Preno’s New Dynamic Pricing Feature
Automatically increase your revenue with Preno’s new Dynamic Pricing tool: Surge Pricing. With this tool Preno can now increase your rates when demand is high—without you having to lift a finger.
4 Advantages of using Preno’s Dynamic Pricing:
Let’s delve into what Surge Pricing can do for your hotel:
1. Surge Pricing: Increases Your Mid-Week and Weekend Rates
With Preno’s Surge Pricing tool, you can ensure that you are always maximising your revenue during periods of high demand. This Dynamic Pricing feature automatically adjusts your rates based on the current market conditions, allowing you to capitalise on unexpected busy periods.
After all, you never know when you might experience a sudden influx of visitors, so Preno’s Surge Pricing tool will increase your mid-week and weekend rates as soon as it notices you’re getting busy.
2. Surge Pricing: Maximise Revenue During Local Events
Similarly, when demand is high in your area due to events, conferences, or festivals, the Surge Pricing tool enables you to automatically increase your daily rates to capture maximum revenue. With just a few simple steps, you can create pricing rate rules that change according to the occupancy percentage, and let Preno handle the rest.
3. Real-Time Updates: Stay Competitive 24/7
One of the key advantages of Preno’s Dynamic Pricing tool is its ability to update rates in real-time, 24 hours a day, 7 days a week—even while you sleep. Unlike other tools that offer delayed updates, Preno ensures that you are always offering the best price for your rooms. By constantly reacting to your demand and adjusting rates accordingly, you can stay competitive and attract more guests, ultimately boosting revenue and RevPAR (Revenue per Available Room).
4. Monitoring Your Future Rates 720 days in advance
Once your auto rates rule is live, Preno will automatically monitor your rates up to 720 days ahead to ensure you’re always getting the best rate for your rooms for the present and the future.
It’s impossible to monitor all bookings across that many days manually. That’s why we made sure Preno can now do that for you – with every new booking Preno will check to see if any of your rules are met and adjust the rates accordingly.
By automating your rate adjustment process with Preno’s Dynamic Pricing tools, you can save valuable time that would otherwise be spent manually reviewing and updating daily rates. Moreover, you can optimise your revenue by capitalising on high-demand periods and attracting last-minute bookings.
Last Minute Pricing (Coming Soon): Attract Last-Minute Bookings
A room without a guest, is money left on the table. To fill up your rooms during low-occupancy periods, Preno’s upcoming Last-Minute Pricing tool will automatically decrease your daily rates. This ensures that you are attracting last-minute bookings and increasing your occupancy rate—thereby making the most out of your rooms available.
Would you like to learn more about Preno’s newest feature? Sign up for our Surge Pricing demo.
Subscribe to our newsletter
Other Blogs you may also like
How to use user generated content to drive your visual marketing
Visual marketing is an effective platform for accommodation providers. It’s not enough to just sell the value and benefits of your accommodation, these days you have to sell the guest experience. An easy way for accommodation providers to sell the guest experience is through visual marketing, particularly using customer-generated content. So what is customer-generated content? […]
SEO for hotels: how to strengthen your hotels search engine optimisation
Did you know that your positioning on Google determines your consumer reach? Think back to the last time you searched something in Google – how far did you scroll? It’s almost certain that you didn’t make it past the first page of results. In fact, you might’ve only made it half way down the page. […]
UK’s First-Ever ‘Tourist Tax’ Goes Live in Manchester: Here’s What You Need to Know
In an interesting move for Manchester’s tourism industry, the city has introduced a “tourist tax” for visitors. Manchester is the first city in the UK to implement such a scheme, which will see an additional £1 charged per room, per night for accommodation costs. The funds raised from this extra charge will be used to […]
How to stay competitive in the accommodation industry
Staying competitive in the accommodation industry can help you get more guests at your hotel. While running your own accommodation is challenging, you need to know who your competitors are and retain a competitive edge. Here are 4 ways you can stay competitive in the accommodation industry. Research your competitors You can find your competitors […]
Why Hotel Automation is the Next Big Thing in Hospitality
Technology has established itself as a crucial part of our personal and professional world. The hospitality sector, which has a high demand for positive experiences, has seen technology deliver greater customer satisfaction. Automation has been adopted by a large number of leading hotel chains across the globe. From reserving a room to paying the bill […]
Get a Sneak Peek Into Preno’s PMS Capabilities with Our New Video
At Preno, we pride ourselves in creating a hassle-free property management system for the hospitality industry. Our software is comprehensive, user-friendly, and ensures seamless hotel management. To help you get a better understanding of our software, we’re excited to launch our new explainer video. Our explainer video is a fun and casual representation of all […]