Rate Quantum Revenue Management AI
Let’s talk about a common mistake we see all the time: hotels celebrating when they鈥檙e fully booked months in advance. 馃帀 Sounds like a win, right? Wrong. It means you underpriced your rooms. If demand is that strong, your rates should have been higher, securing more revenue for each booking instead of filling up too […]
For hotels in major metropolitan areas, keeping track of demand fluctuations is a never-ending challenge. Unlike smaller destinations where peak demand periods are predictable, large cities host an overwhelming number of events, making it difficult to anticipate which will drive significant hotel bookings. This unpredictability can lead to missed revenue opportunities, affecting overall profitability. The […]
Revenue management is essential for maximizing a hotel’s profitability, yet many hoteliers unknowingly make mistakes that leave revenue untapped. Identifying and addressing these pitfalls can significantly improve metrics like occupancy, average daily rate (ADR), and revenue per available room (RevPAR). Here are the top 10 mistakes鈥攁nd how to avoid them. 1. Overlooking Demand Forecasting Failing […]
How Amazon and Airlines Like American and Lufthansa Price Their Products鈥攁nd Why It鈥檚 Never Manual Have you ever wondered why the price of an airline ticket changes between breakfast and lunch? Or why Amazon鈥檚 deals seem perfectly timed to your needs? It鈥檚 not magic鈥攊t鈥檚 data. Companies like Amazon, American Airlines, and Lufthansa use highly sophisticated […]
When it comes to online travel agencies (OTAs) and their bidding practices, there is a growing concern among hoteliers. Many hotel owners believe that Google does not prioritize the interests of genuine OTAs, as they allow scam companies with fake rates and availability to bid alongside legitimate players. This situation has raised questions about Google’s […]