HEDNA Attribute Based Pricing Webinar Jul2020
Imagine going into a pizza parlor that only offered cheese or supreme pies. If you want anything in between, you had to pay the more expensive price for the supreme and pick off what you didn’t want or go basic with the cheese even if you would have spent more if that option were available.This outdated concept is how hotel rooms are distributed and sold today. Enter the Attribute Model (AM). As a modern concept, AM redefines the traditional hotel product (rate plan + room type) and instead puts the consumer in control of choosing what they desire most and are willing to pay for. It also empowers the hotel and their revenue management strategy by pricing the attributes that make up the physical rooms and not the entire room alone. Behind the scenes, the hotel has flexibility in assigning rooms not based on a predetermined room type with a set (and limited) inventory count but instead assigned based on the attributes the consumer has designated and purchased.The Connectivity Attribute Model Webinar will provide a high-level overview of the basic concept of the AM, current landscape of adoption, and how hotels are applying AM to hospitality.In this webinar you will learn:The concept of Attribute Model, Attribute Shopping, and Attribute PricingKey considerationsWhat you can do right nowScott LoRusso – Director of Product Management at InterContinental Hotels GroupKlaus Kohlmayr – Chief Evangelist at IDeaSHEDNA (Hotel Electronic Distribution Network Association) is a not-for-profit trade association whose worldwide membership includes executives and managers from the most influential companies in the hospitality industry. Founded in 1991, HEDNA's mission is to be the leading global forum for advancing hospitality distribution through collaboration and knowledge sharing. Its vision calls for HEDNA to be known for creating an environment that fosters strategic collaboration toward business development in the global hospitality industry. For more, visit www.HEDNA.org.