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So you’ve got your pricing strategy. You got your data, you got your forecasting. How do you go about actually managing the pricing of your portfolio properties? What are you going to be doing day to day? So. Ideally, you want to be updating your pricing twice a day. And you won’t be updating it across all of the platforms where you offer your properties. And you will be updating it based on what the competition is doing. You need to be competitive in this market. Competition moves all the time, particularly short term LEPs. The pricing is always going to be moving. So you make sure that you are staying ahead of the curve. You’re not suddenly becoming uncompetitive for whatever reason. So. You need to make sure that you have a process and a system for updating your pricing smartly twice a day across all of the platforms that your own. See, there’s tools that you can use to help you achieve this. There are third party tools out there that you can soffer as a service tools or standalone tools that you can buy or subscribe to. You won’t be looking for tools called revenue management systems. That’s the catch all term for these types of tools. On some of the platforms, they have their own pricing tools and systems and places where you can update the pricing. So you’ll be using those as well.
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