Develope Your Best Hotel Pricing Strategy Now
Choosing your best pricing options for consistently increasing profits while delighting guests can be a real headache for most hoteliers
One big issue in achieving great distribution, though, is maintaining price integrity. Since the goal is to engage the user to remain on your brand website, making full use of your booking engine within your CRS is essential, particularly by using persuasive messaging. Remember, the goal is to get guests to convert in “the moment.”
You probably spend a lot of time controlling your online marketing campaigns. So, build up your experience with the mechanics of meta-search-engines and other online platforms by putting more emphasis on targeted distribution of your online budget, and by also engaging in performance measurements more often.
It’s time we all stop worrying about the past and start using our own amazing powers of innovation to get to work! This means thinking holistically because pricing is only a tiny piece of your brand offering and most of the time and, according to Alejandro, not even the most important one. Also, realize that you haven´t really lost the fight for bookings with the OTAs, but you do need to act fast now to make sure you don’t.
While some of what we discussed requires more planning and strategy before execution, there are plenty of things you can do right now to improve your hotel’s pricing strategy and outcomes.
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