How hotels can make pricing strategy simpler
Get confident with hotel pricing methods
2 min read
We believe our clients should be confident when it comes to making automating easy for their pricing strategy. After all, Elina was created in order to help with your booking engine and property management system overall to achieve an efficient, accessible, and up-dated system for your business needs.
Elina allows a simple and easily loaded base rate, where this can be set based on the day of the week, length of stay restrictions, and also seasonality.
Data automates from base rates to build your pricing strategy out to automate pricing. By this, it is saving you valuable time and maximising your revenue at the same time – meaning no time consuming actions.
We have come up with 4 tips to make automating easier for your pricing strategy using Elina PMS, which are really clear and simple to follow ahead:
1. Rate Relations
By using rate relations (derived pricing from a lead rate), you can simply advise Elina to automatically generate prices for particular rooms or apartments based on a set reduction, or increase in rate from a lead rate.
2. Promotions and Rate Categories
Create promotions and rate categories - not only is this automated based on the parameters set in your promotion, it will also provide guests with more choice which typically will help conversion rates.
3. Yield Rates
Yield rates based on rules such as occupancy levels allows Elina to automatically detect when you have reached certain occupancy levels. Rate yielding also helps you increase rates to maximise revenue in busy time periods.
4. Outperform RMS
Connect with Outperform RMS as this increases your RevPar results through transient business. Use an intelligent automated revenue management system that will provide suggested pricing based on an advance algorithm.
We hope these tips will help guide you to make automating easy for your pricing strategy. Have you already followed any of the suggested tips above?
Good luck from the Elina PMS team!
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