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Guestrev - a day in the life - pricing recommendations

This video is part of a learning series designed to demonstrate how a revenue management professional uses Guestrev daily to review hotel performance and rate recommendations to maximize revenue for their hotel.

Pricing recommendations are directly below the occupancy metrics on the day view tab. Pricing recommendations are displayed by room category and control segment. Pricing is recommended for each control segment, optimizing the inventory, accounting for total guest worth, including room and ancillary revenues.

Select the Play icon at the bottom to begin the video.

The market rate in the top right side of the pricing tile represents the weighted average sell rate of the competitive set. The rate displays the blended competitive set rate for the selected date.

  • Clicking on the market rate displays the rates for each competitor, ordered high to low according to the competitive weighting configuration for the property.
  • Depending on the configurations, the market rate can set to influence pricing recommendations.

Guestrev is forecasting and generating rate recommendations for each room category to optimize the property based on the unique demand patterns and statistics of each room category.

Within each room type, demand is categorized by Control Segments defined by the property based on the customer valuation. Guestrev forecasts and prices based on the total value of each segment. For example, the Control Segment 100+ represents Casino guests who have previously spent $100-$124 on an average daily basis. The Guestrev forecast assumes guests will continue to spend at that same level during their next visit.

  • “Prev” column- represents rates last sent from Guestrev to the PMS. CROOM indicates a complimentary room for that control segment. Control segments with a dollar value would receive the cash rate when booking.
  • “Rec” column- represents recommendations based on the last system optimization.

The options are to accept the pricing recommendations, keep the current pricing, or send through a manual rate recommendation. The manual override can occur for either cash or comp rates. It is recommended to override the demand as opposed to overriding the rates.

Would you like to continue diving into Guestrev? Check out our learning series below.

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