Greetings, revenue maestros!
If you're craving a revenue strategy that's both savvy and seamless, dive into the Amenitiz PriceAdvisor! This tool isn't just about numbers; it's about unlocking the potential for maximum profits. Let's embark on this pricing adventure together!
Amenitiz PriceAdvisor is a powerful revenue management tool designed to help hoteliers optimize their pricing using data-driven insights. By leveraging real-time market data, competitor pricing, occupancy rates, and seasonality, PriceAdvisor simplifies the process of adjusting rates to maximize revenue while reducing manual effort.
1️⃣ Activation
To make the most out of the tool you need to activate PriceAdvisor in the left menu of your Amenitiz account. Simply click on the Planning tab and then PriceAdvisor — your gateway to optimised pricing.
Alternatively, if you’re interested in subscribing to PriceAdvisor, you can request a quote by navigating to the Marketplace tab in your Amenitiz account. Select PriceAdvisor, review the current pricing details, and submit a request to activate the service.
2️⃣ Keep an eye on your Competitors
To stay ahead in the pricing game, choose your competitors wisely. 👀 The tool can do it automatically for you, the only requirement is that you insert your property's Booking.com URL. Here's how 👇
To refine your competitor set, access the settings to assign your top three competitors for a particular group. Additionally, you can rename the set, adjust the accommodations, and tweak the minimum night stay to tailor your strategy.
and assign your top three competitors for that group. You'll also have the option to change the name of the set, and edit the accommodations and the minimum night stay.
You can have more than one set. Repeat the dance for another group if needed!
3️⃣ Set the limits and holidays
Set the rules and make sure the algorithm dances to your tune. Click on the "Settings" button and set both the minimum and maximum prices for each accommodation and the local & school holidays.
It is crucial to not miss out on revenues on those most impactful days of the season. For more information please take a look at this article.
4️⃣ Navigate and Approve
Now comes the thrilling part — setting your prices. Navigate to Planning> Inventory (on your account's left menu) glance at the "Price Recommendations" line, and voilà! You can update prices individually or in bulk. The power is in your hands! Let me show you how 👇
Rate recommendations include helpful indicators:
Red Indicator: Suggests lowering rates to boost booking potential.
Green Indicator: Indicates favorable conditions for raising rates. These insights help maintain competitive pricing while retaining full control over your strategy.
💡 Tip
Price recommendations are visible up to 180 days in the future.
The pricing algorithm refreshes daily to incorporate the latest market trends and competitor rates, ensuring recommendations stay up-to-date. Allow up to 24 hours for applied changes to synchronize.
Curious to see PriceAdvisor in action? Dive into our 14-Days Trial and experience firsthand how it can transform your revenue strategy. Explore, experiment, and elevate your pricing game. Start your trial now.
Key advanced features of PriceAdvisor include the ability to analyze competitor pricing, perform bulk rate updates efficiently, and centralize management for streamlined property oversight.