With the travelling public reducing discretionary spending and many businesses restricting travel, hotels struggle to sell their available room inventory and to set the correct room rates. Without a clear view into future demand, hoteliers might set rates that lead to suboptimal revenue or spoilage.
Pricing Challenges
Although demand comes from a variety of guests, including transient, extended stay, and groups, hotels must make timely pricing decisions to maximize revenue and profits. Hotels can simplify and improve their ability to make optimal decisions with the appropriate tool.
PROS Solution for Hotel
PROS helps you understand consumer price sensitivities and track competitors’ behaviors. PROS separates yieldable demand from price-sensitive demand, offers real-time adjustment to demand pattern changes, and independently forecasts the demand for each product, including length of stay. By examining your historical pricing actions and performances with PROS, you can make quality pricing decisions.