Pricing strategies to make your tourist accommodation more profitable
Posted: Thu Dec 05, 2024 6:55 am
Mayca
Copy SEO Expert
March 28, 2023
We know that the price of accommodation is one of the key aspects in managing your business , as it is essential to find the perfect balance between services that allow you to offer a luxury experience and keep rooms at affordable rates.
However, there is no 100% correct answer when it comes to pricing strategies in the tourism industry. And that's because what you should charge depends on a variety of factors including operational costs , seasons, demand and market structure.
Table of Contents [ Hide ]
1 5 pricing strategies and 1 tip to optimize your tourist accommodation's income
1.1 1. Value-based pricing
1.2 2. Prices per package
1.3 3. Market penetration prices
1.4 4. Promotional prices
1.5 5. Dynamic pricing
1.6 6. Implement RMS (Revenue Management System) Technology for your accommodation
5 pricing strategies and 1 honduras email address tip to optimize your tourist accommodation's revenue
You should know that setting the prices of your rooms and services does not count as a pricing strategy or revenue management strategy per se. It is rather the way you shape and manipulate the prices of your accommodation based on the current market scenario and your guests.
1. Value-based pricing
Pricing strategy is much simpler if it is based on value. Basically, it is the money that your services must get in return . Let's say that if you have, for example, smoking-only rooms, these should be priced higher than the standard ones. Likewise, rooms with the best views have a higher value and therefore a higher price.
2. Prices per package
Nowadays, it is quite common for travelers to look for attractive packages and not organize everything separately. If you create a package that includes taxis, SPA, laundry service, local tours, among others, you can earn significantly higher income. How can you achieve this?
Copy SEO Expert
March 28, 2023
We know that the price of accommodation is one of the key aspects in managing your business , as it is essential to find the perfect balance between services that allow you to offer a luxury experience and keep rooms at affordable rates.
However, there is no 100% correct answer when it comes to pricing strategies in the tourism industry. And that's because what you should charge depends on a variety of factors including operational costs , seasons, demand and market structure.
Table of Contents [ Hide ]
1 5 pricing strategies and 1 tip to optimize your tourist accommodation's income
1.1 1. Value-based pricing
1.2 2. Prices per package
1.3 3. Market penetration prices
1.4 4. Promotional prices
1.5 5. Dynamic pricing
1.6 6. Implement RMS (Revenue Management System) Technology for your accommodation
5 pricing strategies and 1 honduras email address tip to optimize your tourist accommodation's revenue
You should know that setting the prices of your rooms and services does not count as a pricing strategy or revenue management strategy per se. It is rather the way you shape and manipulate the prices of your accommodation based on the current market scenario and your guests.
1. Value-based pricing
Pricing strategy is much simpler if it is based on value. Basically, it is the money that your services must get in return . Let's say that if you have, for example, smoking-only rooms, these should be priced higher than the standard ones. Likewise, rooms with the best views have a higher value and therefore a higher price.
2. Prices per package
Nowadays, it is quite common for travelers to look for attractive packages and not organize everything separately. If you create a package that includes taxis, SPA, laundry service, local tours, among others, you can earn significantly higher income. How can you achieve this?