{"id":23116,"date":"2009-10-06T14:59:26","date_gmt":"2009-10-06T14:59:26","guid":{"rendered":"https:\/\/www.xotels.com\/uncategorized\/revenue-management-plan-step-8"},"modified":"2024-12-24T09:49:51","modified_gmt":"2024-12-24T09:49:51","slug":"action-steps-8","status":"publish","type":"post","link":"https:\/\/www.xotels.com\/en\/revenue-management\/revenue-management-book\/action-steps-8","title":{"rendered":"Revenue Management Plan &#8211; Step 8"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:calc( 1200px + 0px );margin-left: calc(-0px \/ 2 );margin-right: calc(-0px \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:0px;--awb-margin-bottom-large:0px;--awb-spacing-left-large:0px;--awb-width-medium:100%;--awb-spacing-right-medium:0px;--awb-spacing-left-medium:0px;--awb-width-small:100%;--awb-spacing-right-small:0px;--awb-spacing-left-small:0px;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><div style=\"text-align: justify;\"><span style=\"font-size: 12pt;\">Am I comparing myself in terms of pricing against the market and my competition or am I working in a vacuum? Know what you are competing against. Understand the pricing strategy of competitor hotels. Step 8 in our hotel <a href=\"\/\">revenue management<\/a> plan&#8230;<\/span><\/div>\n<div><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 12pt;\">Step 8 in our strategic <a href=\"\/en?p=848\">hotel revenue management<\/a> plan is:<\/span><\/div>\n<ol>\n<li>Develop benchmarking of your competition: public rates by LOS and arrival days.<\/li>\n<li>Benchmark periodically your competitors&#8217; rates on other market segments<\/li>\n<li>Anticipate the rate strategies of your competitors: what will be their rate positioning in the coming year, per periods<\/li>\n<li>How that will affect the demand to come to your hotel. How can you differentiate your hotel in terms of Pricing &amp; Value?<\/li>\n<\/ol>\n<\/div><div class=\"fusion-text fusion-text-2\"><p><div class=\"fusion-button-wrapper\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-1 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"\/en\/revenue-management\/revenue-management-book\/hotel-rate-shopper\/\" id=\"buttonemail\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Previous<\/span><\/a><\/div> <div class=\"fusion-button-wrapper\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-2 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"\/en\/revenue-management\/ebook-revenue-management\/\" id=\"buttonemail\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Book Index<\/span><\/a><\/div> <div class=\"fusion-button-wrapper\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-3 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"\/en\/revenue-management\/revenue-management-book\/competitor-analysis\/\" id=\"buttonemail\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Next<\/span><\/a><\/div><\/p>\n<\/div><div ><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-4 fusion-button-default-span fusion-button-default-type\" style=\"--awb-margin-left:+1.5%;\" target=\"_self\" href=\"\/en\/subscribe\/\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">Subscribe to Our Blog<\/span><\/a><\/div>\n<\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<div style=\"text-align: justify;\"><span style=\"font-size: 12pt;\">Am I comparing myself in terms of pricing against the market and my competition or am I working in a vacuum? Know what you are competing against. Understand the pricing strategy of competitor hotels. Step 8 in our hotel <a href=\"\/en\/hotel-revenue-management\">revenue management<\/a> plan&#8230;<\/span><\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[189],"tags":[],"class_list":["post-23116","post","type-post","status-publish","format-standard","hentry","category-revenue-management-book"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Revenue Management Plan - Actions Steps 8 by Xotels<\/title>\n<meta name=\"description\" content=\"Revenue management plan by Xotels. A detailed action plan and manual for the implementation of a revenue management strategy and yield in your hotel.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xotels.com\/en\/revenue-management\/revenue-management-book\/action-steps-8\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revenue Management Plan - Actions Steps 8 by Xotels\" \/>\n<meta property=\"og:description\" content=\"Revenue management plan by Xotels. A detailed action plan and manual for the implementation of a revenue management strategy and yield in your hotel.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.xotels.com\/en\/revenue-management\/revenue-management-book\/action-steps-8\" \/>\n<meta property=\"og:site_name\" content=\"Xotels\" \/>\n<meta property=\"article:published_time\" content=\"2009-10-06T14:59:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-24T09:49:51+00:00\" \/>\n<meta name=\"author\" content=\"Patrick Landman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@xotels\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patrick Landman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":[\"Article\",\"BlogPosting\"],\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/revenue-management\\\/revenue-management-book\\\/action-steps-8#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/revenue-management\\\/revenue-management-book\\\/action-steps-8\"},\"author\":{\"name\":\"Patrick Landman\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/person\\\/f51e882bd553ae1b905fc0214cdca6f5\"},\"headline\":\"Revenue Management Plan &#8211; Step 8\",\"datePublished\":\"2009-10-06T14:59:26+00:00\",\"dateModified\":\"2024-12-24T09:49:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/revenue-management\\\/revenue-management-book\\\/action-steps-8\"},\"wordCount\":638,\"publisher\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#organization\"},\"articleSection\":[\"Revenue Management Book\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/revenue-management\\\/revenue-management-book\\\/action-steps-8\",\"url\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/revenue-management\\\/revenue-management-book\\\/action-steps-8\",\"name\":\"Revenue Management Plan - Actions Steps 8 by Xotels\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#website\"},\"datePublished\":\"2009-10-06T14:59:26+00:00\",\"dateModified\":\"2024-12-24T09:49:51+00:00\",\"description\":\"Revenue management plan by Xotels. 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