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Is Rate Parity Holding Your Hotel Back?

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In the hotel business, many hoteliers face the Rate Parity issues, because of that, their hotels hold back, which is common practice in hotel Revenue Management, but the point is, have you observed how? Let’s understand Hotels should instead consider a dynamic, data-driven approach to pricing and distribution, potentially adopting narrow parity or even moving away from wide parity to offer direct booking incentives and optimise revenue in the strong Saudi hospitality market. How Rate Parity Can Be a Barrier for You? A strict rate parity often prevents hotels from offering lower prices on their own brand websites to encourage guests to book direct, which is more profitable for the hotel. You will see that if hotels fail to offer lower prices on their own brand website, then there would be a greater chance of losing guests who find better deals on OTAs. Being tied to a rate parity policy makes it difficult to adjust prices dynamically in response to local events, demand or competito...
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๐๐ฎ๐๐ ๐ž๐ญ๐ข๐ง๐  ๐ฏ๐ฌ. ๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ๐ข๐ง๐ : ๐–๐ก๐š๐ญ’๐ฌ ๐ญ๐ก๐ž ๐€๐œ๐ญ๐ฎ๐š๐ฅ ๐ƒ๐ข๐Ÿ๐Ÿ๐ž๐ซ๐ž๐ง๐œ๐ž?

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  Maintaining a hotel’s financial wealth requires more than just observing numbers; it needs proper strategic planning and proactive decision-making. These two tools are becoming important for #Budgeting and #Forecasting. While they seem similar, each has a different role. Understanding their differences can help hoteliers to stay financially agile and resilient in a competitive market. Let’s see the key distinctions between budgeting and forecasting in a hotel setting: ๐Ÿ”ต ๐ƒ๐ž๐Ÿ๐ข๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐ฎ๐๐ ๐ž๐ญ๐ข๐ง๐ : It is a process to plan your hotel’s revenue and expenses that align with your operation, using past numbers. ๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ๐ข๐ง๐ : It uses historical data to make an informed prediction about demand, expenses and revenue.  ๐Ÿ”ต ๐ˆ๐ง๐ฉ๐ฎ๐ญ๐ฌ ๐๐ฎ๐๐ ๐ž๐ญ๐ข๐ง๐ : Past financial data, internal expectations and analysis.  ๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ๐ข๐ง๐ : Analyse the past financial data, take expert opinions and analyse the industry trend. ๐Ÿ”ต ๐ƒ๐ž๐ญ๐š๐ข๐ฅ๐ฌ ๐ฅ๐ž๐ฏ๐ž๐ฅ ๐๐ฎ๐๐ ...
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Why Every Dubai Hotel Needs a Forecasting Strategy in 2025

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You may observe that Dubai’s hotel business is increasing day by day, and they are envisioning 2025, aiming to grow domestic tourism and strengthen the economy by sustaining hotel demand during the off-season. If we see the entire hospitality market, then we will see that Dubai’s hospitality industry in 2025 is facing high competition. At the same time, nearly 10 million international visitors in the first half of the year and a booming staycation culture are fueling diverse and unpredictable demand. With luxury travellers, business groups, labour shortages, and digital travellers who are all shaping the market with economic fluctuations like inflation and shifting exchange rates, now is the time to change in our work because hotels can no longer rely on guesswork.  So, a smart, data-driven forecasting strategy is now essential. Because it empowers hotels to optimise pricing through Precium AI-powered dynamic tools that help hoteliers to maximise occupancy and Revenue across rooms...
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Why Hotels in the Middle East are Outsourcing Revenue Support & System

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The Middle East’s hospitality industry is increasing rapidly, with Qatar, Saudi Arabia, Dubai, Bahrain, UAE, and Oman all positioning themselves as global tourism and business hubs. As competition increases in this industry, it is evident that hotels are increasingly turning to outsourced revenue support and systems to remain active and profitable in this hotel market. Why? Because outsourcing is not only about cost savings, but also about gaining a competitive edge. Such as cost-saving, when you hire in-house revenue managers and also invest in expensive software, which can be expensive for hotel budgets. So, outsourcing provides you access to both expertise and technology without overload and overwork, which helps to make you a smarter and more flexible solution. Another key point is access to specialized knowledge. Outsourced will easily provide you with in-depth market insights, advanced analytics and proven strategies that help your hotels to optimize prices, boost occupancy and m...
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What If Your Hotel Could Track Real-time OTA’s Rates In One Smart Dashboard? Only With Precium.

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Have you ever thought that you can track Real-time OTA Rates in one smart dashboard? No, right. In this hospitality world, many hoteliers manually track OTA’s Rates on different platforms, which is time-consuming and difficult to manage. What if there were a smarter way? With Precium Rate Comparison Tool, you can easily monitor and compare OTAs’ Rates with your hotel’s brand website in real-time, all from a single and intuitive dashboard. There will be no more hope between platforms, no more guesswork, just actionable insights at your fingertips. Why Real-Time Rate Tracking Matters It helps to stay competitive: Instantly know where your property should stand in the market, and where you can adjust Rates to stay ahead of competitors. Easily save your time: Eliminate manual tracking and data entry from different OTAs. Try to Avoid Undercutting Rate: Easily, you can ensure Rate Parity by identifying discrepancies before hurting your brand value. Make effective Data-Driven Decisions:...
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Why Your Smartphone Shouldn’t Be Your Revenue Manager: Tools That Do It Better

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Can your smartphone be your Revenue Manager? Yes, there are lots of things that your competitors are following, but what about you? Generation Z hospitality is no longer tied to registers, logbooks, or even a dedicated Revenue Manager who sits behind a desk. The hotel industry has evolved, and so have the tools. With advanced, Precium AI-powered solutions, hotels can now manage Revenue smarter, faster, and more accurately than ever before. Modern Precium Revenue Management tools go beyond what your phone can offer. Precium Mobile app tracks competitor rates in real time, forecasts demand shifts based on events and trends, and then recommends optimal pricing strategies, all without any human error or endless hours of manual work. Reports that once took hours to compile are now available in seconds, without human intervention, allowing managers to act immediately. The biggest advantage is? AI-Automation frees you from constant monitoring. Instead of being stuck to your smartphone, w...
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Gathering the hotel’s data and making reports manually isn't a hassle and difficult?

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Have you ever thought that every day you are consuming your crucial time gathering data from various log books and individuals at the hotel, and then spending hours creating a report and analyzing it, is there anything left to add or discuss? Right, then you are wasting your important time on reports that can be done within a minute with accuracy. But what if those hours could be saved? Just imagine having reports with accurate data, instant, and tailored to your needs, ready at the click of a button. That is exactly what Precium AI-automation brings to the table. With Precium AI-automated reporting, analytics, and forecasting tools, all your hotel data is collected in real-time, across departments, without manual effort. Whether it is occupancy, revenue, pick-up trends, or competitor analysis, everything is compiled into legible dashboards and reports within minutes. Also, with the past data, you can easily forecast the pricing. No more chasing numbers, no waiting and no errors. Th...
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