Knowing what is going on in your city is vital for your success. You need to be up to date in regard to special events. Accordingly, you need to have a calendar where you insert all of the events within a year and if possible beyond. In this calendar you insert events of trade fairs, festivals, marathon events, celebrity shows, pre-openings of buildings and restaurants, well-known parties, open Sundays, bicycle events, soccer games, and everything else that lures masses of people to your city.

As soon as you have your calendar ready, it is time to adjust your room rates. Go through your channel manager (if you use one) and match your prices to the high demand that will appear during that time. Whilst you change your prices, you should have a look at your competitors’ prices as well. Go to a well-known online travel agency platform and insert the dates that you want to make changes for. Have a look at all the prices that are offered during that time. Afterwards, make up your mind and figure out the right prices for your rooms per night.

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An informative calendar is a precious tool for an accommodation business. It is essential to make concrete predictions and it supports you in planning ahead. For instance, if someone calls you and asks for a price for a specific date, you just have to look at your calendar and you know if the prices are higher than usual or not. Quickly, without opening your PMS or any extranet, you more or less know the exact price.

Not having a well-organized calendar is fatal for a well-established accommodation business. It can be fatal due to the various opportunities to increase your room rates that you would be missing. You would leave a lot of money on the table just because you did not prepare yourself well enough.

Having an overview of your business in the long run will definitely make a major difference to your success.