Lowering hotel rates won't always drive occupancy
Don't be the one to drop rates first, leading to everyone else lowering rates as well
Amid several surprises thrown at the hotel industry in 2022, Theresa Hajko, regional director of revenue management at Spire Hospitality, kept one guiding principal: Try to hold rates.
Key takeaways
- Making advance purchase more aggressive: A longer booking window will drive rate and a shorter window will drive occupancy;
- Making sure you're on all shelves and priced right based on the time of year;
- Drive more people toward brand.com because that's the most profitable channel.
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