What is Dynamic Pricing?

Understanding Dynamic Pricing and Implementing it for your Hotel

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The dynamic pricing system must be followed to take the right pricing decisions while anticipating market demands. Hotelogix cloud-based property management system (PMS) includes an integrated revenue management system that gives the much-needed advantage to implement dynamic pricing for hotels.

What is Dynamic Pricing?

Finding rates that maximize revenue is an everyday struggle for hoteliers with the changing market demands. How does dynamic pricing work? This time-based pricing model projects the best available rates at the right time for the right season and for the right guest.

  • Alter pricing strategies using sophisticated technologies
  • Save time and cost
  • Make informed and accurate decisions to optimize profitability

Hotelogix cloud-based PMS helps with implementing accurate pricing strategies in hotel industry. You can solve the challenge of selling room inventory at highest possible rates.

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What is Dynamic Pricing

Benefits of dynamic pricing system

Hotel room pricing changes frequently based on seasons, monthly and weekly fluctuations as well as daily or hourly changes. You can use technology to implement the dynamic pricing system and match price to demand.

  • Change room rates daily or hourly or even up-to-the-minute with dynamic pricing model
  • Achieve balance between underpricing and overpricing by adjusting room rate with response to demand and supply.
  • Use dynamic pricing to maximize profits with each customer
  • Build an effective pricing model that best works for your property type

Identifying the optimal price manually is a cumbersome task. Hotelogix cloud-based PMS includes flexibility with its dynamic pricing and revenue management system.

Derive Best Room Rate

Benefits of dynamic pricing systemn

What can Dynamic Pricing do for your Hotel Revenue?

You don’t need to struggle with rate management every hour or day. Opt for a pre-determined dynamic pricing system. Dynamic pricing is useful to aim for maximum profit in a competitive industry. Automation of the process makes it easy!

  • Dynamic pricing allows you to increase room revenue, Average Daily Rate (ADR) and RevPar (revenue per room)
  • The common method of ‘low-to-high’ pricing can be flipped to ‘high-to-low’
  • Observe competitor pricing to match the ever-changing price trends in minutes.
  • Use intelligent dynamic pricing software for hotels to compare prices and track room inventory.

A revenue manager must know the pulse of the situation to implement the dynamic pricing strategies in hotel industry. Automate and tweak prices in real-time with Hotelogix.

Increase Hotel Revenue

Impact of Dynamic Pricing on your Hotel Revenue

Fixed Pricing v/s Dynamic Pricing

Have you always used the fixed pricing strategy? Find out the difference.

Fixed Pricing for the Hotel Industry:

  • A constant price is maintained leaving no scope for a price bargain or negotiation.
  • It restricts a hotel owners’ potential to increase profit by the volume sold.

Dynamic Pricing for the Hotel Industry:

  • This is a time-based pricing. Price your rooms as per the time.
  • Increase/decrease room rates as per the demand or the lack of it
  • Find an effective pricing model that works best for your hotel property
  • Use automated systems to collect accurate data to forecast accurately, increase RevPAR
  • Use Dynamic pricing strategies to work around room rates by watching competitor pricing using technology

Hotelogix PMS with its smart tools lets you make quick decision in real-time. The integration of a Channel Manager and a revenue management system makes this an all-in-one solution.

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Fixed Pricing v/s Dynamic Pricing

Dynamic Pricing Software for Hotels: Why do you need it?

Avoid the struggle to determine rates based on assumptions. Implement Dynamic pricing for hotels with technology. Manage updates quickly to determine the sales price. Use the complete accuracy of a cloud-based hotel management system like Hotelogix.

  • Hotelogix gives you the power of centralized pricing derived from a BAR rate (Best Available Rate)
  • Access competitor pricing, market trends, and get deep insights using intelligent pricing tools
  • Analyze, update rates and post on all channels, create offers as per trends, offer promotional packages and more

Use Hotelogix PMS and choose a channel manager and revenue management tool of your choice. Design your dynamic pricing and revenue management on factors such as location, demand, rooms sold, changing seasons and much more.

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Dynamic Pricing Software for Hotels

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