Sample interview questions: How do you handle pricing and revenue decisions for revenue management in different hotel themes or concepts, such as eco-friendly or art-inspired hotels?
Sample answer:
Differentiating Pricing and Revenue Strategies for Diverse Hotel Concepts:
Eco-Friendly Hotels:
- Capture the value of sustainability: Highlight the hotel’s green practices, certifications, and amenities that cater to environmentally conscious travelers.
- Tier pricing based on eco-friendly amenities: Offer higher rates for rooms with eco-friendly features like organic bedding, water-saving fixtures, and sustainable energy systems.
- Promote packages with eco-conscious activities: Bundle room rates with guided nature walks, organic cooking classes, or visits to local parks to enhance the guest experience and generate incremental revenue.
Art-Inspired Hotels:
- Showcase artistic collaborations: Partner with local artists to showcase unique artwork in common areas and guest rooms, increasing the hotel’s aesthetic appeal and creating a differentiating factor.
- Create exclusive art-themed packages: Offer guided tours of the hotel’s art collection, provide access to private art classes, or collaborate with nearby museums for special exhibitions.
- Tailor pricing to art-centric amenities: Consider higher rates for rooms with art-inspired decor, access to exclusive art events, or private viewings with artists.
General Revenue Optimization Strategies: