Check the public rates of your competition, at least once a week. What are their revenue management strategies? What is the probability that they will decrease or increase their rates on a specific period? Make sure you know what rates your competition is selling at…
Also, check periodically pricing by LOS i.e. 2 nights stay by arrival day, 3 nights stay by arrival day etc.
hotel-rate-shopping-rmb

hotel_rate_shopping_2

Identify opportunities when you can follow up the market as shown in the above example!

 

You may decide to subscribe to a Rate Shopping Tool (below an example from RateTiger Shopper).

 

ratetiger shopper-a

For more information on how to implement yield strategies in your hotel click here: hotel revenue management.

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