TROMPAR`s customer segment pricing strategy for hotel group bookings is a game-changer.
TROMPAR: Hotel Group Booking Solution
Strategic and scientific pricing for group bookings is critical for revenue optimization.
SANTA CLARA, CA, USA, July 26, 2021 /EINPresswire.com/ — 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).
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.
“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.
About TROMPAR Labs
About TROMPAR Labs
TROMPAR Labs is a travel technology company focused on building cost-efficient solutions for the travel industry. TROMPAR`s first product is an astonishingly easy-to-use and phenomenally effective automated group sales and revenue management solution for hotels.
Staff Reporter
USA Hospitality News
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July 26, 2021, 17:05 GMT
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