Through this pricing system, the OTA platform will automatically offer a certain price
Posted: Wed Jan 22, 2025 6:03 am
The second possibility is that someone took up the discount offer, but on the 2nd, the guest didn't even come to check in because they couldn't get leave or the leave wasn't approved . The booking status became no show . Then we need to refer to the cancellation policy used by the OTA platform. Do they allow customers to request a refund, or is the booking considered final and non-refundable? I find the discussion about the smart pricing or dynamic pricing system quite interesting, since this pricing system has its advantages and at the same time, it also has its own shortcomings and weaknesses.
and this price is based on factors such as i. Number of bookings for other similar residences bc data hong kong in the same area ii. The season or month the booking takes place (festive season, school holidays, public holidays, etc.) iii. Number of guests who will stay After taking these factors into account, the smart pricing algorithm will suggest a suitable and competitive price at that time.
Customers need to make a decision quickly, whether to take the offer, or risk missing out on the opportunity to book. This smart pricing system can help homestay and lodging business owners to get customers especially during low season, and help get more profit during peak season. Smart pricing algorithm will automatically show higher price during peak season and high demand. This means that the advantage of smart pricing is that it can help increase business owners' profits, by providing competitive prices based on the current market situation and current demand.
and this price is based on factors such as i. Number of bookings for other similar residences bc data hong kong in the same area ii. The season or month the booking takes place (festive season, school holidays, public holidays, etc.) iii. Number of guests who will stay After taking these factors into account, the smart pricing algorithm will suggest a suitable and competitive price at that time.
Customers need to make a decision quickly, whether to take the offer, or risk missing out on the opportunity to book. This smart pricing system can help homestay and lodging business owners to get customers especially during low season, and help get more profit during peak season. Smart pricing algorithm will automatically show higher price during peak season and high demand. This means that the advantage of smart pricing is that it can help increase business owners' profits, by providing competitive prices based on the current market situation and current demand.