room pricing
Quoting Higher Rates and Overcoming Objections Regarding Rate/Availability Restrictions
Doug Kennedy | February 6, 2024
Doug Kennedy’s Next Training Webcast; Complimentary Registration Now Open Sponsored By Travel Outlook, Better Talent, and Track Hospitality Software Register your team and participate live, or view the recording, of Doug Kennedy’s next 40-minute training webcast scheduled for Monday, February 19, from Noon – 12:40 pm EST. REGISTER HERE “As many resorts, vacation rental companies, and hotels enter the peak booking season, now is a great time to train your reservations team on tactics for successfully selling the higher rates that your revenue managers have most likely rolled out this year,” said Kennedy. Due to today’s h...
The Final Check-Out: Bidding Farewell to Undisclosed Mandatory Resort Fees
Mark Adams | December 20, 2023
By Mark Adams, Experienced trial lawyer and a member of JMBM’s Global Hospitality Group® and Chinese Investment Group™ Presently pending in the U.S. Senate is a bipartisan-supported bill that would do the same. These bills join state governments, federal authorities, state attorneys general, and consumer advocacy groups in intensified scrutiny of undisclosed mandatory resort fees included in hotel rates. Additionally, several state attorney generals and consumer groups are targeting hotels that charge undisclosed resort fees. In response to this developing trend, it is imperative for hotel owners to quickly implement full transp...
Why Rate Parity Still Has To Be “The Law of the Land” in Hospitality?
Max Starkov | November 14, 2023
By Max Starkov There was a recent discussion on LinkedIn about the need for maintaining rate parity in hospitality and its implications. Just to clarify for the non-revenue management folks here, Rate Parity traditionally means maintaining the same publicly available rate for the same room/same stay across all public distribution channels i.e. channels available to any member of the public that is not a loyalty member or member of some guest appreciation or reward program. Rate Parity is not a new online policy specifically designed for the OTAs. It existed long before the “commercial internet" came into being and there was only ...
Agility in Pricing Enables Brera Apartments to React Swiftly to Market Changes
IDeaS | October 18, 2023
Founded with the mission to provide long‐stay guests with a home away from home, Brera Apartments has consistently delivered high‐quality stays for business travellers, new job holders, and relocators. Every Brera apartment is equipped with a kitchen and strategically located near employers to facilitate convenience for guests, whose average stay lasts around 30 nights. However, with a continuously growing number of apartments, the manual pricing and setting restrictions became challenging. The company needed a solution to optimize operations and maintain profitability amid their expansion. Integrating SIHOT + IDeaS Brera was a...
The Psychological Shift When Increasing Nightly Rates
Adam and Larry Mogelonsky | August 30, 2023
By Adam and Larry Mogelonsky However much we think of dynamic pricing and yield management as a science, there’s still an art to it because underpinning every hotel reservation is human emotion. To help explain concepts like this, a little numerical exploration can really shine a light on things. Let’s start with smaller numbers to give this an opening perspective. We’re both big fans of wine, so consider a bottle of table wine. Imagine that the marketing gurus at whichever the chosen wine brand is have a chat and decide that the optimal price for this bottle is a clean $10.00. But that’s a full four digits, and you well know fr...
Charging Four Figures in 13 Critical Steps
Adam and Larry Mogelonsky | March 8, 2023
By Adam Mogelonsky, Larry Mogelonsky There’s something special about crossing the threshold of $1,000 per night. With inflation roaring through the world, many properties – luxury, upscale or otherwise – are approaching this event horizon. But with it comes a profound psychological shift in guest expectations. Unless, say, yielding from $859 per night to $959 per night, this particular move involves customers seeing an extra digit in the price tag – the perception of the increase is disproportionally greater. This same principle is why retailers charge $9.95 instead of a flat $10.00; it appears cheaper. In the back of every gues...
Pensacola Beach Is Florida’s Priciest Summer Destination, Survey Shows
Cheaphotels.org | July 15, 2022
MIAMI, Fla., July 15, 2022 -- Pensacola Beach, a barrier island anchored at the western tip of Florida, is the priciest summer destination in the Sunshine State for hotel stays this year, according to a survey by Cheaphotels.org. The survey compared the cost of accommodation across 40 popular Florida destinations for July and August. For each destination, the price for the cheapest available double room was established. Only hotels located close to a beach or in the city/town centre, and with 3 or more stars, were taken into account. With an average rate of $295 per night for the most affordable double room, Pensacola Beach em...
