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What Revenue Management Software features should I look for?

There are certain Revenue Management Software features you can consider to be hygiene factors, that you can expect from any decent Revenue Management System on the market. Things like a cloud-based solution and a mobile friendly interface is a must for any Revenue Manager in todays hotel landscape. 

Furthermore, there are certain, more unique revenue management software features that truly can make a difference.  A so called "Next-generation" Revenue Management System is based on machine learning and AI, as it is built on self-learning algorithms and becomes more precise over time. A system like this should also support automated price recommendations, real-time pricing ,competitor intelligence data, price group bookings and reporting capabilities, amongst others.

 

Features and functionalities to look for 

Automated recommendations

With the push of a button, your price recommendations will instantly be updated in your PMS. Neither analysis nor manual updates are required. Choose between accepting your recommendations one-by-one, in bulk or even override specific recommendations with ease.

Comp set data

Using your own data to determine your pricing strategy is a great place to start since every hotel is unique and deserves a tailored approach. However, if you want to succeed in a real-time and dynamic market where properties compete fiercely for guests, it’s important to also consider competitor intelligence data in your pricing management.

 

Search data from web booking engine

Data from your web booking engine, such as unique searches and non-booking that typically reveal clue on future demand.

 

Autopilot

If you wish, you have the possibility to set the system on autopilot. Price recommendations will automatically be pushed to your PMS without spending time reviewing them.

The Autopilot functionality is included in Atomize Professional Package.

 

Group booking pricing module

Since groups often request proposals from multiple hotels, having a tool like this can set you apart from the competition. Not only will you be able to offer a competitive rate in line with the market, but you’ll also send it out before your competitors have even had the time to do their first round of calculations.

On top of that, you’ll know which price will bring you the highest revenue and profit for your hotel, so you can make data-driven decisions on which business to accept in the blink of an eye. Learn more about Atomize Group booking pricing module. The Group Pricing Module is included in Atomize Professional Package.

Reporting capabilities

Make sure to keep track of how you are doing with endless reporting capabilities. Atomize Professional Package includes the Revenue Insight reporting solution, provided by OTA Insight.

Make better, faster decisions with dynamic hotel PMS analytics.  Revenue Insight is the business intelligence platform that unlocks the potential of your PMS data, delivering lightning-fast, actionable insights so you can confidently make better revenue decisions. Compare actuals and on-the-books against previous time periods and targets, track booking windows, pick-up trends to analyze your revenue KPIs.

Real time price optimization 

Using real-time prices ensures you’re always a step ahead of your competition when it comes to securing market share and maximizing rates during high-demand periods. No matter how fast your competitors update their rates, using real-time pricing optimization will keep you right in line with the market. It won’t surprise you that this highly dynamic pricing strategy will have a strong positive impact on your bottom line.

Real-time price optimization is included in Atomize Professional Package.

Revenue Management System Atomize Customer

“Atomize has proven themselves to be able to output price recommendations that we highly trust. ”

We are very impressed with what Atomize offers in terms of technical competence, agility, responsiveness, and overall delivery.

Johan Forsberg, Revenue Director, Gothia Towers

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