01/04/2021
Pricing
By driving prices up during high peak periods and knowing how much to discount prices by to ensure rooms are rented during low peak periods, hotels can maximise their return. Through dynamic pricing, businesses can provide discounts and incentives in a controlled way during different seasons.
Distribution.
Hotels generally advertise their rooms through multiple channels, such as online travel agencies, to optimise reach and promote sales. Distribution management is essential and this involves calculating the minimum numbers of rooms needing to be sold for any given period by each channel. In doing so, you then have the ability to make informed choices regarding reallocation from cancellations or where to list spare rooms to maximise sales.
Market segmentation
Being aware of your market and the variable preferences, demands and affordability of different demographics are paramount to understanding how to price and distribute your room sales across the various channels. Not only does this help in managing your existing rooms, but it can also allow you to capture more of the market and increase sales and revenue. Flexibility is an important virtue required of hoteliers and being able to understand your clientele and adapt to their needs is vital to building loyalty and guaranteeing profitability.
hotel inventory management
