Integration of reputation and revenue management systems underscores the need for comprehensive data to drive competitive pricing decisions
Jun 7, 2024
Negative reviews can deter leisure travelers, while business travelers often prioritize practical aspects such as bed comfort, shower pressure, Wi-Fi quality and location. This distinction underscores the need for hoteliers to tailor their offerings and pricing strategies to different market segments.
Key takeaways
- Segment-specific pricing strategies: Leisure and business travelers have different priorities and review sensitivities. Tailoring pricing strategies to these segments can optimize occupancy and revenue.
- Effectively manage negative reviews: Addressing negative reviews with personalized, constructive responses can turn potential setbacks into opportunities for improvement and enhance a hotel’s reputation.
- Advances in Attribute-Based Selling (ABS): Technological advances in booking engines and digital twins make ABS possible. Implementing ABS requires a customer-centric PMS and integrated systems to deliver personalized guest experiences.
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