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There are a few systems on the market today that claim to offer revenue management or dynamic pricing capabilities. In reality, what they are offering is a simple utilization calculator. While this is a good first step in the right direction it is not true dynamic pricing or revenue management. The problem with these systems is they don’t anticipate demand, they don’t take into account booking windows, conversion percentages or your competition just to name a few.
If you have triggers set to make rate modifications at certain utilization percentages for a particular daypart you are missing out on a ton of revenue. Let’s look at a couple of examples;
If you miss this way throughout a season it could mean tens of thousands of dollars up in smoke.
The bottom line is to have true revenue management you need a team in place to do all that is necessary to maximize your revenue. We are just that team!
“Changing your habits is not easy. But you’ve got to trust the data” – Joe Strohm
Every course has day parts, or segments of their day where they see high demand. But instead of taking advantage of those instances they just set their rate and forget it. “It’s almost spring, time to set our rates for the next 9 months”, sound familiar? Well no more, imagine a world where your rates can fluctuate as much as demand… up and down. Imagine a team dedicated to evaluating demand every day, multiple times per day, and setting your prices accordingly. Your number one revenue source is greens fees and cart fees, it deserves the proper attention, not just focus a couple of times a year.
When you have a team focused on selling your golf, not just waiting for golf to sell the sky is the limit.
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