✌ From the Revenue Management department at Weguest, we work to achieve maximum profitability for your tourist property.
To do this, we establish a pricing strategy based on the following key points:
- Property characteristics: we take into account the quality, capacity, and services offered.
- Booking history: we study the booking history obtained from accommodations with similar characteristics.
- Seasonality: as these are tourist bookings, prices can vary significantly during different months of the year, sometimes doubling or tripling the nightly rate.
- Events: we create a calendar of events in your area.
- Competition: we check nearby accommodations to your property.
- Booking lead time: we actively monitor the lead time to a potential booking.
- Listing maturity: the maturity period of a listing is a fundamental aspect. Until this point, we cannot reach the maximum price.
It is important to note that prices are dynamic and will vary as different factors fluctuate. Additionally, we establish annual profitability goals for each property, aiming to achieve these results, so it is important to evaluate the results annually before drawing conclusions about the economic performance.
Technology for price management
From the Revenue Management and Weguest Datalab departments, our goal is to achieve maximum economic benefit for your property.⚡
How do we do it? We'll tell you our secret!
- At Weguest Datalab, we have a price algorithm that controls and predicts real-time booking creation.
- Our data mining and artificial intelligence technology allows us to analyze millions of data points on the supply, demand, and competition in the tourism sector.
- Thanks to our Weguest Platform booking engine, we compare historical data from over 50,000 bookings managed by Weguest to date.
- To achieve maximum scalability, we connect our BigQuery databases to secure Google Cloud environments.
🍍If you want more detailed information, you can check other articles in our Help Centre or contact us via email at📩firstname.lastname@example.org. We will be happy to assist you.