Module 3: Strategic Pricing – “Taking Back Control”

Typically, tactical pricing on a day-to-day basis often overshadows the need for intelligent strategic pricing. This workshop clarifies the relationship between rate parity and rate integrity and addresses the importance of knowing who determines price. Participants learn about when and why to discount and how to intelligently apply fencing tactics. The workshop is also designed to help participants interpret index results to determine price potential, drive RevPAR and improve bottom line results. It focuses on how to take back control of pricing and drive revenues. In today’s markets, hotels must have a strong understanding of strategic pricing to be successful.

Topics include:

Strategic vs. tactical pricing
Determining fair price
The importance of reference prices
Fencing to maximize revenues
When to discount
Tapping the potential of mix management

Module 3 includes the following hotel revenue management topics:

Full day interactive workshop
Decision Support Tools:

Break Even Analysis

Last Minute Selling Trends

Rate Profitability Template

Competitive Set Rate Response Report

Selling Calendar

Product Bulletin

SOC’s Report

7 Standard Operating Procedures
3 one-hour coaching sessions

See also:

Module 1: Product Definition
Module 2: Competitive Benchmarking
Module 3: Strategic Pricing
Module 4: Demand Forecasting
Module 5: Business Mix Manipulation
Module 6: Distribution Management