How Hotels Price Rooms

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This video explains some of the factors that influence a hotel's rate. If you've ever wondered how hotels set prices, watch this video!
00:00 - 00:28 Intro
00:29 - 02:38 Demand
02:39 - 03:16 Supply
03:17 - 04:17 Identifying a Compset
04:18 - 06:16 BAR rates, Discounts, and Promotions
06:17 - 07:46 Example Property - Intro
07:47 - 08:12 Example Property - Historical Data
08:13 - 09:03 Example Property - Pace & Pickup
09:04 - 09:47 Example Property - Competitor Rates
09:47 - 10:37 Example Property - Rate evolution & Booking Curve
10:38 - 11:46 Example Property - Demand Forecast
11:47 - 12:26 Example Property - Market Segmentation
12:27 - 13:00 Outro

[@jmmbuthia]

Great video. Simple and well explained. The concepts seem to apply to the airline industry in my opinion. The concepts learned can also be used in other businesses. The key takeaway here for me is that it's extremelly important for a company to capture any data that it can from customer data to weather to politics and combine everything to form an well versed assessment on where the revenues come from and how the company can use modern tools like AI and machine learning to help predict the best business strategy for the company

[@lewograran]

Really great video...clear and simple material well delivered. Thanks!

[@KriyaRevGEN]

Thanks for watching Steve!

[@adhamadassy5803]

Nice.. Basic but organized info

[@hgparsa9267]

I love the vidoe. I used it in my Rev Mgmt classes. Very helpful

[@KriyaRevGEN]

Great to hear! It was fun to make the video, tell your class hello from Texas!

[@Texasbird026]

I was chatting up front desk night person last stay and she said she gets calls from other nearby hotels to check occupancy. Also the staff at the local Laquinta and Holiday inn get a bonus if they sell out. Best western did not.

[@surajm6236]

Is there any material for reference as to how we can forecast ADR and Occ for new hotel considering its comset , demand, supply and other factors.
Thanks

[@KriyaRevGEN]

Hello Suraj, the STR report from Smith Travel, as well as some Hospitality reports from CBRE, and Agency 360 have good market data!
Thanks for watching!

[@krispy6796]

I find it fluctuates around 10 dollars a night depending on who is working the front desk

[@KriyaRevGEN]

🤣 Thanks for watching @Krispy

[@des5166]

thnx

[@KriyaRevGEN]

You're welcome!

[@TheGgeenniiee]

We are all going to end up living in hotels.

[@KriyaRevGEN]

😜 We'll see!

[@sakshijain9944]

Can i know your good name?😊

[@josefyigit9957]

Phil