Cornelio Encarnacion, Associate Director Customer Success, LATAM, and renowned Duetto Revenue Driver, shares his top tips for boosting total profitability for hotels. From room-type pricing rules to creative packages built for profit. Here’s how:

Room Type Pricing Rules

By embracing an  Open Pricing philosophy, hoteliers can optimize and increase ADR at the room type level by incorporating the Start Event condition within their Room Type Pricing Rules. Start Event allows users to price rooms based on their remaining inventory. This strategy can be implemented for an individual room type or a combination of rooms, allowing pricing based on unique inventory or the availability of other room types. This approach effectively increases ADR, particularly for enhanced rooms, while ensuring that upgrades are not provided for free.

This article is an excerpt from Duetto’s latest special report, How to Boost Your Hotel’s Total Profitability. Download your copy here: https://www.duettocloud.com/special-reports/how-to-boost-your-hotel-total-profitability

Multi-Currency

Appealing to local markets within resort destinations is crucial. Hoteliers can achieve this by offering rates, packages, and promotions in the native currency of the target market. Implementing a fully dynamic strategy in multiple currencies simplifies the process, ensuring easy setup and management. Hoteliers can rely on pricing applications like Duetto’s GameChanger pricing application to handle market currency changes, keeping exchange rates up to date and keeping their resorts aligned with the market. Additionally, users have the flexibility to accept or implement custom currency changes based on predefined conditions at a company level.

Packages

Packages are a highly profitable segment in resort destinations, representing an excellent source of business. Leveraging a Pricing Rule model, hoteliers can dynamically price packages based on seasonality and demand conditions. This dynamic pricing strategy allows rates to fluctuate in line with demand, driving more bookings and increasing profitability. Hoteliers can set parameters such as days before arrival, historical data from the same period in previous years, current booking trends, or other predefined conditions to create enticing packages that attract guests.

To gain deeper insights into pivoting your business strategy towards total profitability, download and explore Duetto’s latest eBook, "How to Boost Your Hotel’s Total Profitability." https://www.duettocloud.com/special-reports/how-to-boost-your-hotel-total-profitability