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.

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Rack Rate Events Revenue Hotels 45

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.

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Rack Rate Retail Hotels Revenue Management 52

Hospitality Net

MAY 25, 2023

Smart hoteliers view revenue management as a strategic way to improve profits. 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.

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Rack Rate Revenue Management Revenue Management 181

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.

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Revenue Management Rack Rate Revenue Management 98

STAAH

MAY 16, 2023

Setting the right price for your hotel rooms is crucial for driving revenue and maximizing profitability. Hotel room pricing is a critical element of revenue management for hotels. If you are new to Revenue management and would like to know more, read our in-depth ebook to help you understand better.

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Revenue Management Occupancy Upsell Revenue 90

Hotelogix

AUGUST 21, 2024

The night audit process aims to collate revenue against various revenue heads. This is when most revenue centres and Hotel POS outlets at a hotel are closed, making it the ideal time. Verify room rates Comparing guest registration records with room reports is mandatory to ensure rack rates and actual rates are the same.

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Revenue Average Daily Rate Rack Rate Hotels 52

Social Tables

AUGUST 31, 2017

Some of the best sources of revenues for hotels are events, meetings, and conventions. Create an Event Planner Package to price out rack rates and offer a bundled price. Create an “ Event Planner Package ” that lists all of these perks at their rack rates and then offers a single bundled price.

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Hotel Marketing Rack Rate Market Marketing 79