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ResAvenue June 2021
 
Six Effective Pricing Strategies to Maximize Your Hotel Revenues
Ascertaining the best pricing for your hotel inventory is a challenging task. If you charge a higher rate than the local competition, then your hotel would miss out on opportunities; and if you charge a very low rate, it would be difficult to break even and cover your operational costs. In fact, an important part of your online distribution strategy would be to ensure that you set the right rates on the right channels at the right time.

Hoteliers have devised innumerable pricing strategies but only the most effective ones tend to contribute towards the success of their businesses. Based on our rich domain expertise and constant interactions with hoteliers, OTAs and other entities in the hospitality sector, ResAvenue has identified a handful of tried-and-tested pricing strategies that have been adopted by prominent hotels through the years.

The highly effective pricing strategies recommended by us include Dynamic Pricing, Deeper Segmentation, Forecasting-based Pricing, Competitor-based Pricing, Rate Parity and Guest Packages. These hotel pricing strategies aim to help you reach out to a larger target audience, and convert potential guests to maximize your revenue. Applying the right mix of various pricing methods will help ensure that your hospitality business is long-lasting and successful.
Six Tips to Drive Direct Bookings on your Hotel's Website
Achieving a large number of direct bookings has always been a challenging and equally rewarding task for any hotelier. In fact, one of the reasons why a hotelier may compellingly look forward to increase his Direct Bookings is to minimize the costs of OTA commission which could be as high as 15% to 30% of the gross sales value. Getting the maximum of Direct Bookings will go a long way in enhancing your revenue as you harness the full potential of your hotel booking engine. To help maximize your hotel’s Direct Bookings, ResAvenue recommends that you must optimize your website, incorporate guest reviews, avail Metasearch engines, enable social media bookings, offer Discounts & Promotions as well as adopt guest management strategies. Building the credibility of your brand is easy through direct bookings.

This may require some initiative from you at the start but the results are well worth the effort. The six tips mentioned above can help you gain better traction in terms of achieving Direct Bookings and simultaneously generate ample revenue opportunities for your hotel.
 

ResAvenue Extends a Warm Welcome
to Its New Partner Hotels
VITS Shanti Solitaire
VITS Shanti Solitaire

North Goa, Goa
The Golden Sand Hotel
The Golden Sand Hotel

Calangute, Goa
Park Elanza
Park Elanza

Coimbatore, Tamil Nadu
Elysium Garden Hill Resort
Elysium Garden Hill Resort

Munnar, Kerala
Saaral Resort
Saaral Resort

Tirunelveli, Tamil Nadu
Form Hotel
Form Hotel

Dubai, Dubai
Pawna Lake Nature Camping
Pawna Lake Nature Camping

Pune, Maharashtra
The Oberoi Hotel
The Oberoi Hotel

Dubai, Dubai
Disclaimer: We do not claim ownership over the images appearing in the Hotel list section. They are used for information purposes only and in no way are meant to claim ownership over any of the above mentioned. All photos, videos, articles, etc. are copyrighted to their original owners.
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