Your hotel's revenue is down. What software can help you get it back up?

Facing a downturn in hotel revenue, incorporating effective software solutions is crucial for recovery. Implementing a robust revenue management system such as Duetto or IDeaS can optimize pricing strategies based on market demand. Customer relationship management (CRM) tools like Salesforce or HubSpot can assist in personalized marketing efforts to attract and retain guests. Additionally, leveraging hotel management platforms such as Opera or Cloudbeds streamlines operational efficiency and enhances the overall guest experience. By integrating these software solutions, hotels can adapt to market fluctuations, attract more guests, and ultimately work towards restoring and improving their revenue streams.

Large hotels need to build a healthy ecosystem with a set of various systems that serve specific purposes yet are integrated with the Property Management System. A good Revenue management ecosystem would include but not limited to: - Central Reservations System - for inventory management and booking automation. - Channel Manager - for online distribution. - Revenue Management System - for pricing, yielding, forecasting and analytics. - Market Intelligence, Benchmarking & BI tools - Incremental Revenue Systems such as upselling.

top Revenue Management Systems that can be used are 1. Duetto — for hotels looking to leverage open pricing and machine learning. 2. IDeaS — Best for hotels looking to maximize total profitability 3. RoomPriceGenie — for smaller to medium sized 4. Atomize — Perfect for hotels with lean revenue teams = 5. BEONx — Solution designed around going beyond net profit to think about quality and efficiency. 6. Franco Grasso Revenue Team — from hostels to luxury resorts. 7. RateBoard GmbH — = for small and independent hotels & resorts 8. FLYR for Hospitality — Great for hostels and independents looking for advanced data science. 9. Cendyn — large hotels and casinos. 10. LodgIQ — Up and comer built by hoteliers with an impressive client list.

Implementing Revenue Management Software (RMS) is a strategic solution to boost your hotel's revenue. By utilizing advanced analytics, forecasting, and pricing optimization tools, an RMS, such as Ideas ( the one we use at Mama Shelter) or Duetto, empowers hotels to make informed decisions, maximize room revenue, and adapt to market dynamics.

Hotel management software is a comprehensive tool designed to streamline and enhance the operational efficiency of hotels. It integrates various functions such as room booking, billing, inventory management, customer data management, and communication with online travel agencies. This software aids in automating daily tasks, optimizing revenue through dynamic pricing, managing customer relationships, and providing detailed analytics for informed decision-making. By reducing manual workload and offering real-time data, it helps hotels maximize their occupancy and revenue, improving overall business performance.

FreshAir Sensor prevents chargebacks and adds considerable revenue to the bottom line related to smoking revenue (cigarettes and marijuana) which most brands find difficult to charge for and prevent today. Additionally, hotels can charge an add-on fee for health and wellness guests who want to stay in a guestroom with a higher level of indoor air quality. Combined, the affordable, easy to install solution could drive tens to hundreds of thousands of dollars right to the bottom line IN YEAR! I think several software platforms take some time to get going and the revenue takes time to accumulate, if you need to find money today, this is a fantastic product to consider.

Hotel management software boosts revenue by optimizing room pricing, enhancing booking processes, and improving customer experiences. It analyzes market trends and demand to suggest dynamic pricing strategies, ensuring competitive rates. The software streamlines reservations, reducing overbookings and vacancies, and integrates with online booking platforms to expand market reach. It also provides tools for personalized guest experiences, fostering repeat business and positive reviews. Additionally, efficient inventory and staff management reduce operational costs, further increasing profitability.

ANY automations / Third-Party Innovative Softwares For example — Automating Workflows with Sales, Housekeeping or Front Desk Utilizing Softwares to increase guest retention.. For Example — Directful (a incredible start up but IMPACTFUL!) Having a team that has an understanding of the bigger pictures that is innovative is truly what will define you in your market.

Probably Siteminder to optimize your revenue in hotels Improving rate, utilising all market segments adjusting to market dynamics

Absolutely, software acts as a powerful tool, a facilitator that can significantly streamline operations and boost hotel revenue. However, it's crucial to remember that the foundation of revenue recovery lies in a thorough diagnosis of why revenues are falling in the first place. Crafting a targeted commercial strategy for different market segments, channels, and source markets is essential. Only after establishing a solid strategy should software be leveraged to optimize revenue management. While today's SaaS solutions offer cost-effective and efficient tools, remember: strategy leads, technology supports.

