Thank you Mr. BB for your feedback. Would you be interested in a longer format? For every video we make with a partner we have a 1-2 hour conversation. would a unedited version be something you are interested in? Cheers, Elisha
Great video! I understand lowering rates to increase revenue during low occupancy periods, but how can the property avoid losing brand integrity if a 5 star hotel fills its occupancy with 2 or 3 star travel rates ? Could dynamic pricing discourage higher paying travelers from returning?
Dear Aaron G, Thank you! It is always a balance and clearly if your discounts are getting to high you might risk you brand. It is a combination of the market, your competition, the target segments you have, reviews and reputation. To goal is clearly not for a 5 star property to price at 2 or 3 starts. But maybe if you have forecasted low occupancy periods start off early being just above the 4 start properties around and then slowly increase if reservations pick up. Really good approaches are also increasing value with out changing prices. Including amenities, creating packages, adjusting cancelation policies. This way you can get more value for your guest with out reducing the price. We have a LiveSession planed in the upcoming month about revenue management. Feel free to check that out and ask more live questions there!
Very interesting video, i wish it was longer 🙏
thank you muhammeda.8769 for the feedback! will try to publish the full interviews in the future.
This was short but informative
Thank you Mr. BB for your feedback. Would you be interested in a longer format? For every video we make with a partner we have a 1-2 hour conversation. would a unedited version be something you are interested in? Cheers, Elisha
Did u release the full version of this interview by any chance? Thanks for the work
very nice and very helpful
Hey Abdul Mueed, thank you very much!
Great video! I understand lowering rates to increase revenue during low occupancy periods, but how can the property avoid losing brand integrity if a 5 star hotel fills its occupancy with 2 or 3 star travel rates ? Could dynamic pricing discourage higher paying travelers from returning?
Dear Aaron G, Thank you! It is always a balance and clearly if your discounts are getting to high you might risk you brand. It is a combination of the market, your competition, the target segments you have, reviews and reputation. To goal is clearly not for a 5 star property to price at 2 or 3 starts. But maybe if you have forecasted low occupancy periods start off early being just above the 4 start properties around and then slowly increase if reservations pick up. Really good approaches are also increasing value with out changing prices. Including amenities, creating packages, adjusting cancelation policies. This way you can get more value for your guest with out reducing the price. We have a LiveSession planed in the upcoming month about revenue management. Feel free to check that out and ask more live questions there!