While many hotel chains have started focusing on pricing to boost profit potential, many still lack professional processes in the area, with limited understanding of basic pricing concepts at the hotel level and the need for more decision making by top management. A series of profit initiatives can help, including making sure the price-value position of the hotel is correct, enforcing terms and conditions effectively and indexing rates correctly, and challenging or defining your dynamic pricing model.

Full Story:
Hospitality Net

Related Summaries