Continuing our look at What’s New in Hotel Revenue Management Systems, this time we cover two more stars on the software horizon, both traditional and cloud-based. Whatever your management style, there’s a software package that fits it perfectly. Even when you feel like changing things up a bit, these software systems help you keep from running off track in your quest to maximize your bottom line.
Here are a few hotel revenue management systems creating a buzz right now:
i-Rates is starting a revolution aimed at increasing your hotel’s bottom line. This innovative hotel revenue management system is based on what developers call “reinforcement learning.”
It’s almost like you have an intelligent being learning your hotel facility, your management style, and your customers to make sure every one of your rooms is competitively priced 365 days a year. You can adjust the degree of automation to allow for maximum flexibility, plus you can input your own data, which the system will then take into account for this and future dates. Any room rate changes are automatically transmitted to all hotel global distribution channels.
Another hotel revenue management system on the cutting edge, Duetto saves your hotel from the dreaded “room rate slide” that happens all too often when managers figure that simply offering cheaper rooms will draw more customers. Duetto helps protect your brand and your bottom line by keeping your focus squarely where it belongs – your target customers.
Using algorithms based on past history, the software quickly gives an accurate picture of future demand, allowing you to keep your target customers filling rooms during peak-demand periods while attracting new customers with special (but not artificially low) pricing during off-peak periods.
Unlike some other hotel revenue management software programs, it’s cloud-based so there’s nothing to download, upgrades are automatic and free, and the monthly fee you pay is often earned back in the form of a healthier bottom line.
Some of its productivity-enhancing features include block allocation management, event tracking, reporting of competitors’ rates, and web shopping data.