Pricing in the hostel industry: How can technology help?

Maximising revenue is the ultimate goal of any hostel owner, especially in today’s market environment, but developing an effective strategy is something that industry professionals have long struggled to get right. Often it comes down to lack of time and resources — many hostels may not be able to dedicate a full-time revenue manager to the job of devising a dynamic pricing strategy, tracking competitor pricing, and adjusting rates on a daily basis.  

As a leading provider of comprehensive PMS technology enabled with pricing intelligence capabilities, Cloudbeds will educate attendees on how they can easily implement and automate revenue management strategies into their daily operations to always ensure competitive rates.  

Listeners will learn:

• Three pricing strategies for boosting occupancy and optimizing rates
• How to monitor compset rates and use them to set your optimal price
• How to automate pricing rules and alerts so that you can adjust your rates based on market conditions and maximize revenue.