A revenue management white paper from Duetto Research. Duetto provides innovative revenue strategy solutions to the world's leading hotels and casinos, combining unparalleled expertise with world-class cloud-based technology.
The hotel industry is a street corner business and there’s more competition than ever. It’s not just from the hotels next door and on the other side of the road anymore. Now there are online travel agencies like Priceline and Expedia and newer and even mobile booking sites selling rooms on your street corner and at your hotel.
Revenue may be climbing, but so are commissions and other marketing fees. Recent studies have shown customer acquisition costs are rising faster than revenue, meaning your profits are shrinking. The reason? Those online and mobile booking sites that may be helping fill your properties are also taking a huge cut of the action. And new intermediaries and other marketing costs are compounding that problem, leaving your piece of the profits even smaller.
If you’re wondering where your profits have gone, it might be time to explore how you’re pricing your hotel. Here are seven pricing mistakes that are costing your hotel big money.
Click here to read the full white paper.