Traditionally teams have relied on post-booking data, such as historical performance and on-the-books data, and then compared that with a static set of competitors. There are now more forward-looking data sets that allow teams to get a glimpse into traveler behavior.
With the road to recovery taking various approaches and forms in different countries, regions and cities, we wanted to understand how revenue managers believe their markets will develop, how they see their business mix change as well as which pricing and distribution decisions they will be making.
Knowing what your competition is up to has become a key part of revenue management and is more important now than ever before. Find out how you can make the most of competitor data during market recovery and get out ahead when markets recover.
The evolution of how hoteliers and revenue managers’ pricing strategies have changed under these new circumstances are continued in this second part of the analysis. Find out price change per star rating, hotel size, and hotel type.
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