Dynamic Pricing
For an unwavering focus on revenue
The functionality of hotel businesses is defined by their ability to meet the demand and supply. Of the several functions that depend on demand and supply, pricing is one major area that deserves focus. The revenue generated from the sale of a product is usually at its best when its supply meets the raised demand.
Dynamic pricing is the process of tweaking the prices of products/services based on the demand-supply basis in the real-time. Though a newcomer to the hotel industry, this feature has been received well across the world, mainly due to the benefits it offered in transforming the hotel revenue management system.
Dynamic pricing helps a proprietor grow their revenue when the demand is high; a few hundreds of increased tariff would reflect well on the revenue books. Likewise, during low demand levels, lowering the rates help attract guests. Dynamic pricing in a hotel results in the increased margin, market share and multiplied revenues.
The Dynamic pricing module of HotelDesk assists in varying the prices depending upon the need of the hour. The prices can be varied (both based on tariff and tax) in accordance with the rack code selected during check-in. A rack code defines which prices to follow at the specific time of operation.
A property may alter the prices according to seasons, days (varied tariffs for desired days of the week when footfall is at peak), companies (offering discounts and special fares to representatives from frequenting firms), and agents (varied pricing structure for each travel agent/channel manager).
HotelDesk has all these categories well integrated with one another and can work simultaneously in varying the prices based on the chosen racks.
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