I do agree about the RMS importance however, you have to analyze & prioritize 1st what are the most important outcomes you need to have from any RMS Based on my experience, IDeaS is one of the best RMS to: - Increase hotel RevPAR - Enhance Productivity With a very user friendly platform. Recommended 👍

Opera PMS system is one of the best operating system in terms of revenue recording; analysing revenue sources ; reconcilling missed revenues and also analysing useful kpis ARR; occupancy;ADR.

Hotel Management software's improve the revenues by helping the system in a number of ways By Reducing the errors By reducing thefts and pilferages By offering the standardized processes By implementing easy to use solutions By maintaining proper inventories By omitting the human errors By providing the reports to management By highlighting the variances in the reports By providing the possible decision making and hence the list is unending

Today, more than ever, you will be spoiled for options. There is a few easy steps to take before you implement or choose: Assessing your needs (No need = no need) Compare different options Integration with other systems? Then, make a list of your needs: Simplify: Send out the list of your needs. Ask for simple: Y / N (Yes, but = N), Ask for 3 additional items that can add value and why. You do not need to explain yourself at this stage. This is about you and what you want (rightly or wrongly). BS generic marketing answers = you are a number, not a customer. They are pitching for you. Not the other way around. You want a relationship, not a one night stand!.

Le meilleur logiciel de gestion hôtelière est celui dont vous allez utiliser toutes les fonctionnalités. Si vous n'utilisez pas un quart de votre logiciel, c'est soit qu'il n'est pas adapté à votre utilisation, soit que vous avez été mal formé. Cet outil doit répondre à une seule problématique : aider vos équipes à travailler correctement.

Choosing the right hotel management software involves understanding your hotel's needs and budget, researching reputable providers, and comparing their features and pricing. Start by identifying operational challenges and required features, then explore popular software options, focusing on user reviews and their strengths. Request demos and free trials to assess ease of use and integration with your systems. Finally, select the software that best matches your requirements and budget, ensuring it can grow with your business. This strategic approach will help enhance efficiency and guest satisfaction, driving revenue growth. Also a 3rd party specialist like REVZERS could be helpful.

First and foremost a hotel management software will not increase your revenue. Neither will any other tools if your fundamentals are not properly in place. Spend time understanding why and where you lost revenue? Down against what? Maybe you have just gotten lazy and need to up your game again .

It's rare that hotels offer upgrades and upsells and with so many opportunities to subtley offer them, this is a simple piece of tech (coupled with some basic training), that can and will increase revenue when implemented correctly. I would recommend a product like UpsellGuru, one of the only products that takes a 360 degree view of the guest journey and intercepts intelligently at appropriate moments. Ensure you deliver the upsells appropriately to avoid a negative guest experience. I.e. offering the same thing at multiple touch points and becoming a burden to the guest and not of value.

Also, look at an RMS - Revenue Management System. After your PMS and POS, the RMS is the next must-buy. The RMS monitors the market and your comp set for you and will suggest pricing changes. Many good options exist from the big incumbents like Ideas and Duetto, to the innovative challengers like Right Revenue, Pace, Atomize. Also, make sure you have a good CRS / channel manager. Pick one that lets you add the OTA comm to their published room rate, so your direct channel is the obvious best option.

A hotel management software DOES NOT bring up your hotel's revenue; staying guests do! If your revenue is down, focus on your product, service and marketing first.

Completely agree that no software application will increase revenue on its own. The secret (actually, more of a well-known need) is to support your commercial team with the right tech-stack. All Hotels have a PMS and CRS. But many owners are reluctant to add a RMS, BI, CRM and Upsell solutions due to the perceived cost. Your Revenue Manager can surely work 24/7 and optimize rates 3x per day and then manually change them in the PMS. We just have the Front Desk handle the upsells as there are no lines at the desk ever. Night Audit can perform the rate shops and we can track pace in Excel by looking at LY reports and extracting data. As to CRM, we just use a cheap mass-mailing solution to email offers to guests who already have a reservation