotels 111

Little Hotelier

OCTOBER 11, 2023

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.

Maximum Length of Stay 52

Maximum Length of Stay Minimum Length of Stay Overbooking Occupancy 52

STAAH

MAY 16, 2023

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.

Revenue Management 85

Revenue Management Upsell Occupancy Rack Rate 85

Social Tables

AUGUST 31, 2017

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.

Hotel Marketing 79

Hotel Marketing Rack Rate Market Marketing 79

Social Tables

APRIL 22, 2019

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 (..)

Events 102

Events Rack Rate Scale Sales 102