Determining the hotel’s rack rate is the million dollar question for revenue managers. There is no right or wrong answer to this question, but as a general rule, the more quality data and analytics that go into determining a rack rate, the more likely the rack rate is to be successful.
A rack rate is a valuable tool for Revenue Managers. It serves many purposes beyond being simply the “rate of the day.” Dozens of dynamic discounts and packages flow from it. It can also act as a “canary in…
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