Plan an effective hotel revenue management strategy
Hotel revenue management is a serious matter and it involves a series of different key indicators. RevPAR – alongside with ADR – is the metric you look at and we’d like to help you increase it by granting you a higher occupancy and boosting your profitability.
Optimizing your prices on eDreams ODIGEO Connect – as on all your distribution channels – is important to make sure you turn our flight customers into yours.
It is critical in these cases to use historical data for your property. Also, your plan should take into account your competition and adjust accordingly.
A good way of differentiating yourself from the competition is to offer customized promotions, truly targeted at your audience. On our Extranet, you have the chance to create promotions for different markets to be sure you address all your potential customers. Also, you can have an impact on your RevPAR by adding a minimum and maximum Length Of Stay (LOS) to maximize the effect of your promotion.
The idea is not to just lower your rates, but rather to show to customers the value they are getting. Lower rates don’t automatically mean more demand: Your hotel revenue management strategy needs to be well thought to be effective. Perceived value is actually much more relevant than actual value.