What is a Hotel Revenue Management System?
Revenue management software automates the process of using analytics -- mainly supply and demand -- to determine the right price for hotel rooms to maximize revenue and profitability.
This category of software is also referred to as a "yield management system", "pricing engine" or an "RMS". The primary goal is to sell the right product to the right customer at the right time for the right price on the right channel. Revenue management software ingests historical and market data, combines this with forward-looking demand signals and recommends a rate for each segment and room type at your hotel, specific for each channel on which you are selling.
Recently, modern software has moved from on premise to cloud-based applications that are delivered as Software-as-a-Service, meaning multiple users can login to the applications from anywhere they have an Internet connection.
OTA Management Services
Our OTA management services will help you build your online presence across multiple distribution channels and ultimately enhance your hotel revenue. We take complete responsibility for troubleshooting hotel OTA issues and implement best practices according to the latest marketing and distribution trends.
Also, we accurately handle OTA content audits and the implementation of new OTA agreements.
With the constant advancements in digitalization, the majority of people prefer OTA for hotel bookings, vacation bookings, flight reservations, etc.
Budgeting and Forecasting
At RevMate, we believe in enhancing your customer services by handling your budget preparation, forecasting, and sales in an efficient manner. Keeping into account the key variables – average daily rate and occupancy rate, we come up with innovative solutions for forecasting budgets.
We are aware that the target market of the hotel industry, and the local economy are constantly changing.
Hence, we perform thorough research and gather market data before forecasting and preparing a budget for hotels. With several years of expertise in preparing budgets for the hospitality industry, RevMate team will assist you in operating your hotel efficiently and driving profits.
