Pricing for leisure and luxury involves a decision process filled with uncertainty. It is no wonder that most Revenue Managers count on their “market intuition” or a cursory evaluation of competitor’s prices or year-over-year performance to establish pricing tactics.
Dynamic pricing is the practice of using live data, probability theory, and the mathematics of optimization to tie your pricing schemes to all relevant market mechanisms that drive total demand and maximum profit.
OWL can unravel and model the intense mathematical processes involved in choosing the “best price”. Whether you are setting admission fees for your next conference, ticket prices for opening day, or 365 days of rates for a chain of resorts.