Sell at the right price, to the right person, at the right time
Everyday, your local market and competition are changing, different customers are thinking about booking. Charge the ideal price at the right time and grow your revenue
Getting revenue management right is essential
Your price needs to be adjusted to every customer – are they leisure or business, last minute or booking far ahead? Are your competitors charging less or more than you? If you accept this customer, will you miss out on a customer who would bring more revenue? You need to set one price for that customer but if your price is too low, you are missing out on revenue and if your price is too high, you don’t get the customer at all.
Good revenue management takes a combination of experience, tools and data
How do you build a pricing plan for the year? As competitors change their prices, how do you adapt the plan week by week or even day by day?
You need experts who know what information is needed and what decisions to make. Pricing requires specialist revenue management software, but you also need core elements like a channel manager to connect to the OTA (Online Travel Agencies) and a booking engine to take direct bookings on your website.
A huge range of data goes into setting the optimal price, from visitors to your website, feeder markets to your region, calendar impacts of those visiting (such as school holidays), local market events, previous trends, future events and competitor data
RegiÔtels is the perfect partner
Our experts have huge experience of working with hotels of all sizes, from the largest chains to single independent properties. Partner hotels see big improvements in revenue with our pricing plans. We also have experience of working with a huge range of technology partners and tools. We can advise on the most cost effective options and support with integrating any new tools seamlessly with your existing technology and partners. With everything in place, decisions can be made and prices updated quickly and with minimal effort
Working with RegiÔtels is easy
Before we do anything, we develop a revenue strategy working together with our partner hotel. We then help with implementation of any new technology, which may include guidance and training. Once everything is in place, we discuss with partner hotels on a regular basis to agree specific actions for the coming period. We are very flexible: some hotels want to be involved in the detail of decisions, while others are happy for us to carry out the necessary actions within the strategy which they agreed at the start.
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