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𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭!

Precium is now Integrated with STAAH

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Optimising Revenue with Smart Dynamic Pricing for Hotels

Mastering Dynamic Pricing Strategies for Accommodations

Learn how dynamic pricing can transform your room revenue. Discover proven strategies, tools, and tips to master real-time rate optimisation.

In the ever-evolving world of hospitality, pricing is more than a number — it’s a strategy. With customer behaviour and market conditions changing in real time, static pricing models not the right choice to improve profitability. That’s where Dynamic Pricing comes in.

This blog will help you understand what dynamic pricing is, why it’s vital for Hotel Industry, and how to implement it effectively to maximise Revenue and Profitability.

What Is Dynamic Pricing?

Dynamic pricing means fluctuations in the price points depending on various factors like Seasonality, Demand Levels, Market Condition, Socio-economic situation, Weather Forecast, etc. All the other Rates are derived from the parent rate. When we fluctuate the parent rate, all the rate plans connected to the parent rate plan will update automatically.

Latest trends shows offline Travel Agents & Negotiated Corporate clients are also moving to Dynamic Pricing model.

Benefits of Dynamic Pricing

Maximise ADR over High Demand days/period

Maximise RevPAR through Occupancy over Low Demand days/period

Time saving- update only parent rate plan, all the derived rate plans will update automatically

Low probability of making a mistake while updating Price Points

Key Factors That Influence Pricing

Pricing decisions should be based on data-driven insights. Key variables include:

Demand trends (holidays, events, weather)

Booking windows (how far in advance people book)

Competitor pricing (Monitor fluctuating price points)

Inventory levels (room availability)

Market segments (Corporate vs Leisure, Groups vs FIT, Social vs Business)

Proven Dynamic Pricing Strategies for Hotels & Rentals

✅ Use Price Sensitivity to Guide Changes

Understand how price-sensitive your guests are. For example, leisure travellers are more responsive to discounts, while business travellers may prioritise convenience over cost.

✅ Set Rate differentiated Pricing

Create and Implement Retail Pricing Strategy to cater to a larger target Audience. Example:

Advance Purchase Rate with non-refundable cancellation policy at a discounted Rate for Early bookers.

Minimum LOS Rate at a discounted Rate for bookers staying for a longer stay.

Value add-ons Add Breakfast, Lunch, Dinner, Spa, etc to create a value Package

✅ Monitor Competitor Pricing

Monitoring Competitor Price Point fluctuations gives us an indication of the Market Demand Levels. Automated Rate Shopping Tool helps the Hotels to keep a close watch on Competitor Pricing behaviour.

Conclusion

Mastering dynamic pricing is about being proactive, strategic, and data-driven. When done right, it empowers you to:

Maximise RevPAR

Improve profitability during both peak and off-peak periods

Whether you’re managing a boutique hotel, a resort, or short-term rentals, embracing dynamic pricing is critical.

Need help implementing dynamic pricing for your property?

Collaborate with RedSKY Hospitality revenue management specialists or take advantage of Precium Automated Pricing Solutions to maximise your property’s Revenue potential.

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𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭!

Kamat Hotels (India) Limited has signed up with Precium Technologies for Automated Revenue Management System, Real time Competitor Rate Shopping Solution and Automated Upcoming City Events!

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𝐑𝐞𝐚𝐥-𝐓𝐢𝐦𝐞 𝐑𝐚𝐭𝐞 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠

𝐑𝐞𝐚𝐥-𝐓𝐢𝐦𝐞 𝐑𝐚𝐭𝐞 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 Track Competitor prices instantly across multiple platforms.

Precium

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Optimize Pricing , Maximize Revenue ! Contact us to know more and get started today! Precium

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Live Rate shopping & City Events at Your Fingertips!

Precium: Live #rateshopping & #cityevents at Your Fingertips!

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Precium: Where Live Rates & City Events Drive Success! Stay ahead, optimize pricing, and boost your revenue.

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Transform your Pricing Strategy 👉Book a Demo Now!

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Revolutionize Your #PricingStrategy with Precium! Get accurate recommendations and powerful analytics—start now!

