Take Advantage of Dynamic Pricing to Increase Your Profits

Due to its simplicity, flat pricing is a common tactic used by hotels all over the world. They normally rotate between one or two season rate charts. This has become standard practice because it is quicker to make changes than manual updates of hotel rates based on changing demand, seasons, and other variables. In today's changing world, a flat pricing approach might be expensive. Hotel owners can overcharge customers and lose bookings or undercharge them and lose the chance to make more money. Modern technology has made it possible for hotels to immediately address this issue by utilising the power of dynamic pricing. Many automated hotel revenue management system provide a dynamic pricing capability that enables customers to alter room rates in response to shifting demand and market conditions. Through AI-based dynamic price recommendations, you can effectively optimise automated hotel revenue management system.

Timely response to shifting demands

You can't just set hotel room prices once and forget them; they should be dynamic. Dynamic pricing only makes sense when used in conjunction with the newest technology-driven automated pricing solution, as we have already covered above. Users of automated hotel revenue management systems (RMS) with dynamic pricing capabilities can adjust prices in accordance with the constantly shifting demand trends. It has a direct effect on the revenue and profit margins of hotel operations.

Recognise the value you offer and set your prices appropriately

Studies reveal that hotels, particularly independent ones as opposed to large chains, typically keep their rates cheap because they believe:

● Price increase could have a negative effect on their ranking and reviews.

● Their devoted clientele have grown accustomed to their prices.

● Another prevalent factor preventing hoteliers from charging high rates is the fear of vacant rooms.

Increase Your Profits with Pricepoint

Hotels may increase bookings and income by using Pricepoint's completely automated hotel revenue management system. Our software is simple to incorporate into your PMS or channel management. Pricepoint uses AI-driven dynamic pricing and notifies OTAs of the best prices in real time.