Tag: hospitality
-
Everything About BAR (Best Available Rate)
The Best Available Rate (BAR), also known as Best Flexible Rate, is a cornerstone of modern hotel pricing strategy. It serves as the reference point for all other room rates, influencing how hotels present their value proposition, manage revenue, and respond to market demand. Understanding BAR is critical not just for revenue managers, but for all professionals…
-
Understanding Hotel Pricing: Evolution, Strategies, and Best Practices
Hotel pricing is one of the most critical components of successful hospitality management. The price you set not only affects your revenue but also shapes your guests’ perception of value and quality. Effective pricing balances maximizing profit with attracting the right customers, ensuring both occupancy and guest satisfaction. In today’s competitive market, pricing is no…
-
Understanding Segmentation in Revenue Management
Segmentation is a foundational concept in revenue management, particularly in the hospitality industry. It involves dividing a diverse customer base into distinct groups with similar characteristics, behaviors, or booking patterns. By understanding the nuances of each segment, hotels and other service providers can fine-tune pricing, marketing, and inventory strategies to maximize revenue and enhance guest…
-
How the 2026 FIFA World Cup Could Impact Montreal’s Hospitality and Tourism Industry
The 2026 FIFA World Cup, co-hosted by Canada, the United States, and Mexico, is one of the most anticipated global events in recent years. While Montreal is not a host city, its proximity to Toronto—one of the Canadian host cities—makes it a prime destination for spillover tourism. This raises the question: How will this monumental…
-
Free Room Upgrade Strategy
A free room upgrade strategy involves offering a guest a higher-category room at no additional cost. This strategy is typically used to enhance the guest experience, manage inventory effectively, or foster loyalty. While it may seem counterintuitive to give away a premium room for free, it can offer strategic benefits when used wisely. Why Offer…
Reza Karbaschian 