Guidelines – an important tool to reach the revenue goals
All hotels are aiming for maximizing and increasing their revenue. It is not enough just setting prices; one has to work strategically and conduct ambitious preparations that involve many different persons within the hotel to be successful. It is important to start with doing a prompt analysis of the business and that the management of the hotel agrees upon and sets a price strategy. To produce a price strategy and the guidelines and policies attached to it lays the foundation for the upcoming work with setting prices. Without having done these preparations, you are not ready to start with the price setting.