THOUGHTFUL THURSDAY: Automate Pricing Strategy with STAAH Max Revenue Management feature

An efficient automated pricing feature increases revenue by capitalizing on the ever-changing market demand and implementing the optimal price point at all times.

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How to use the Revenue Management feature in STAAH Max?

Two ways to use the revenue management feature

1. Dynamic Rate – Room Type level
2. Dynamic Rate – Property level

1) Dynamic Rate – Room Type level

Dynamic Rate can be set up for individual room types based on seasons (High, Low, Peak, etc.).

These rates are updated automatically to the Booking engine and OTAs as per the Dynamic rules set-up.

Step 1 – Set up Season – Select dates > Select Season > Save

Step 2 – Set up Dynamic Rates > Select Season for Room > Enter From and To > Enter rate for this room slab > Save > Sync

Step 3 – Set up Rate Mode – Select Dynamic > Select Rooms from drop-down > Enter Date Range > Save

2) Revenue Control – Property Level

Dynamic Rate can be set up based on the total occupancy of the property.

Depending on the occupancy of the property, rates are updated to the Booking engine and OTAs as per the Dynamc rate setup.

Step 1 – Set up Master room 

Step 2 – Set up Seasons

Step 3 – Set up Pricing (Default, Peak, High, Shoulder, Low)

Step 4 – Set up Formula

Step 5 – Confirm Pricing > Finish & Submit

Step 6 – Select Rate Mode > Dynamic > Room Type > Date Range > Save

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To find out more on the Revenue management feature click here

In case you missed tips on STAAH Thoughtful Thursday read here