Adjusting for Inflation: Should You Raise Your Room Prices? with Glen Boultwood from Serene Capital

Adjusting for Inflation: Should You Raise Your Room Prices? with Glen Boultwood from Serene Capital Don’t Forget to Subscribe! Inflation is here and it is impacting us all! Inflation rates have grown faster than anyone would have predicted and there is no sign of significant abatement. With bottlenecked supply chains, record demand, and plummeting asset prices, prices for goods and services are steadily rising, and that includes the cost of running your accommodation. But how should this affect your pricing? Where do we go from here? To take a closer look at this supply, demand, and inflation equation, we have on the hot seat Glen Boultwood, CEO & Co-Founder of Serene Capital. Glen and I take a deep dive into how inflation is impacting travel demand and how accommodation owners can keep up. 📋 Chapters! 00:00 Adjusting for Inflation: Should You Raise Your Room Prices? 01:25 Intro and background to Glen Boultwood and his business. 06:27 What are the artificial barriers that are impacting the way we price our hotel room rates? 08:47 What we can do to understand the room supply and demand equation? 10:29 What data is the most relevant when pricing your rooms? 14:21 What to do when your competitors are reducing their room rates? 16:45 How can you be confident in your pricing strategy? 17:28 How to test how much you can increase the price of your rooms. 20:43 How to bridge the gap between the data that we have internally and what's happening in the marketplace and align it to find the right inflection point. 21:25 After how long can you tell whether your pricing is shifting people to your competitor? 27:01 How do you determine the inflection point? 30:24 How do we deal with pricing in a high inflationary environment? 31:22 What have been the primary drivers of higher inflation over the past year? 36:54 Who the ‘winners’ and ‘losers’ are in an inflationary system? Show Links https://www.serenecapital.com.au https://www.linkedin.com/company/3792456 #serenecapital #inflation #bookdirect ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 🥊Need more direct bookings or a brand new website? Book an appointment! We get results! https://www.ibooked.online 🥊 ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Don't forget to hit that subscribe button! This also keeps us going and creating more useful content for free! ACCOMMODATION OWNERS AND MANAGERS FREE RESOURCES! 📧Join the mailing list for freebies and critical industry updates: https://bit.ly/accommodationtipsandtricks 🌍The Accommodation Owners and Managers Facebook Group: https://bit.ly/AMoFacebookCommunity 🗨 Connect with Bart Sobies: https://www.ibooked.online/bart/ 🎙 Subscribe to the podcast to listen later: https://www.theaccommodationshow.com ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Disclaimer: *All content on this YouTube channel, Podcast or post reflects my own and guests opinions and should NOT be taken as legal advice, financial advice or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links. Affiliate Disclaimer: This blog, podcast & youtube channel; will occasionally contain affiliate links, which means I receive a small commission on a purchase without additional cost to you, if you buy something through my links. The purpose of this show is to educate viewers and share everything I know about improving your accommodation, STR and AirBNB business. I do believe in the products and services that we link to and that you may benefit from them. If you do purchase through my affiliate links; I want to thank you for your support.