Yield & Revenue Managment
- Our focus is on performance. Our winning pricing strategy ensures competitive and dynamic pricing, optimal occupancy, longer stays and better margins through sales of premium room types. Maximizing your revenue is guaranteed. We offer your hotel a full pricing strategy that will increase your profitability. This does not involve only getting your hotel on 100% occupancy, but it is the combination of several factors such as Rate, Occupancy and Reputation.
In a nutshell, nightly rates are to be defined not only according to your hotel’s positioning in the market but also based on historical data, current occupancy and prices of the competition. We offer a full pricing strategy to better meet these complex factors and we make a pricing proposal to your hotel that will ultimately increase your hotel’s profitability.
Our pricing strategy defines the rate not only for each night but also for each room type in accordance to demand and market needs. Some hotels may experience during the weekends higher demand for their upgraded double rooms while seeing very low occupancy for their single rooms. Others see an increased in demand for their triple rooms during the summer time and school holidays while these rooms are left empty during a midweek, business season. We take all these elements and compile it into a single, tailor-made pricing strategy that ensures an optimal occupancy and rates.
Targeting each one of your client group is vital for attracting lucrative business to your hotel. We analyze the booking behavior of your guests so that we can match prices with their needs and budget level. Your hotel will see growth in markets such as business travelers, long stayers, early bookers and price-sensitive guests who pay in advance.
We continuously evaluate the hotel’s pace report to get a full understanding of trends in demand. By comparing this year’s occupancy to previous years we are able identify dates that require our attention and we act accordingly.
Offers & Promotions
We create an ongoing promotions to cater to as many potential guests as possible. Early Bird Deal or Long Stay Discounts are some of the offers that we use in order to stimulate guests to book with us rather with the competition.
In setting up the correct pricing, each period has its own unique characteristics. We identify when demand is expected to be high and we allow our competition to fill up first while we wait and get late bookers, simply because there’s not much left for them to book elsewhere.
Our pricing strategy is continuously changing. We evaluate the impact of our marketing and sales techniques and when needed we adapt it. From time to time we discover that a specific action that we believed that would work for a specific target has not reached the desired results – we then re-adjust it until we reach the best possible outcome.
During high demand periods we set different, more restrictive cancellation policies so that guests, who wish to cancel, will have to do it far in advance. In this way, we minimize risks of staying with empty rooms during peak seasons where we can generate even higher revenues.
In our pursuit to maximize profits and increase length of stays, we single out dates where occupancy is higher than the night before or after. Setting up a minimum stay during this peak night or period will allow us to boost the occupancy during ‘shoulder’ nights and drive more revenue to your hotel.