Pricing Rooms for Accommodation Suppliers

Since hoteliers offer multiple rates for essentially the same room type it is critical to understand the importance of pricing and all it encompasses. This course explores strategic pricing and the various pricing-related elements.

Duration: 3 Hours

Department: Revenue Management

Level: Essentials

Start: Flexible

Pricing is a key tool for maximising hotel revenue. This course explores how hotels set different room rates based on customer demand, booking behavior, and market conditions.

You will learn

How to price different room types.
Common pricing strategies, including:
- BAR, Rack, Group, and Corporate rates
- Tactical vs. Strategic pricing
- Mobile-only and Wholesale rates
- Static vs. Dynamic pricing
- Event and Corporate pricing
- Opaque and Length-of-Stay pricing
- Loyalty and Closed User Group rates
- Room premiums, packages, promotions, and discounts
The impact of discounting on revenue.
Pricing influences such as anchor and decoy pricing.
How lead time affects pricing decisions.
Displacement analysis and contract pricing.
Technology used to monitor and manage hotel pricing.