TROMPAR`s Customer Segment Pricing Strategy for Hotel Group Bookings Is a Game-Changer
Strategic and scientific pricing for group bookings is critical for revenue optimization.
TROMPAR`s industry-leading hotel group booking solution empowers hotels to create a customer segment-specific pricing strategy. The solution currently handles 4 customer segments i.e. Corporate, IATA travel agents, tour operators (non-IATA), and FIT/Leisure (Retail).
Read More: Oro Inc. Launches OroMarketplace to Drive Multichannel B2B Sales Growth for Businesses
Group pricing is currently managed by calculating displacement cost and identify the economic/financial impact of accepting a group over other customer segments. In order to calculate displacement cost, a hotel has to first have a fairly accurate customer segment level forecast.
A simpler and more effective approach employed by TROMPAR is to identify the specific customer segment and apply strategic discounting to price groups.
Read More: SalesTechStar Interview with Nikhita Hyett, MD, Europe at BlueSnap
“Every customer segment has a different buying behavior and it is critical to price based on what the segment would be more willing to accept” Gautam R, CEO TROMPAR Labs
TROMPAR automates group bookings for hotels. It has two major components 1. Sales management and 2. Revenue management. Hotels can devise complex segment-specific strategies and easily implement them with TROMPAR to optimize revenue. The solution dramatically reduces turnaround time for responding to group requests and exponentially increases conversion.
Read More: Winning In Sales In A Pandemic, One Year Later
