Dynamics of the hospitality industry is constantly changing and new perspective for hotels is arising on how to provide it’s guests a great experience. The tourism sector began to recover from the pandemic, so naturally, businesses in the industry are finding new ways to attract tourists in order to compensate their losses.
Since for any hotel, maximizing revenue is a top priority, the right pricing strategy should be a step number one. That’s where DWEM Price Comparison comes in. But, we will get back to that, let’s first see what’s new in the industry.
In 2022 Hospitality Industry will focus on:
Holistic hospitality, health & well-being
Holistic tourism has become a new and alternative form of tourism and an important trend among tourists who seek programs and experiences that would allow them to achieve balance between mind, body and soul. This new normal situation makes new opportunities for the global wellness industry. The report by Global Wellness Institute states that the physical activity economy will exceed $1.1 trillion by 2023. The report also states that Asia-Pacific will overtake North America as the largest market, with 40% of global growth through 2023. Mindful movement will be the #1 growth sector (12 percent annually from 2018–2023), taking a jump from $29 billion to $52 billion market.
Bleisure travelers
Bleisure combines the words “business” and “leisure” and describes a new form of tourism: a business travel that is associated with leisure activities (spa, ski, golf, sightseeing etc.) and which can involve guests of the business traveller. With a hybrid model of working, bleisure is expected to increase in popularity throughout 2022. Hotels will need to prepair to these demands and needs.
Omnichannel Communication
Hotels are turning to CRM (Customer relationship management) solution providers who can help them offer an automated hyper personalized guest communication more effectively via platforms such as WhatsApp, email, and so on. Omni communication has proven to increase the guest engagement by 97%.
Hotel Pricing Strategies
These strategies can be used to increase your revenue. Having the right room rates plays an important role in generating revenue, as well as boosting occupancy, and gives you the ability to increase profit. The goal of having the right price is to sell as many possible rooms.
DWEM Price Comparison
This solution is a unique, customized service, providing hotels with a continuous comparison of their own prices with current prices and other attributes being offered by competing hotels at any point in time.
Fill your hotel to capacity
Generally, prospective guests use different platforms and methods so as to find the best accommodation offer. Their decision to make a reservation will be influenced not only by room price, but by other conveniences offered. For this reason, the DWEM Price Comparison service offers users not only the ability to compare accommodation prices; it tracks and compares other attributes which make up an individual offer – with the aim of ensuring quality support before you come to a decision on your own prices and offers.
Increase profit
Getting to know the competition, how and when they change their prices, what their reservation cancellation policy is, what additional benefits they offer their guests and so on – all this is information which, ultimately, helps you to formulate the best and most competitive offer. Via the DWEM Price Comparison service it is also possible to bring into play the capability of dynamic price positioning, which is based on algorithms you can determine yourself, automatically defines the best possible accommodation price, and will maximise your income and profit.
Convert potential into customers
When searching for accommodation and looking for the best possible offer, prospective guests will visit well-known global reservation platforms, individual hotel web pages or use price comparison tools. As soon as they arrive at the right combination of price and other parameters (inclusive services, payment method and so on), their decision to make a reservation will be very rapid. The DWEM Price Comparison service is designed with this in mind – offering support for your business so that it can keep a step ahead of the competition at all times.
