The chart below shows one of the fundamental learning’s of Revenue Management 101. Layering in a num

Price matters. As revenue managers none of like to hear it; reality is that consumers still rate price as one of the top factors when making a buying decision. As you will have read in previous Articles like BAR More Than Just a Rate Code I am a big believer in flex pricing based on market demand.
The right rate is the rate that the consumer views as a good value which will cause them to book. Sounds simple enough; where it gets tricky is when pricing for each of the markets that will be layered into your hotel to maximize the revenue, while preventing people who would have bought at a higher rate to buy down.
The chart below shows one of the fundamental learning's of Revenue Management 101. Layering in a number of different segments of business leads to a better result in RevPAR than keeping one price for all.
o Group Rates : should also be based on demand, while group rates normally provide a volume discount; be sure to measure demand first. There are times where group rates should be at or even higher than BAR.
Scott has been in the industry for 20 years and has held various key positions at TravelClick, Sequel Hotels Resorts, and Fairmont Hotels Resorts. He has been instrumental in developing Revenue Management strategies with real world application. He has helped various independent hotels to maximize revenues with actionable strategies through his company Incite Revenue . He has been involved in multiple speaking engagements including HSMAI, Eye for Travel PhocusWright.