Why Do You Need a Revenue Management System?
Revenue Management Systems (RMS) are software built to assist with Revenue Management. They allow revenue managers to leverage hotel room supply and real-time market data to increase profits and strengthen competitive advantage. Advanced algorithms will highlight trends and recommends optimal room rates to assist daily yield management updates and general revenue management strategy.
These days, most modern Property Management Systems and Channel Managers can directly integrate with Revenue Management Systems to automatically update prices in real time. You can also choose from dedicated RMS for small, medium, and independent properties.
How to Get Started with a Revenue Management System?
Getting started with a Revenue Management System seems comprehensive. But with the right help, you can easily compare multiple options available in the market. It is necessary to build a roadmap for the next few months, consider various features, and choose a comprehensive RMS to manage revenue operations at your property. Here is how to choose a good RMS for your business.
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Revenue Management Systems
Start with a Consultation with a HotelMinder Expert
HotelMinder has a global team of experts working in the hospitality industry for many years. Our combined experience in operations, sales, marketing, and technology helps us guide our partners to the best tools and solutions available to increase revenue. We take a comprehensive approach to deliver on our promises, and offer multiple solutions, depending on partner budget, requirements, objectives, and goals.
Tailored Hotel Management — our affordable and comprehensive tailored management service is designed for small and medium sized independent hotels and hotel chains to help them achieve defined objectives.
Planning & Implementation — we help you set up the right objectives, define needs, upgrade your existing technology solutions, start marketing campaigns, give insights on current industry trends, conduct audits of your property's technology and operational status, and provide a comprehensive roadmap to achieve goals.
Partial or Targeted Hotel Improvement Plan — our Hotel Improvement Plans offer a holistic view of your hotel marketing, operations, strategy, and technology. Assessed by industry experts, our audits help you get strategic data of business KPIs, tailored to your specific requirements.
1-to-1 Expert Session — indulge in a consulting session with experienced hospitality consultants, including HotelMinder's Co-founders. The rich expertise and a talented pool of industry veterans can help you start a new project, choose an application or service, solve a problem, or get insights on marketing, revenue, operations, and technology.
When you get started with HotelMinder, we guide you to the right path, manage the project, tailored to the category of services you require. With a detailed Planning & Implementation phase, we make sure all your expectations our met in the most efficient and timely manner.