What is a good hotel pricing strategy?

Felix Kraemer

Co-founder, JF Hospitality

“I guess seasonal and fixed pricing. ... That means they do something, but they are not doing dynamic pricing or they are not reviewing demand and increasing rates or lowering rates based on their needs.”

Eric Moeller

Founder & CEO, Freewyld

“they'll check it once or twice a week, maybe once, twice a month. Right. And the tool will do a good job at running within those guidelines that you set. but it won't ever maximize your revenue. ... the first step is deciding who's going to own revenue in your company. ... you have to be in that tool every single day.”

“how close they are towards their own property and how how emotionally involved they are with their prices, can be a very big obstacle for for a lot of smaller properties and mainly, owner operator. Where where you see that they're struggling, especially in undervaluing their product, I think that's that's the most common thing you see.”

“we always say if you get fully booked more than thirty days before arrival, your price was too low, especially from a numbers perspective point. ... it always could have gone differently, but you can only sell the room once.”

Moustafa Ahmed

Cluster Reservations Manager, Banyan Tree Dubai

“it's very easy actually to fill a hotel with some customers, like you're having a 90%. But what is your pricing strategy? What is your average daily rate, or what is your RevPAR? So, you know, all these actually are connected.”