What is the definition of Early Bird Discount in the hotel industry?
Hotels can rise advanced bookings by donating something called an Early Bird Discount. This is a type of promotion that many hotels across the world practice to upsurge revenue.
It is also prevalent with consumers, who always like to get a distinct rate when booking rooms or taking benefit of other in-house amenities at hotels large and small.
It is significant for a hotel revenue management team to harshly control Early Bird Discount promotions, however, to make sure that only the guests who certainly succeed for the special rate accept it. One way to do this is to offer an Early Bird Discount as a non-refundable amount.
Generally you can only have the special rate under Early Bird Discount if your chief time from the reservation until your actual arrival at the hotel is from 1 week to a month apart.
Early-bird offers are good ideas particularly when you have a product or service that is periodic in nature, you can often upsurge profits during the slow time by offering reduced rates for a restricted time period.