EMBRACE THE FUTURE OF PRICING
Open Pricing allows hotels to move past the antiquated practice of setting tiered BAR prices and instead yield each segment, channel and room type independently in real time.
The Origin of OPEN Pricing
Duetto CEO Patrick Bosworth says the ability to yield rates independently based on dates, channels, room types and other factors without closing any availability is the heart of Revenue Strategy.
WHAT DRIVES OPEN PRICING
Lost-business data
Tracking website regrets and denials – users who visited your website but left without booking – paints a more accurate picture of a hotel’s true unconstrained demand.
Price experimentation
Access to lost-business data allows GameChanger to continually test new rates and measure conversion in real time to capture the most profitable bookings.
Machine learning
GameChanger’s pricing algorithm taps into Big Data to understand consumer behavior and adjusts future rate recommendations based on your activity.
Cloud architecture
Optimize every transaction and react in real time with seamless two-way integrations with leading property management systems and booking engines.
How Open Pricing Works
Duetto’s whitepaper explains how to implement an innovative Open Pricing strategy
No more fixed modifiers.
Instead of using fixed modifiers to differentiate prices between your rooms with double beds and rooms with king beds, for example, price those different room types based on demand.
Revisit your discount strategy.
Stop offering a static percentage off BAR and instead offer “up to 20% off,” for example, and keep discounts flexible.
Always keep offers open.
Understand how to keep all promotions and channels available without closing them off as booking dates compress.
Get alerted in advance.
Alert functionality, which notifies users to sudden changes in demand, allows hotels to react quicker to dynamic market conditions and adjust prices to maximize revenue.
