Fair pricing means offering a selling price that is consistent with what a customer is willing to pay for the quality of your service, considering the alternative products on the market. This includes taking into account not only the objective quality of your property and online reputation as a reflection of customer satisfaction, but also competitor’s rates and overall quality. Beonprice HQI™ is able to include this information into the algorithm to always suggest a fair price for your strategic decisions.
ENHACING YOUR OVERALL STRATEGY
If you identify what a guest is willing to pay for the quality that you offer, and therefore have a fair pricing strategy during the pre-stay stage of the guest journey, then all of your guest retention efforts later in the guest journey (in-stay & post-stay) will be based on a much more fertile ground and will be more effective.