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Revenue Management Systems for Hotels: Products and Features

Altexsoft

A solid revenue management system (RMS) serves as a trusted steering wheel, guiding in the right direction and making that journey smoother. 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?

Hotels 52
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RevPAR: A Vital Hotel KPI And Strategies To Improve It

Altexsoft

Revenue Per Available Room, or RevPAR, has emerged as a crucial key performance indicator (KPI) for assessing a hotel’s financial well-being and prosperity. This significant metric enables hotel owners to evaluate their property’s performance by considering both occupancy rates and average daily rates (ADR).

Hotels 59
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RevPAR, Occupancy Rate, ADR, and Other Hotel Metrics: How to Evaluate Your Property’s Performance

Altexsoft

In other words, a certain number of metrics and KPIs has to be set up, monitored, and analyzed to be turned into valuable insights. So, the aim of this article is to describe the main KPIs typically adopted by hotels to support their business analysis. Occupancy rate, ADR, and ALOS: basic operational metrics. Occupancy rate.

Hotels 64
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Open Pricing Strategy for Hotel Revenue Management: Concept, Advantages, Tools, and Implementation Steps

Altexsoft

As a hotel revenue manager, one of your key responsibilities is creating a pricing strategy tailored to the property and its market. Many hotels still rely on a fixed pricing strategy that uses a tiered pricing system based on room types. You can check out our video about revenue management before starting to read this post.

Hotels 52
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Hotel Concierge Software: Modules and Integrations

Altexsoft

Today, a hotel concierge is the person whose job is to assist the guest with any request or problem — be it arranging a manicure, an urgent dry cleaning, or a pet walk. So, let’s explore the opportunities to improve customer satisfaction and other benefits concierge software can bring to your hotel. What is a virtual concierge?

Hotels 64
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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. Hotels, much like retailers, want to know how large or small the demand will be. Not exactly. Demand forecasting.

Hotels 59
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Vendease, a food procurement platform for African restaurants, nabs $30M led by Partech Africa and TLcom

TechCrunch

to help hotels and restaurants buy food supplies in Africa. According to the company, most customers, including restaurants and food businesses, hospitals, hotels and schools, are subject to $100 billion in annual losses due to several factors. Vendease gets $3.2M Vendease founders. Image Credits: Vendease.

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