Supply and Demand
How to best price your property it maximise revenue.
It has become a pretty common occurrence where Hotels/Holiday Parks raise their rates over busy seasons and public holidays to try and increase their revenue income over these dates. This form of dynamic pricing uses location based (town or city) occupancy to determine the most profitable rate structures.
What about local events though? Concerts, Festivals & Sporting attractions. If these events are happening near your property it is highly recommended to maximise your yield by using simple revenue management techniques.
Now is this is something you are interested in learning about and putting these tips into action, here at StayMakers we offer consultancy services on revenue management.
This can be extremely beneficial to you to help decide exactly what prices should be charged over these periods. It needs to be priced both accurately and competitively to ensure you are receiving a big piece of the pie just like Hotels & Holiday Parks in the area.
If you would like to speak to us here at StayMakers about how you can best manage your rates please don’t hesitate to contact us via phone, email or our website.