Hotel Revenue Management Software: An Overview

Do you want to understand and analyze guest behaviour and booking patterns?

You need to have a good understanding of the strategy and implementation with the goal of attracting more bookings at the right price at the right time.

Hotel revenue management refers to an entire process of optimizing how your hotel appears on OTAs and opening new booking streams for the property. This is a dynamic pricing strategy that ensures ideal yield. 

• Advantages of hotel revenue management:

• Easy forecast on booking trends

• Implementation of proactive pricing strategies

• Better visibility across distribution channels

• Experience new revenue opportunities

• Develop and compare forecasts vs revenue reports

• Ways to be attentive to the guest experience

• There's no need to hire an in-house revenue manager

With this, you can analyze the historical data of revenue managers and book patterns during the day of the week, events, festivals and guest behaviour. Thus it becomes easy for you to forecast booking trends for the next year for your property. This way, you can prepare for the seasonal changes beforehand and there's no need to deal with the hassle of getting bookings till the last minute.

When it comes to the best hotel revenue management solutions, you can count on Pricepoint. This is A fully automated revenue management software that helps you get an analysis of a property's performance 24/7 and push back optimal prices to OTAs, such as Booking.com or AirBnB.