Strategies for setting rates and prices for children

Strategies for setting rates and prices for children

What are the main pricing strategies for children? How should I set up my pricing policy in order to simplify work and maximize earnings?

In this article we will talk about the difficulties of some hoteliers in the enigmatic definition of rates and prices for children.

We will reflect on how for some types of structures an accurate and meticulous definition of prices for children can be a source of revenue that should not be underestimated, while for other types of hotels the incidence of younger guests can be seen as a voice of negligible budget.

Family tourism: management of age groups and prices

The first step in setting a correct tariff policy is to outline the age groups of the children. Defining the age groups exactly allows you to segment the price even more scrupulously, so as to have a clearer sales strategy.

Once this is done, it is necessary to understand the ways in which prices can be defined, i.e. whether to apply a fixed price regardless of the prices set for the adult, a percentage discount on the price that the adult would have paid or a fixed discount always compared to the price per adult.

Flexibility and granularity

The type of flexibility and granularity that the management software must make available in order to set prices precisely and as desired by the hotelier.

Fundamental is the ability to set different discounts based on the number of children in a booking.
In addition, the management must give the opportunity to offer different discounts depending on the booked treatment: that is, to be able to set a percentage discount for the half board treatment sold in the double room and a fixed discount for the overnight stay treatment sold in the double room.

Flexibility that must not only be on the management PMS side but also on the booking engine, channel manager and CRM side.

In fact, the booking engine must also allow the potential customer to receive a cost estimate according to his needs, modulating the offer as defined a priori in the PMS.

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