Tag: Revenue Management
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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…
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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…
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Upselling
Upselling in the hospitality industry refers to the practice of encouraging guests to upgrade their current booking or purchase additional premium services or amenities that enhance their stay. It is a key strategy to increase revenue per guest while also improving their overall experience. How Upselling Works Upselling is typically offered during: Examples of Upselling…
Reza Karbaschian 