Hotel Managers: Open the Door to New Revenue
Simple hotel revenue strategies to avoid leaving money on the table
Best-available-rate (BAR) pricing has been at the core of traditional revenue management for years and has provided hotels a more advanced approach than the “gut feel” method that came before it. Hoteliers establish one price based on some combinations of historical data, competitive prices and forecasted demand. However, as new channels and other intermediaries have emerged that are taking a larger cut of the action, this fixed-tier approach has become less effective, if not antiquated.