How Preno’s Dynamic Pricing Gained The Pink Hotel an Extra $18.64 per Booking
Earlier this week, we announced the release of Preno’s highly anticipated tool—Dynamic Pricing. Specifically designed for hoteliers, this tool works in the background constantly adjusting room rates for properties. It increases the price of a room as demand increases, allowing hoteliers to increase additional revenue from their limited number of rooms.
In preparation for the launch, we granted exclusive early access to a select group of long-term customers, allowing them to test the tool before its official launch day. One of the first hotels to get to experience Preno’s Dynamic Pricing tool was The Pink Hotel in Coolangatta.
After just 2 weeks of usage, the Pink Hotel experienced remarkable growth with Preno’s Dynamic Pricing implementing 198 price adjustments. On average, each booking resulted in an extra $18.64 in earnings.
Since 2019, The Pink Hotel has been a valued customer of Preno’s. Recently, we had the opportunity to chat with Freya Frenzel, the manager of The Pink Hotel, to hear her thoughts on our new tool and its results so far.
According to Freya, using Preno’s Dynamic Pricing tool has been a breeze. She mentioned, “It was very easy to set up and use, very user-friendly.” To her, it was an obvious choice, stating, “you would be silly not to use.”
Freya acknowledged the challenges and the additional workload that came with manual management, stating, “I was constantly trying to keep up with setting the rates… It was a lot of extra work.” She stressed the benefits of automation in rate setting, explaining, “It ensures that we can make extra revenue without having to monitor it every day for the next two years, on a daily basis and you know, always watching what’s happening. Basically, it’s gaining us extra revenue without having to do anything physically.” The tool has proven to be indispensable in the monitoring process and future bookings, making it an essential component of their operations. “We highly recommend it to everyone.”