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Revenue Management Systems for Hotels: Products and Features

Altexsoft

With the right RMS in place, hotels and vacation rentals can optimize room pricing, enhance occupancy rates, and boost overall revenue. What is a revenue management system for hotels? Learn more about hotel revenue management in our video. Revenue management software for hotels is generally flexible.

Hotels 52
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Hotel Rate Shopping: Using Rate Intelligence for Revenue Management

Altexsoft

But does it mean that hotels must get used to living in the OTAs’ shadow and be content with monstrous fees and rate parity rules? Let’s talk about the many opportunities that rate shopping might bring for a hotel. Dynamic pricing engines can be based on rules or on machine learning. Not exactly. Demand forecasting.

Hotels 59
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Average Daily Rate: The Role of ADR in Hospitality Revenue Management and Strategies to Improve This KPI

Altexsoft

The Average Daily Rate (ADR) — one of the leading hotel KPIs for gauging performance and profit — has gained considerable importance, and for a reason. We also investigate predicting ADR through machine learning and strategies to enhance this KPI. Example 1: Small boutique hotel. What is ADR?

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Short-Term and Vacation Rental Data: Sources and Analysis

Altexsoft

This term refers to hotel alternatives that can be booked for several days or weeks (hence, the second name — short-term rentals.) Vacation rentals usually offer guests more attractive prices than hotels along with a more private setting. Yet, the most complete information possible accumulates inside your own vacation rental software.

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Functional Prototype: How to Iterate with your Software Product

Altexsoft

Prototyping is an essential part of any production, whether you’re developing hardware or software. It can be even coded and designed to some extent, like our x-ray analysis tool. It can be a presentation or a diagram, but in some cases, it can also be coded. “If it can’t be made here, it can’t be made.”. Priority Designs.

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Occupancy Rate Prediction: Building an ML Module to Analyze One of the Main Hospitality KPIs

Altexsoft

The occupancy rate is a key indicator of the historical, current, and looking-forward performance of a hotel or vacation rental business. Stakeholders — from property owners to managers to housekeeping staff — use this metric to make informed decisions and increase revenue per room or property. After all, it’s not 100 percent.

Hotels 52
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Vacation Rental Revenue Management: Dynamic Pricing Tools by Beyond, PriceLabs, Airbnb, Vrbo, and More

Altexsoft

From sharing a corner in your living room with an air mattress to running a whole hotel-like operation with multiple properties, alternative accommodation hosts today can make bank. Hotels want to be like Airbnbs, investing in unique, homey properties where people come to live, rest, and work. Hotels and vacation rentals, compared.

Hotels 52