This panel discussion features seasoned revenue management professionals, sharing their expertise on booking windows, pricing strategies, fee structures, and the importance of reviews.
Panelists share insights into adapting to market changes, the ongoing impacts of the pandemic on consumer behavior, and the pivotal role that coordination between revenue, marketing, and reservations departments plays in achieving business success.
Key Discussion Topics:
- Changing Booking Windows: how shrinking booking windows and the increasing price sensitivity among consumers are impacting strategies.
- The Significance of Reviews: The importance of high reviews in this environment, as guests prioritize assurance of quality.
- Fee Structures in Pricing: The relevance of fee structures and the challenge of balancing profitability with competitive pricing to attract more bookings.
- Guest attention around "Total Paid Price": How to create an approach that considers the total guest cost when designing your pricing strategy.
- Distribution Channel Pricing: how to pricing on different distribution channels like Airbnb, Vrbo, and direct bookings, and how this strategy plays into an overall market pricing strategy.
