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Emerging Pricing Trends in Hospitality

Pricing for any type of product or service, let alone lodging, is nothing new. Any “Marketing 101” textbook will tell you that Price along with Product, Place and Promotion make up the “4-P’s of the marketing mix.” Pricing too has been in place far longer than the practice of Revenue Management, which, among many other

VII CONGRESO HOTELERO: “LA NUEVA OFERTA V/S LA NUEVA DEMANDA”

El VII Congreso Nacional de Hoteleros de Chile, es un encuentro de negocios, perfeccionamiento y camaradería, dirigido a la industria hotelera chilena. Organizado por la Asociación de Hoteleros de Chile A.G se realizará en la ciudad de Iquique, los días 1 y 2 de octubre de 2015. El evento tendrá lugar en el Hotel Gavina.

ADR, not occupancy, drives RevPAR, study finds

A 10-year study of 4,000 hotels in Europe found price positioning is a better indicator of RevPAR than is occupancy. By Keith Loria HNN contributor GLOBAL REPORT—Price positioning plays a larger role in driving revenue per available room than does occupancy for European hotels, according to a recent study titled “Competitive hotel pricing in Europe:

Revenue Management: An Overview on Past, Present and Future

A Historical Perspective The airlines are credited for developing the foundational science behind revenue management. Almost since the beginning of commercial flight, airlines had attempted to maximize their revenues by focusing on filling as many seats as possible on every flight. This meant predicting how many booked passengers would show up for a flight and

A Practical Guide to Competitive Set Selection

Determining a competitive set is something those in the hospitality industry do routinely, however, these selections can have lasting effects on market positioning and performance and ultimately, asset value. The three most common reasons for competitive set selections include pro forma development, market positioning and performance benchmarking. Selecting an appropriate competitive set and evaluating this

Top 10 Revenue Management Issues for 2014 and Beyond

Growing pains (again) may best describe what the revenue management profession is going through today. The role of revenue management in the hospitality industry continues to evolve, but it does so in fits and starts. As we look into 2014 and beyond, there are several significant issues that organizations will need to address in order

Pricing Techniques for Revenue Management Professionals

The function of pricing is a pivotal component of revenue management that requires practitioners to thoughtfully consider various influences in order to develop a strategy that best fits. It should be stressed that pricing is not synonymous with revenue management but is rather, one activity within a greater process which includes other elements such as