Past Webinars

Precision Pricing: Crafting the Perfect Rate Plans and Promotions

Whether you're a revenue manager, marketer, or hotelier, this session will provide you with actionable strategies to refine your pricing and distribution approach!

Dec 17, 2024
-
3:00 pm
(CET)
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Webinar Recap

In our recent webinar, Enzo Aita explored how precision pricing is revolutionizing hotel revenue management. The discussion emphasized the importance of moving beyond generic pricing models to a dynamic, data-driven approach that ensures the right rate reaches the right guest at the right time through the right channel.

With HyperGuest, hotels can optimize pricing strategies while minimizing distribution costs, maintaining full control over rate plans, and maximizing revenue. By segmenting guests based on channel, travel purpose, and booking patterns, hoteliers can craft tailored rate plans and promotions that align with both guest expectations and revenue goals.

The webinar also covered the significance of leveraging innovative tools like HyperGuest Marketplace to expand reach, reduce reliance on high-cost intermediaries, and implement effective pricing tactics such as last-minute deals, geo-targeting, and strategic bundling. Ultimately, success in pricing requires a balance of flexibility, data-driven decision-making, and strategic execution to remain competitive in today’s hospitality landscape.

Topic

Speakers

HG Team Attendees

Video Recording

Location

Key Takeaways

  • Optimized Revenue Management: Precision pricing helps hotels shift from static rates to a dynamic model that maximizes revenue while maintaining rate integrity.
  • Full Control with HyperGuest: Hotels can leverage HyperGuest to distribute rates efficiently, minimizing distribution costs while expanding their reach.
  • Strategic Segmentation: Effective pricing strategies consider guest segmentation by channel (direct, OTA, B2B, GDS), travel purpose, and booking patterns to tailor offers accordingly.
  • Tailored Rate Plans: Hotels should diversify rate strategies, including flexible standard rates, experience-based packages, early bird discounts, and last-minute deals to capture demand efficiently.
  • Creative Promotions: Seasonal campaigns, geo-targeted offers, and exclusive membership deals help drive bookings while maintaining rate consistency.
  • Smart Last-Minute Pricing: Implementing "Run of House" categories at a controlled discount ensures incremental revenue without undercutting standard room pricing.
  • Geo-Targeting for Market Expansion: Offering exclusive rates based on traveler origin can help hotels penetrate new markets and attract high-value guests.
  • Technology-Driven Advantage: Harnessing HyperGuest Marketplace provides hotels with a cost-effective "go-to-market" strategy that enhances visibility and direct distribution.

Ready to elevate your pricing game?

Reach out to the HyperGuest Account Management team at am@hyperguest.com for tailored advice.

Join the Webinar

December 17, 2024 3:00 PM