No vacancies: two words to bring joy to the hearts of hoteliers everywhere. Those same hoteliers know that keeping their hotel fully booked is a lot about juggling room rates.
Simply lowering rates to attract more customers rarely pays off in the long run. The key to achieving more revenue lies in the ability to change rates based on criteria such as occupancy levels and length of stay. Add channel management systems into the equation, and the process gets even more time-consuming, complicated and cumbersome.
Luckily, there’s technology available today to do the work for you automatically, easily and seamlessly. It comes courtesy of roomMaster 2000 from NFS Technology Group. Its users know the software as an exceptionally powerful package that handles reservations, sales ledger, point of sale, commission-free internet bookings and more.
Now, with the integrated Yield Management and booking analysis module, intelligent support is provided to make the right rate decisions, so that hoteliers are no longer reliant on the experience – or lack of experience – of reception staff to make complex pricing decisions.
It automatically alerts staff to the right rate to quote, based on factors such as length of stay or market segment, whilst more meaningful forecasts and recommendations are provided about when to raise or lower rates. Also, in the event of a run on rooms, the module can be set to increase rates on each room as a booking comes in.
As rates are changed at the hotel, they are automatically passed on to channel management systems, which update the prices in channels such as booking.com, laterooms.com, hotels.com and a variety of GDS systems. When prices are changed in the hotel’s roomMaster 2000 software, they automatically change on the hotel’s web booking engine, maintaining rate parity automatically across all channels.
All this and more is covered in roomMaster 2000 Review, the latest newsletter from NFS Technology telling hoteliers how to make best use of their roomMaster 2000 solution.