Tweed Harbour Motor Inn started using Preno’s dynamic pricing after it’s initial release. Within 30 days, their property gained an extra $3833.25 additional total revenue, with an average $33.33 increase per booking made and 469 price adjustments. Jade Vincent, who helps manage the Inn, takes us through her experience and how dynamic pricing has changed the game for them.

Tucked away in the beautiful, quiet area of Tweed Heads, the Tweed Harbour Motor Inn is not just known for its great location near beautiful beaches and important places but also for its outstanding customer service. It has become a special place for guests looking for a peaceful stay.

“Our average daily rate increased by 15%”

Dynamic pricing was something Tweed Harbour Motor Inn had never tried before. “We were new to the industry. We hadn’t done dynamic pricing before,” said Jade, expressing the worries they had before starting. Their main worry was if the new system would give them the most for their money, “the best bang for my buck,” as Jade puts it.

Despite the initial uncertainty, the setup process turned out to be a breeze, much to Jade’s relief.

“It was really easy,” she recalls about her experience, “I did one of the tutorials with you guys, and I set it up while I was doing the tutorial at the same time.”

As an early adopter of dynamic pricing, Jade initially couldn’t see how much she was making from the tool. However, when Preno made this feature available to their customers via their dashboard, Jade was pleasantly surprised by the extra revenue they had earned. “It was great to be able to see it and understand it,” she says.

But more than just increased revenue, dynamic pricing has also made things easier for Jade and her business. As she currently travels around Australia with her family, dynamic pricing has given her the freedom she needs.

“I wasn’t having to go in every day, check and make adjustments,” she explains, “so it saved us time and gives us peace of mind whilst having managers in there that we are gaining the best possible revenue.”

Moreover, dynamic pricing has also helped them meet their monthly Key Performance Indicators (KPIs). As Jade says, they have seen “an average daily rate increase by 15%” since implementing the tool.

With dynamic pricing taking care of their pricing strategies in the background, they’ve found “it’s assisted us in meeting our KPIs for the month and allowed us to increase and aim higher with our budget and KPIs as well.”

If you’d like to try Preno’s Dynamic Pricing and see how it can work for your business, sign up for Preno’s 7-day free trial.