RocketRez releases Demand-Based Pricing

Inspired by the best practices of hospitality Revenue Management, RocketRez is thrilled to announce the release of Demand-Based Pricing in the RocketRez Web Engine.

Operators can now set custom rules within their RocketRez dashboard to modify pricing and capture additional revenue.

Key Benefits

• Fully controlled by operator
• Live pricing updates to all compatible channels
• Simplified to fit Tour and Attraction customer needs
• Easy to use and train staff
• Runs within RocketRez with no third party

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Tours and Attractions have meaningful differences in customer behavior when compared to a hotel or airline. Demand swings due to seasonality are much more pronounced, and the nature of activity booking tends to be last-minute. Activity operators also run the risk of damaging their reputation with loyal repeat customers should a complex pricing algorithm take over and overreach on price increases.

Demand-Based pricing allows operators to maintain complete control of their pricing. Since any price change rules must be entered by a human, operators can use the demand data they have collected combined with their intuition and experience from years in the field. This ensures they're executing in a way that makes sense to their operation and their customers.

Demand-Based Pricing gives operators all the functionality they need while eliminating complexity that they don't need.

Currently, RocketRez supports two strategies for pricing rule implementation:

Capacity based batches 

Example: 

• The first 30 tickets sold on a tour are $30. 
• The next 30 tickets are $40. 
• The rest are $50.  

Relative to start time 

Example:

• 30 days before the tour, the price is $30. 
• 10 days before the tour, the price is $40. 
• 24 hours before the tour, the price is $50. 
• 1 hour before the tour, the price is $20.