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Guest Reviews & Dynamic Pricing: A Win-Win for Guest Satisfaction and Revenue? – By Ewa Gabara – Image Credit TrustYou
Revenue Management System, Property Management System, and Guest Experience Platform walk into a bar… The bartender looks up and says, “What can I get you three?” They reply in unison, “The perfect balance of guest satisfaction, seamless operations, and optimized revenue.”
It’s not just a punchline—it’s the ultimate goal for every hotelier. And the secret ingredient? Guest reviews. They’re the unscripted, unfiltered feedback that tells you what guests really want and need. From fine-tuning pricing strategies to improving operational efficiency, reviews are your golden ticket to success.
So how do you turn guest feedback into actionable strategies that inform your pricing and maximize revenue? Let’s dive in and uncover the answers with insights from leading experts shared in our German-speaking webinar, “What Guests Want: Optimizing Revenue and Offerings with Review Analysis.”
Why guest reviews are your most valuable data
Guest reviews go beyond compliments and complaints—they’re a treasure trove of actionable data. André Kaufmann, a hospitality veteran and expert at TrustYou, the All-in-one Guest Experience Platform, emphasizes:
“Reviews are direct feedback from guests. Ignoring them is like ignoring a guest standing at your front desk. They are the foundation for understanding needs and optimizing offerings.”
TripAdvisor’s 2019 survey showed that 81% of travelers always or frequently read reviews before booking accommodations. Well-managed reviews don’t just attract guests—they justify higher rates and build long-term loyalty.
Connecting reviews with revenue: the smart strategy Reviews justify higher rates
Did you know guests are willing to pay more for a better-reviewed property? As André explains:
“Guests will pay premium prices if their expectations align with the experience. Meeting those expectations allows you to increase rates confidently.”
By tracking patterns in guest feedback, travel accommodations can identify areas where their services exceed or fall short, allowing them to align pricing with perceived value strategically.
Data-driven pricing decisions
Guest reviews are a key component of dynamic pricing strategies. Maurice Sausse from Guestline, the Hospitality Software Platform, explains how integrated systems support this process:
“Our PMS connects reviews with pricing tools, allowing hoteliers to adjust rates in real-time based on guest feedback and market conditions. This creates a seamless cycle of improvement and optimization.”
Technology: your secret weapon in guest reviews analysis Integrating PMS, RMS, and Review Platforms
Modern systems like RoomPriceGenie and TrustYou support hoteliers in collecting, analyzing, and acting on guest reviews easily. Hendrik Niehues, Business Development Manager for DACH at RoomPriceGenie, highlights the importance of integration:
“By combining a PMS and RMS with a review platform, you can bring together data points that might otherwise stay siloed. This integration helps uncover actionable insights for both pricing and guest satisfaction.”
Automation for smarter operations
As a hotelier, you have millions of things to do daily. Reading, answering, and analyzing reviews, and adjusting prices are full-time jobs in themselves. Technology reduces the burden of manual processes, allowing you to focus on creating memorable guest experiences. Automated review analysis pinpoints improvement areas and identifies opportunities to upsell or refine pricing.
How reviews shape revenue during major events
Big events like the European Football Championship in Germany 2024 are prime opportunities for hoteliers to maximize revenue. High demand often means significantly higher room rates—but what do those price hikes mean for guest expectations? Higher expectations.
Maurice from Guestline highlights this dynamic:
“Hotels with better reviews and optimized pricing strategies achieved higher revenue during the event. Guests were willing to pay premium prices when their expectations matched the hotel’s offerings, as reflected in their reviews.”
Guest expectations and reviews during big events
During high-demand periods like championships, trade fairs, or music festivals, guest reviews often point out areas for improvement, such as room cleanliness or breakfast quality. Addressing these points proactively ensures higher rates align with elevated guest expectations. For instance, investing in extra cleaning services or enhancing breakfast offerings before a major event can make a significant difference in guest satisfaction.
The dynamic pricing-review conundrum
A common concern among hoteliers implementing Revenue Management Solutions like RoomPriceGenie is the potential impact of dynamic pricing on guest reviews. What if price changes negatively affect guest satisfaction?
Here’s the good news: most travelers are accustomed to price fluctuations during peak demand periods. A ZHAW School of Management and Law study confirms that hotels using dynamic pricing see no significant changes in overall satisfaction, perceived price fairness, or intention to recommend.
However, pricing missteps can occasionally lead to dissatisfied guests. The European Football Championship in Munich provided a perfect example. Many hotels raised prices significantly, assuming the event’s popularity would drive bookings regardless. Unfortunately, guest reviews suffered when pricing strategies focused solely on the event without considering market demand or competition.
Hendrik adds:
“Solutions like ours help hoteliers find the sweet spot—pricing that captures demand while aligning with guest expectations. This ensures higher revenue without sacrificing reviews.”
The role of integrated technology in better guest experiences
Guest satisfaction isn’t just about what happens during a stay—it’s about every touchpoint in the guest journey. Technology plays a crucial role in this process:
- Seamless Check-Ins: A PMS with online check-in and integrated guest experience platform allows for smoother guest arrivals, reducing queues and improving first impressions.
- Personalized Experiences: By analyzing reviews, hotels can tailor offers, such as customized welcome amenities or room upgrades.
- Continuous Feedback Loop: Automated systems collect and analyze feedback, ensuring issues are addressed promptly and improvements are ongoing.
Guest reviews: part of your pricing strategy
Whether you manage a large 500-room city hotel or a small guesthouse with eight rooms in the Alps, guest reviews hugely impact your property.
They are more than feedback—they’re opportunities to grow, improve, and optimize. Modern technology lets your property stay competitive, meet guest expectations, and maximize revenue.
Watch the webinar replay: “What Guests Want: Optimizing Revenue and Offerings with Review Analysis”
Want to dive deeper into how reviews can drive revenue and guest satisfaction? Watch the full webinar replay with hospitality experts here. Their insights will help you transform guest feedback into actionable strategies for your property.
Ewa Gabara, Content Marketing Strategist at RoomPriceGenie. Connect with Ewa on LinkedIn.
About TrustYou
TrustYou streamlines communication and feedback processes in today’s fast-paced business landscape. Recognizing the importance of consolidated communication channels, the company focuses on providing instant responses across customer-preferred channels. Listening to Guest Feedback is a key driver for making customers happy, refining products and services, and overall business strategies.
At the heart of TrustYou is the Customer Experience Platform (CXP) Platform, a robust solution facilitating seamless customer interaction. CXP empowers businesses to:
- Listen and respond to guest needs effectively, creating limitless opportunities.
- Understand comprehensive insights from various online platforms, aiding informed decision-making.
- Showcase hotel reviews on websites and Google, leveraging positive feedback to influence bookings.
TrustYou is committed to enabling companies to build trust, make informed decisions, and emerge victorious in their industries. Learn more about TrustYou and our CXP platform at www.trustyou.com.
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