When Should Hotels Use Rate Restrictions?
Rate restrictions empower hoteliers to control when and how rates can be booked to increase reservations during off-peak periods, encourage longer stays, and otherwise manage guest flow and increase revenue. Though the best time to use various restrictions depends on your unique property and market, keep these general guidelines in mind to increase yield and […]
Dynamic Pricing and Loyal Guests: Will It Scare Them Away?
***Guest post from RoomPriceGenie, a WebRezPro partner*** There’s a saying: “You know you’re priced right when your customers complain—but still buy.” While not exactly the warmest sentiment, it reflects a real-world truth: pricing is a balancing act between maximizing revenue and maintaining guest trust. For many hoteliers, especially those who pride themselves on guest loyalty, dynamic […]
Is Your Hotel Revenue Management Strategy Working?
Hotel revenue management is a complicated process with a simple goal: to maximize revenue. It’s about analyzing demand and honing what you offer to sell the right product to the right customer at the right time, on the right channel, for the right price to grow profit. If your hotel’s bottom line is bottoming out, […]