Software guide for revenue managers

The software guide for revenue managers

In this guide, we will dig deeper into hotel revenue management systems (RMS) and how the software can optimize it. Today’s technology can help you, as a revenue manager, increase your hotel’s performance, and this guide will tell you everything worth knowing before investing in the RMS like Atomize . 

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Hotel Revenue Management

In the hospitality industry, Hotel Revenue Management is an important concept, allowing hotel owners & revenue managers to anticipate demand and optimize availability and pricing in order to achieve the best possible bottom-line results. It can be done through Atomize software, which maximizes the revenues.

Trends

Todays markets are very unpredictable. Without relevant precedent data, forecasting is almost impossible. We will experience a growing demand for automation and increased efficiency through supportive Revenue Management Software. 

Revenue Management Software

A Revenue Management Software automates the process of setting the right prices for hotel rooms to maximize revenue and occupancy. The new way of doing Revenue Management is to let a software prepare your decisions by analyzing data for you, thus easing the job of revenue managers. 

A Revenue Management Software will make sure to sell your rooms at the most optimal rate and maximize your revenue without excessive costs. You will save a lot of time and resources by using an automated system, doing the analyzing and price setting for you 24/7.

features

A modern Revenue Management System should be able to support automated price recommendations, competitor intelligence data, price group bookings and provide reporting capabilities among others.

Dynamic Pricing

In hotels the basics of dynamic pricing is quite simple: different hotel room types should be priced dynamically based on supply and demand. 

Keeping an eye on your competition and understanding their strategies and performance can help you get ahead of them. Comp set data is essential to consider in your revenue management tactics for several reasons.

By automatically retrieving and analyzing internal and external data, Atomize’s RMS updates a hotel’s room rates in real-time to take advantage of even the slightest changes in the market or your internal (PMS) data to maximize a property’s revenue.

A simpler and more efficient approach to pricing group booking requests. Group bookings play a large role for many hotels, whether your property focuses on events and conventions or attracts leisure travel groups.

Future demand data

Offers revenue managers the booking and travel intent data that need to be forecast demand even in uncertain times reliably. It will be observing any changes in hotel booking demand and booking intent in your geographical hotel market. Future demand data will keep track of your booking 365 days, rolling 24/7.

Multi Property Support

The Multi-property dashboard gives you a comprehensive overview of your hotel portfolio. It stimulates pro-active pricing decisions and helps identify revenue opportunities and which properties need action first.

Pricing Algoritm

The Atomize pricing algorithm responds based on demand forecasts, pickups vs expected, competitor price drops, the hotel’s occupancy and cancellations pace versus expected and continue to work on finding the optimal price.

Measure hotel success

Learn how to measure your hotel’s success in the best way and what you should think about when measuring RevPAR.

Hotel Revenue Management

A property management system (PMS) is a software platform for managing hotel business operations in front-office capabilities, such as booking reservations, guest check-in/check-out, room assignment, managing room rates, and payments. 

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

“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

Revenue Management System Atomize Customer

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