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Holiday offer with Precium Technologies LLP

Right Time to Strategise your Business with the Right Technology at the Right Price !🎉🎄

🎁𝙎𝙥𝙚𝙘𝙞𝙖𝙡 𝙊𝙛𝙛𝙚𝙧🎁 🟢Real time Competitor Rate Shopping 🟢Upcoming City Events 🟢Rate Parity Check 🟢Schedule Reports to your Email 🟢Alerts - to give Competitor Rate changes

𝐎𝐟𝐟𝐞𝐫 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 Free Trial Valid till December, 2024

👉I𝗳 Y𝗼𝘂 W𝗮𝗻𝘁 M𝗼𝗿𝗲 D𝗲𝘁𝗮𝗶𝗹 Y𝗼𝘂 C𝗮𝗻 V𝗶𝘀𝗶𝘁 U𝘀: 🌐 Precium Technologies

👉E𝗺𝗮𝗶𝗹 📧sales@precium.in

"Interested in joining? "Fill out the form to get started – [Click Here]!" 👉 Google Form

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𝐌𝐲𝐭𝐡𝐬 𝗩𝘀 𝐅𝐚𝐜𝐭𝐬

❌𝐌𝐲𝐭𝐡𝐬: "Rate shopping tools are expensive and not worth the investment."

✅𝐅𝐚𝐜𝐭𝐬: "Exceptionally, there are certain systems in the market that work on live rate shopping and provide accurate data.

For example, Precium Rate Shopping is a budget-friendly system with advanced mechanisms that ensure data accuracy and help hotels make informed decisions."

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𝐌𝐲𝐭𝐡𝐬 𝗩𝘀 𝐅𝐚𝐜𝐭𝐬

❌𝐌𝐲𝐭𝐡𝐬 -“Rate Shopping Software is only for large Hotels or chains.” ✅𝐅𝐚𝐜𝐭𝐬-Rate shopping software benefits all types of hotels, from boutique to large chain, small to large inventory. It helps any property keep track of competitors' rates, optimize their own pricing strategies, and maximize revenue.

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𝐃𝐈𝐃 𝐘𝐎𝐔 𝐊𝐍𝐎𝐖 ‼ Precium helps you grow #revpar by suggesting accurate day-wise pricing points."

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𝐃𝐈𝐃 𝐘𝐎𝐔 𝐊𝐍𝐎𝐖 ‼

“Precium Rate Shopping Software works on live systems, providing Real-Time and up-to-date rates across different channels and platforms with just a click of a button.”

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𝐖𝐡𝐚𝐭 𝐏𝐫𝐞𝐜𝐢𝐮𝐦 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐎𝐟𝐟𝐞𝐫𝐞𝐝

🟢Revenue Management System (RMS) 🟢Rate Shopping Tool

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𝐏𝐫𝐞𝐜𝐢𝐮𝐦 𝐃𝐚𝐬𝐡𝐛𝐨𝐚𝐫𝐝 – 𝐅𝐨𝐫 𝐚 𝐪𝐮𝐢𝐜𝐤 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

✅Last Night Performance ✅14-Day Occupancy Vs Price Grid ✅MTD and YTD Performance Vs Previous Years ✅Pick-up Summary for Current Month +2

𝐏𝐫𝐞𝐜𝐢𝐮𝐦 𝐃𝐚𝐬𝐡𝐛𝐨𝐚𝐫𝐝

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𝐖𝐡𝐚𝐭 𝐢𝐬 𝐏𝐫𝐞𝐜𝐢𝐮𝐦?

Automated Revenue Management System, developed by team of expert Revenue Managers, to grow your RevPAR.

✅𝐔𝐬𝐞𝐫-𝐟𝐫𝐢𝐞𝐧𝐝𝐥𝐲 𝐈𝐧𝐭𝐞𝐫𝐟𝐚𝐜𝐞: Easy to navigate and manage your revenue efficiently. ✅𝐀𝐈-𝐃𝐫𝐢𝐯𝐞𝐧 𝐎𝐩𝐭𝐢𝐦𝐚𝐥 𝐏𝐫𝐢𝐜𝐢𝐧𝐠: AI determines the best price points to maximize RevPAR. ✅𝐒𝐞𝐜𝐮𝐫𝐞 𝐃𝐚𝐭𝐚 𝐒𝐭𝐨𝐫𝐚𝐠𝐞:Long-term, secure storage for future data access. ✅𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬: Simple, comprehensive reports for property behaviour insights