Developing the right pricing strategy is the first step for accommodation providers to achieve efficient revenue. The next step is to automate the pricing strategy. Increasingly, more accommodation providers are adopting open pricing and rule-based price variation, allowing for flexibility in setting different prices for different target markets and distribution channels.

For example, luxury hotels usually attract guests with higher booking budgets. However, during the off-peak season, the hotel's room bookings may decrease. In such cases, accommodation providers can choose to lower room prices to attract budget-conscious guests to book their stays. Although the average daily room rate may decrease, maintaining a certain occupancy rate ensures stable revenue.

Athena's leading " Yield Management " feature assists accommodation providers in revenue management, from competitor monitoring and distribution Channel Manager to rule-based price variation in pricing strategies. The automation of dynamic pricing saves time, effort, and improves efficiency.

During the process of increasing room revenue, you have likely encountered the following challenges, which the Athena system can help you solve:

1. Difficulties in competitor monitoring:

• Observing real-time price changes of competitors requires time.
• Wanting to know the sales performance of competitors across various channels.
• Collecting and organizing price data manually is time-consuming, complex, and prone to errors.

        Are you currently spending too much manpower and time studying competitors' pricing strategies? Competitors' pricing is not the sole factor influencing your own room rates. However, after comparing the advantages and disadvantages of competitors' rooms with your own, you can make adjustments as needed and design a dynamic pricing strategy that can fluctuate in real-time with the collection of competitor data. With accurate data collection, you can easily manage room rate revenue.

2. Difficulties in Channel Manager:

• It's difficult to control the room rate disparity between OTA channels and hotel website.
• Wanting to know the sales performance of various channels in real-time.

        Athena's Channel Manager can assist accommodation providers in selling different accommodation options through different distribution channels, such as travel agencies, online travel agencies (OTAs), global distribution systems (GDS), and their own Booking Engine systems (Web Hotel) for guest reservations. Each distribution channel can reach different types of travelers. From a revenue management perspective, it is essential to reach the right customers through the right channels and at the right prices. Different sales periods, sales channels, and accommodation package contents all affect customers' sensitivity to prices.

3. Difficulties in pricing strategy:

• Insufficient and non-real-time pricing reference factors, leading to inaccuracies.
• Manual price adjustments consume significant time and are prone to errors.

        Athena's Yield Management platform collects real-time internal operational indicators from the Property Management System (PMS), such as average occupancy rate, average room rate, and cancellation rate. It also considers real-time fluctuating variables, including external variables, competitor variables, and internal variables, while integrating real-time sales data from various channels through the Channel Manager. This enables the accurate and effective formulation of competitive prices. You can easily leverage pricing business intelligence tools to monitor the market, track competitors, collect data, forecast, and quickly adjust pricing strategies.