Price optimization for hotels
Use the revenue management tool & increase your turnover by up to 25%
How do I optimize my room rates?
To date, there is no generally valid magic formula for determining the prices of a hotel. Especially in medium-sized hotels, price optimization is often neglected and prices have existed for several years. reasons why rates Competition between the surrounding hotels, which influence the price war, usually needs to be optimized. Other strategic orientations are usually completely missing. There is so much to consider!
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Your support with happyhotel
Price optimization starts with analyzing your data. You must recognize in good time whether to raise your price or to lower the price. happyhotel helps you to work with dynamic prices.
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What are the benefits of optimized prices?
Dynamic prices help to increase sales. Many hotels do not adjust their prices because they are afraid of offering too low or too high room rates. At the same time, they fear that they will miss out on potential sales. For example, on a less busy day, it may be better to lower the price in order to increase utilization. In the short term, spontaneous travelers often pay more because occupancy determines the price. If a region is heavily visited due to a trade fair, for example, it makes sense to raise the price accordingly. The hotel feels that occupancy is high and guests are willing to pay a higher price.
Optimization for more sales!
Hotels should not miss out on the opportunity to optimize prices and react in good time. With happyhotel, you can do this conveniently and easily.
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Price optimization on holidays
Further optimizations and arrangements on public holidays, trade fair days or special promotions are just as easy to implement, but this often doesn't even come to that. However, the goal should be to work with dynamic prices and adjust prices to demand and thus generate more turnover.
Optimize your prices
Afraid of cheap prices?
Of course, the hotelier should be aware of what his low price is. However, the decision should not simply be based on instinct, but calculated and deliberately planned. Because if a room rate is too low, it can appeal to a completely different target group, which can be an advantage as well as a disadvantage. It should also be remembered that a guest should turn into a regular guest , he will stay at the hotel more often and this guest will automatically leave more revenue on the next bookings.
Price optimization — leads to more hotel success & profit
Far too often, optimal pricing is carried out far too rarely in the hotel industry. The biggest problem is that the hotelier often does not know what to orient himself on. Is it just the competition or actually you also have to see whether a change in the room price is also economic for your own business. For now, the cornerstone of every change is budget, i.e. what do I want to achieve and what costs do I actually have in my company. If these sales, profits and costs have been calculated sensibly, then the calculation can begin.
Data for evaluation
This requires data such as workload, double occupancy factor, BWA, variable costs and fixed costs.
Get prices in advance
It is particularly important to predict prices! Because it's no use for hotels to only know afterwards that they could have charged more money or that occupancy was too low. happyhotel recognizes early on when the price can be changed. Based on these figures, the happyhotel hotel software automatically calculates the optimal room rate for each category in advance! The hotelier or revenue manager can now compare their current room rates with the optimal room rates. He can set them in relation to competitors' prices and then adjust them if necessary.
Quick and safe: Data-based forecasts adapted to your hotel and your needs!
Better predictability: With happyhotel, you already know your prices months in advance!
What do you need for price optimization?
To analyze prices with happyhotel, all you need is a few pieces of data:
Analyze your PMS data
The hotelier searches for the necessary data and enters it into his account at happyhotel. He can add special events such as trade fairs, meetings or events to his calendar and can work with this price calendar. The calendar gives price recommendations and helps hotels make statements and prices for the future months.
Optimize your pricesand convince yourself
Forget manual price adjustments. With happyhotel, you can maximize your income without constantly checking prices.
