Automated Revenue Management System

A hotel over crowded with people will hardly generate profit. The main purpose of a successful hospitality business is to generate revenue. In order to obtain that aim, hotels need to adopt advanced revenue management techniques and strategies.  Simply, for more revenue hotels need to understand consumer to sell the product at  an optimal price every day. Therefore, the meaning of hotel revenue management is very simple. It only aims to sell the right room to the right client at the right moment at the right price on the right distribution channel and acquire the best commission possible. Sometimes revenue management is also known as yield management, but you can not interchange these two terms. Hotel Revenue management depend on some interconnected segments which are: Customer segmentation, Demand forecasting, Inventory management, Yield management, Pricing Pricepoint is one of the most reliable revenue management softwares. It is mainly used for independent hotels and ope...

In this article let's explore the most recent trends in hotel revenue management tech and then dive into how to vet a new revenue management system to boost your hotel business's revenue.  What is a Revenue Management System? Revenue management software like Pricepoint helps hotels sell the right product to the right customer at the right price. This software solves variables like price, channel, and timing to maximize profitability. Boost RevPAR with a New RMS There are three main benefits of a revenue management system. With a revenue management system hoteliers can determine how much to charge for a room each day, factoring in real-time supply and demand data. Thus it balances occupancy and ADR (average daily rate), and varies the price point depending on the channel and customer segment.  The Latest Revenue Management Software Innovations These RMS trends in the hospitality industry refers to real time pricing, open pricing, new personalization and automation developments...