Release is a condition that can be applied to the rate table and is essential to consider when working with more than one rate.
It is even more critical when the strategy is to improve the average daily rate (ADR).
However, it is still very much forgotten by some hotel unit managers.
Let's go to the beginning. When creating your rate table, you should consider if you will opt for one or more rates - refundable, non-refundable, or early bird.
After defining each of these rates and their characteristics, you must specify the release of each of them, i.e. when they are or do not become unavailable.
For example, when working with a flexible and non-refundable rate, there must be a release period on the non-refundable rate.
So when the flexible rate becomes non-refundable (X days before the check-in date), the non-refundable rate, which is at a lower price, is no longer visible.
With this change, you are not left for the same period, with two rates with the same cancellation condition but different prices, giving the customer only one option, the one with the higher price.
This is also applicable when we talk about early-bird rates, for example, where a discount is applied for those who book earlier. However, we want this fare to no longer be visible X days/months before the arrival date when we want to sell at the standard price.
What are the main benefits?
The main benefits are making the booking process more straightforward and intuitive for the end customer, not selling at lower prices and gradually increasing your average price and, therefore, your profit.
Have you checked your rate table? Have you applied releases? Contact us if you need help, and we will analyse your pricing strategy together.