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Dynamic Pricing Explained: Use in Revenue Management and Pricing Optimization

Altexsoft

The reality is that you’ll need a more sophisticated pricing strategy to fit into today’s highly competitive market and be flexible enough to adjust to any changes. Dynamic pricing is a practice of setting a price for a product or service based on current market conditions. Would you consider fixed costs, competitor prices, or both?

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RevPAR, Occupancy Rate, ADR, and Other Hotel Metrics: How to Evaluate Your Property’s Performance

Altexsoft

Despite its simplicity, the occupancy rate is an important KPI that shows how full your hotel is. It might show you that your property is most popular at the weekends or during the holiday season, or when some sport events take place nearby. The CPOR is a crucial KPI that allows you to monitor your expenses. sign on your door.

Hotels 64
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Occupancy Rate Prediction: Building an ML Module to Analyze One of the Main Hospitality KPIs

Altexsoft

While occupancy rate is essential for deciding whether your management strategies succeed or fail, there are a few things you should keep in mind regarding this KPI. Along with other hospitality metrics like RevPAR , the occupancy rate is an important KPI that allows better and more accurate revenue management aimed at maximizing income.

Hotels 52