What are the main Revenue Management trends in 2020?
Open pricing allows hotels to choose all types of segments, channels and room types in real-time. This gives a Revenue Manager new and better insights into demand. Rates har no longer adjusted based on single BAR rate, allowing for an open approach to pricing.
Based on several data sets, hotels can present rates and packages tailored specifically to each guest that visit their website. Rates and offers are based on an individual's total value, or worth to your hotel.
The best pricing strategies are based on the understanding that hotel pricing fluctuates and can change from one second to the next. This is why you should never be afraid to continuously change your rates and work with dynamic pricing.
Customers actually expect fluctuating prices over time – most businesses where consumers spend money are varying their prices based on demand, supply and shifts in costs.
Effective hotel revenue management strategies can help hoteliers to:
Make more accurate forecasts and better manage resources like staff and other variable costs- 8
Secure the most effective distribution channel strategy to promote your hotel
Atomize Revenue Management Software handles your revenue management tactics by optimizing your price adjustments in real-time. The Atomize pricing algorithm decides the optimal room rate at any time in order to sell at the best price level and maximize your hotel revenue.