What is the Requirement of an Automated Hotel Revenue Management System?

When the discussion is on the hospitality industry, revenue management can be a tricky affair. But an automated hotel revenue management system can ease the process for the hoteliers. Now let us try to understand what is this management system, how it works, and what the benefits are.




What is an automated hotel revenue management system?


This revenue management system analyses the available data sets and uses the results to understand customer demands and accordingly works on the process of pricing and inventory optimization. This system helps the businessmen in the hospitality industry and hoteliers to maximize the bottom and calculate what should be the ideal hotel rent of a room. This helps in aligning the right distribution channels and maximizing revenue. Machine learning and artificial intelligence have a key role in the smooth functioning of these software. 


Benefits of an automated hotel revenue management system


Following are the benefits of incorporating such a revenue management system in your hotel:



  1. Conducts better analysis & gives better price recommendations: This software collects past information about hotel rooms, and the rates and revenue and then analyses this data. Based on the requirement of the customers, it sends pricing recommendations. 


  1. Time-saving and cost-effective: This is already a lot of data available in the hotel industry and managing it manually is not possible. When this system of revenue management is automated, it not only saves time but also eliminates errors. Also, the use of this system is comparatively cheaper than hiring a revenue manager for the same task. 

  2. Helps in forecasting demand: Since the software has access to current and past data, it can easily predict the rise and fall of customer demands. This way, hoteliers can set effective room rates and maximize their profit.

Get ahead of the competition with Pricepoint


Over the years, Pricepoint has served independent hostels and hotels with a cutting-edge and technology-driven pricing engine. The aim is to provide revenue management services to hotels and airlines. This AI-driven and automated solution can analyze property performance and helps you in increasing your revenue with dynamic pricing. Visit the website to know more. 





Location: 4530 Av. de Melrose, Montréal, QC H4A 2S9, Canada

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