Showing items in the "Pricing" category

Preparing Your Pricing Strategy for Recovery

One common reaction in times of crisis is to dramatically reduce your hotel’s average daily rate (ADR) to boost near-term revenue. Instead, go back to the basics of your pricing strategy to adapt to this ever-changing landscape.

Revenue Predictions About Reopening

HSMAI’s Revenue Optimization Advisory Board (ROAB) met on a call May 7 to discuss further implications of the coronavirus, in particular how hotels are thinking about reopening. Here are a few takeaways from the discussion.

Pricing Best Practices

Insights from Damiano Zennaro, Director, Global Advisory Services, IDeaS Revenue Solutions and member of HSMAI Europe Revenue Optimisation Advisory Board.

Pricing Psychology in Challenging Times

As the coronavirus continues to spread, many hoteliers are wondering how to adjust their revenue strategy. Carter Wilson of STR presented data from the 2009–2010 recession to illustrate the implications of dropping prices versus holding steady during low-demand periods as part of a program in HSMAI’s Confronting Coronavirus webinar series.

The Future of Pricing

This paper explores the current state of revenue management and the approaches used by revenue management systems (RMS) to support hotel revenue management; new trends in revenue management systems and analytics that are shaping the future today; and makes recommendations regarding RMS approaches and trends that hoteliers should consider, based on their specific market and strategy.

Research in Action: Effects of Minimum Wage Increases

At HSMAI’s ROC 2019, six college and university faculty members from hotel schools presented research in areas related to revenue management in the hospitality industry. During one of the presentations, Dr. Toni Repetti of the William F. Harrah College of Hospitality at the University of Nevada, Las Vegas, discussed research on the effects of minimum-wage growth on restaurateurs.

Get Their Hands Out of Your Cookie Jar!

The Lightning Round is a signature program at HSMAI’s ROC event — giving six revenue optimization executives just six minutes and 40 seconds each to share a best practice, strategic…

Why rate management is not revenue strategy

There is a distinct difference between “rate management” and “revenue strategy,” although for some hotel teams, the line between the two may have blurred over the years. Read the insights…

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