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The Pricepoint Blog

Pricepoint is about bringing hoteliers together and moving the industry forward. We are glad to share with you insights, practical advice, interviews, and opinions. We understand hoteliers.

Hotel Revenue Management
Why You Shouldn’t Only Consider Competitor Prices When Adjusting Room Price

Why You Shouldn’t Only Consider Competitor Prices When Adjusting Room Price

Let’s say we know for sure that our competitors are using the latest technological marvels to set their prices. They scan all of their competitors’ prices, and then set them – manually. Somebody is probably inputting that data – as long as it’s a manual process, there’s probably a human involved. No matter how advanced a technology, there’s always room for error thanks to us reliable ol’ humans! How do we know a competitor set their prices without a typo? Accidents happen – don’t let your accident be only considering competitor prices!

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