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.
Courses
Pricing Rooms for Accommodation Providers
Duration: 3 Hours
Department: Revenue Management
Level: Essentials
Start: Flexible
Pricing strategies allow hotels to charge different room rates for the same or similar rooms according to customer characteristics and needs.
As hoteliers offer multiple rates for essentially the same room type it is critical to understand the importance of pricing. This course explores strategic pricing and the various pricing-related elements.
You will learn:
- How to price your different room types
- Different types of pricing explained including
- BAR, Rack, group, corporate etc
- Tactical vs Strategic pricing
- Mobile only pricing
- Wholesalers, static vs dynamic rates
- Corporate & event
- Opaque pricing, length of stay pricing
- Loyalty clubs and closed user group rates
- Room type premiums
- Packages, promotions, discounting
- Understanding the impact on discounting
- Understanding the influences on pricing including decoy and anchor pricing
- Lead time and its impact on pricing
- Displacement analysis
- Contracts
- Technology available to monitor and manage pricing
$65.00
Train your team:
Enterprise pricing available for this course.
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