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For years, the gold standard guiding business strategies for hotels has relied heavily on historical data, analyzed a few times a year (at best), making it difficult to swiftly respond to changing market conditions. For hotels, this includes making dynamic rate suggestions and identifying segments and offers for marketing campaigns.
Over time, tracking your competitors’ pricing and market position reveals shifts in rates and guest preferences, allowing you to anticipate changes and adapt your pricing and marketing proactively. FREE GUIDE Dive deeper into the history of revenuemanagement. Understand trends.
Understanding and maintaining rate parity is crucial for hoteliers as it influences pricing strategies , revenuemanagement , and the potential profitability of the business. This led to the team having to frequently make manual updates to prices across online travel agents (OTAs) to avoid issues with these key partners.
Headed up by Scott Boyes as CEO, Tony Ryan as Executive Chairman and Grant Alchin as Chief Operating Officer, the trio bring a collective industry experience of more than 90 years, extending across operations, commercial and legal, finance and asset management. Add to that, a growing team of experienced hotel industry leaders.
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