Hospitality Net

MAY 25, 2023

You’re familiar with this model when considering your rack rate vs. your bottom prices. Those bottom prices may not cover much more than your costs, but they impact your rack rate months away when you can see higher profits. Smart hoteliers view revenue management as a strategic way to improve profits.

Rack Rate 234

Rack Rate Revenue Management Revenue Management 234

Mews

JULY 16, 2024

What are rack rates in hotels? Rack rates are essentially the starting point for a hotel room’s pricing — think of it as the highest price before any discounts or special promotions kick in. Sometimes you'll hear it called the walk-in rate or retail rate.

Rack Rate 52

Rack Rate Retail Hotels Revenue Management 52

Hotel News Resource

SEPTEMBER 19, 2024

Article - Rack Rate: An Easy-to-Understand Definition For Hoteliers - Gone are the days when prospective guests had to look above the 'Room Rack' to see the various prices for hotel rooms.

Rack Rate 45

Rack Rate Hotels 45

Hotel News Resource

OCTOBER 17, 2024

Article - Hotel Rack Rate: Definition and Strategies to Maximize Event and Group Bookings - By Heather Apse - Here’s how hotels can use rack rates to boost their revenue when catering to these larger bookings.

Rack Rate 45

Rack Rate Events Revenue Hotels 45

eHotelier

AUGUST 2, 2023

Revenue management can sell a 3-star hotel room for 1000 euros a night: here’s how - Insights There’s no limit to the rack rate if the demand is there. Revenue managers use data to predict market rates, not feelings.

Revenue Management 98

Revenue Management Rack Rate Revenue Management 98

Social Tables

AUGUST 31, 2017

Create an Event Planner Package to price out rack rates and offer a bundled price. During the early stages of the planning, both sides will waste time negotiating prices for these perks that both sides know the hotel is eventually going to offer at some discounted rate. Click To Tweet. Skip negotiations over event perks.

Hotel Marketing 79

Hotel Marketing Rack Rate Market Marketing 79

STAAH

MAY 16, 2023

Bundled packages or value-added pricing where some complimentary services are added without reducing the rack rate is also a commonly applied strategy to grow revenue. Similar to upselling, cross-selling encourages guests to book additional services, such as spa services, tours, and airport transfers to grow revenue.

Revenue Management 96

Revenue Management Occupancy Upsell Revenue 96