What is revenue management?
Originally known as yield management and developed in the airline industry in the wake of deregulation in the late 1970s, revenue management controlled the price of seats. Although the focus was on opening and closing fare classes, the net effect was price changes, and as the discipline has evolved the line between revenue management and operational pricing has blurred.
How can an automated Revenue Management system help optimize profitability?
Hospitality revenue management systems provide management with information to help make accurate business decisions, which could critically improve profit margins and cash flow.
What is unique about the pricing techniques developed by REVPAR GURU™ ?
Revenue management techniques are frequently associated with high volume, computer-automated transactions such as those found in the travel industry, where millions of forecasts and price changes occur severals time daily. REVPAR GURU™ sets hotels room rates in Real-time to achieve your highest occupancy at the best possible price per room. The results for you: Maximized hotel RevPAR and occupancy, providing unbeatable hotel profits.
Is REVPAR GURU™ a Channel Manager?
REVPAR GURU™ is much more than a channel Manager. It is the only bundled integrated Revenue Generator software providing Channel Management, Revenue Yield Management, Rates Optimization, Competitive Pricing Engine, Page Positioning Optimization, GDS Distribution, and Inventory Control, ALL SYNCHRONIZED IN REAL-TIME.
Why is REVPAR GURU™ so different from other RMS?
In comparing RMS there are fundamental differences that sets REVPAR GURU™ apart: the primary focus of pricing recommendations used by other systems are mainly based on Historical and Pricing is set without even considering the competition. We find that these principles are not accurate anymore especially when hotel prices are completely transparent online. How can one use last year’s historical prices in order to determine this year prices? Please
What about Rate parity?
REVPAR GURU™ thrives to provide rate parity. Our system updates in real time all distribution channels including hotel’s own website, GDS and all OTAs. All rates are in parity on all the various websites as it is a requirement from all OTAs. When pricing changes, rates are simultaneously changed on all the channels so that all OTAs have the same rates.
What can REVPAR GURU™ do to handle the shrinking booking window?
Indeed the last three days of the booking window is paramount: if revenue managers under-price they get over bookings, if they over-price they get no bookings.
Is the system about discounting?
Absolutely not, REVPAR GURU™ is an adaptive system that reacts to all market conditions and consumer behaviors. This is a progressive system designed to increase RevPAR.
Will the system lower my hotel rates?
This decision is totally up to our customers to decide what should be the lowest rate. We make recommendations based on competitive data but each hotel decides what pricing zone is more comfortable to them. Our systems are fully compatible to use all opaque channels to preserve rate integrity when it is necessary to discount during challenging periods.
Can I copy the software and use it with my other hotels?
No, it is not possible because this is a software solution totally customized for each hotel so it cannot be duplicated.
How long will it take to install and set up the software for my hotel?
Because we are installing our solution at hotels and resorts across the globe, we require 4-6 weeks. We can offer expedited delivery for premium packages. Please contact your customer representative for pricing details.
What if our hotel requires specific programming?
It is very possible to tailor program our software to respond to specific needs dictated by corporate requirements.
Will this system replace revenue managers?
Not at all, this system was developed by revenue managers for revenue managers. The automation requires human intelligence for setup and maintenance and constant fine tuning to obtain optimal performance. Revenue managers are free from tedious daily tasks so they can fully use their online expertise to concentrate on strategic revenue management.