Simplifying Pricing for Independent Hotels with Lighthouse’s Pricing Manager

Pricing Manager analyzes both internal and market data, including pickup rates, occupancy forecasts, and competitor rates. The outcome? Optimal pricing for your hotel. And you always have control-easily adjust pricing rules as you see fit in the settings.

Imagine this: you’re the owner of a charming boutique hotel nestled in a bustling city. Each day, you juggle a multitude of tasks—managing staff, ensuring guest satisfaction, overseeing operations, and more. Running an independent hotel presents unique challenges, one of the biggest being pricing.

Finding the optimal price amidst fluctuating market demand, competitors, and occupancy can feel like a never-ending struggle. Pricing rooms too high scares off potential guests, while pricing them too low leaves money on the table. And when you see the hotel across the street adjust their rates, you wonder what information you’re missing.

The Pricing Challenge for Independent Hotels

Competition in the hospitality industry has intensified. While there’s no one-size-fits-all approach to pricing, maintaining a flexible strategy is essential for agility and responsiveness to market changes. However, being nimble requires time, effort, and expertise—luxuries that many independent hotels can’t afford. This is where Pricing Manager steps in.

How Pricing Manager Works

Data Quality: At the heart of Pricing Manager is superior data quality. The tool is fed by over 2 billion rates daily, ensuring recommendations are based on the most comprehensive data available. This robust dataset, trusted by over 65,000 hotels worldwide, forms the foundation for accurate pricing.

Transparency: Lighthouse believes in transparency. Pricing Manager shows you the factors influencing its recommendations, giving you control over your pricing strategy.

Compset Selection: Your pricing strategy is influenced by competitors, so Pricing Manager helps you identify and adjust your compset—hotels similar in location, star rating, and amenities. This ensures your pricing aligns with the most relevant competitors.

Historical and Forward-Looking Data: By analyzing both past and future booking trends, Pricing Manager captures seasonalities and emerging trends up to 365 days ahead. This dual approach ensures your pricing is both reactive and proactive.

Occupancy and Booking Pace Monitoring: Pricing Manager analyzes your typical booking patterns to understand how your rooms are being booked. It adjusts recommendations based on current occupancy and booking pace to optimize your pricing strategy.

Customization: Pricing Manager allows you to tailor rate settings to match your hotel’s specific needs, whether it’s Best Available Rate (BAR), Lowest Rate, Best Flex, Length of Stay, or guest count.

Benefits of Automated Pricing

Running an independent hotel is demanding. Pricing Manager simplifies revenue management, allowing you to capture your fair share of the market at the right price. With accurate, data-driven recommendations, you can focus on providing exceptional experiences for your guests.

About Lighthouse

Lighthouse, formerly OTA Insight, is the leading commercial platform for the travel and hospitality industry. Trusted by over 65,000 hotels in 185 countries, Lighthouse provides actionable market insights and pricing tools to maximize revenue growth. They are committed to innovation, delivering the best platform for hospitality professionals to price effectively, measure performance efficiently, and understand the market in new ways.