Stressed worrying about adjusting rates based on continually changing market demand for any given night? With a powerful rate management tool incorporated into your hotel Property Management System (PMS), you can help eliminate stress through automatic rate setting and optimization. How? Through a 'Best Available Rate' (BAR) pricing strategy. A Best Available Rate pricing strategy… Continue Reading Why is Rate Management Important?
Minimizing operating costs while continuing to maximize property performance is something every hotelier aims to achieve. One way to impact a hotel’s bottom line is to switch to a cloud-based property management system. Identifying the operational areas that would benefit most from a 100% cloud-based system are one of the keys to improving efficiency within… Continue Reading How to Improve Efficiency & Profitability
Be Open with your Rate Management Being flexible with rate management allows hoteliers to think in creative ways that can make hotels more money. The newest iteration of revenue management; understanding the total value of the customer rather than just what they pay on rate. Time for a quick quiz. Which guest is more… Continue Reading The Newest Iteration of Rate Management – Part 8
It’s time to cozy up to the BAR That’s Best Available Rate, of course, and by focusing a revenue management strategy around Best Available Rate, hoteliers are successfully pushing the average rate charged per room by more accurately leveraging the all-powerful supply vs. demand equation. However, to fully maximize the opportunity to charge the… Continue Reading Being Flexible with your Rate Management – Part 7
The hotel industry is often up against it when it comes to room rate management. There is not only revenue per available room (RevPAR) to think about, profits and the bottom line, but also about how to increase RevPAR and somehow attract and please guests at the same time, season by season, even day by… Continue Reading Automated Rate Management: The Star of your Hotel Software
