Welcome to the Friday Freebie!
Each week we share one impactful hotel marketing tactic that you can implement immediately to drive more conversions and more revenue.
This week’s freebie: Smart hoteliers are pulling the curtain back on their booking engines to find which room types are highest in demand by the day. This vital piece of data allows them to price each room type accordingly for maximum revenue.
More than just a vehicle to book rooms, your hotel booking engine is a goldmine of profitable data. But, only if you take the time to pull it up.
One piece of booking engine data that can dramatically drive your room rates is the demand for different room types.
Usually, revenue managers monitor the ups and downs of your hotel’s bookings by date. However, this single-focused method means you’re missing out on pricing optimally based on various room types.
If you examine closely, you could find a higher demand for double rooms Thursday thru Sunday. This would justify pricing the rate higher than the standard rooms over those days.
If you continue to focus your revenue management decisions based only on your entry-level inventory, you’re only revenue managing a tiny fraction of your entire property.
Get more examples: Three Secrets Your Hotel Booking Engine is Dying to Tell You
Tambourine uses technology and creativity to increase revenue for hotels and destinations worldwide. The firm, now in its 34th year, is located in New York City and Fort Lauderdale.
Please visit: www.Tambourine.com