Getting into the hotel business is a dream for many people. And it is no wonder, it is a great way of creating a stable revenue. However, like with all businesses, starting small carries plenty of challenges, and the situation is the same when it comes to smaller hotels.
The big players in the hotel game are quite experienced and have the tools and knowledge to determine what the best pricing methods are, e.g. high-end pricing software and years of solid data to draw conclusions from. On the other hand, smaller hotel owners and managers are less experienced, meaning that it is necessary to take some steps in order to optimize small hotel revenue. Let’s take a look at a couple of steps that will help you optimize your small hotel revenue. Factors that directly impact initial pricing When creating hotel room pricing, it is essential to remain realistic. You want to actually make a profit don’t you? Well, in that case, the following are the most important parameters you should take into consideration.
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December 2021
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