Generate Profits With Automated Revenue Management Systems

Evaluation of prices is a difficult task for it engages opportunities across multiple pricing segments to formulate a new revenue strategy. On the other hand, new projects are always cropping up which include newer revenue targets and strategies built into the takeover. With a smart revenue management system for hotels, these tasks can be schematized in a few clicks!

Automated revenue management systems help save money, time and resources by omitting the need for manual price analysis and tedious research. Such tools identify relevant data from the archives to generate smart forecasts and rates. These can further be distributed across multiple distribution channels instantaneously.

Identification of optimized time frames for renovation is automated in a cloud based revenue management system for hotels. It involves lowest amount of displaced business and does not cast negative impact on guest bases. Such a tool further enables the management to forecast as well as yield reduced supply of rooms for the maximization of revenue during a blocked calendar such as during renovations and off seasons.

Common features include historical room pricing and demand data that is generally unavailable or irrelevant. A strong yield management strategy is important for an EMS (enterprise management system) because it comprises of dozens of markets across multiple segments. When a hotel's system fails to fetch data from properties in a similar segment, automation chips in by manipulating the feed correctly. With this add-on tool, hotels can receive timely upgrades and modify potential segments by executing correct strategies and optimizing prices immediately.

Reputation chatter can be tapped in smart revenue management systems

Guest feedback on social media, online travel agents and review sites can manipulate the pricing decision behind a room rate. After tool implementation, revenue challenges help shift perceptions in the early stages because this is when demand is lower than supply. A smart reputation management software can help a hotel track and analyze guest ratings as well as empower sales and marketing teams with better engagement plans.

Through a cloud-based pricing module powered by a sentiment analysis tool, revenue managers can readily adjust pricing across social media and online review channels. Thereafter, they can tap prospective customer bases and retain existing ones.

By definition, a revenue management system measures systems and processes for guaranteed success. By implementing smart revenue management strategies that are technologically powered, growth is certain for a hotel. The hospitality service provider can not only drive ADR figures up, but also push up revenue numbers through a tactful combination of business decision making and market demand-supply analysis.

In the end, it is the best available rate segment that flourishes and drives revenue for a hotel forward. Hence, a revenue management system helps hotels successfully choose better group business and diminish discounted rates in the near future.

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Five Telltale Signs That You Need Managed Print Solutions

Managed print solutions are a means to control or reduce the costs related to office printing. The cost of office printing is a combination of direct and indirect expenses consisting of hardware acquisition, supplies, service, parts and administrative costs experienced by an organization.

Proper print fleet optimization requires much more than "one size fits all" solution. Managed print solutions deliver a clear benefit; allowing your company to have an optimized document imaging fleet. If you haven't optimized your fleet of office equipment, here are the top five signs that you may need a managed print solution:

Lack of Continuity: Is there a lack continuity in your office? Has your company chosen multiple manufacturers' products without regard to how they will work together? This lack of continuity creates inefficiencies and operating issues. When all the print devices are networked, they can communicate a great amount of information that would otherwise be lost. Add the right software to centrally monitor and manage devices, and you're enabling standardization of the fleet.

Maverick Spending: Impulsive or maverick spending on procurement of print devices leads to over-spending and sub-par equipment selection.

Missing Metrics: Minimal or no tracking of device metrics means you may not know where inefficiencies lie or how to fix them. You cannot control what you cannot see, such as page counts, visibility of over and underutilized devices, page coverage, service reports, alerts and more. With access to the right metrics, organizations can leverage purchasing power for smart, centralized fleet purchases instead of uninformed, individual purchases from various locations.

Lack of Procurement Processes: Where metrics are missing, a company lacks the data needed to apply to fleet purchasing decisions. Without metrics a rational, strategic process will not exist. With proper software-enabled standardization and proper metrics, the company can put in place strategic processes that lead to an optimized fleet.

Incorrect Amortization or Expense Structure: Another reason that a company may fall short of having an optimized document imaging fleet is that devices have already been expensed or procured through a capital expenditure. The truth may be that capital budgets are being stretched with erratic purchases of output technology, reactive supply orders and emergency service calls. Furthermore, your company may not be aware of hidden costs that are hurting your bottom line.

If you can identify with any one of the above signs in your business, exploring a manged print solution would be a worthwhile investment of your time. A discussion with an experienced managed print specialist will help you determine the best course of action and should lead to substantial savings.

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