RoomPriceGenie Archives - Page 2 of 2

Hotel RMS Evolution: From Ledgers to Spreadsheets to Cloud-Based Systems

Revfine.com2023-11-21T16:08:32+01:00

While the evolution of all hotel operational technologies has been a fascinating study, the evolution of hotel revenue management systems (RMS) has been particularly interesting, as it has gone through so many distinct and completely different phrases in a relatively short time (approximately the last ten years). RMS Transformation - From Ledgers to AI Cloud Systems Through this evolution, revenue

Hotel RMS Evolution: From Ledgers to Spreadsheets to Cloud-Based SystemsRevfine.com2023-11-21T16:08:32+01:00

Tips for Choosing a Revenue Management System for Your Hotel

Revfine.com2023-12-20T16:45:49+01:00

Revenue management systems (RMS) are a new way of working for the vast majority of hotels – in fact, for most, this kind of software was not even an option before. But times are changing. Property management systems (PMS) are becoming more user-friendly, and such systems can help you simplify your life, save you time, and result in more revenue.

Tips for Choosing a Revenue Management System for Your HotelRevfine.com2023-12-20T16:45:49+01:00

Mythbusters: Revenue Management Technology

Revfine.com2023-12-20T16:49:35+01:00

Do you run a smaller hotel or B&B that uses only manual processes to manage all your reservations, pricing, and inventory allocation? Have you avoided implementing technology to help support your internal operations because you worried that the solutions would cause more problems than they would solve? If so, then this article is for you! This article focuses specifically on

Mythbusters: Revenue Management TechnologyRevfine.com2023-12-20T16:49:35+01:00

Pricing Your Rooms in 2022 – Getting The Best Results in Times of Uncertainty

Revfine.com2023-12-06T15:50:45+01:00

Cast your minds back to midnight on new years eve. You probably weren’t thinking about your room pricing. But if you had been, would you have felt confident about how demand will play out this year? How much would you bet on being right? If you are in charge of setting prices for a hotel, then a lot of money

Pricing Your Rooms in 2022 – Getting The Best Results in Times of UncertaintyRevfine.com2023-12-06T15:50:45+01:00

Do Small Hotels Need a RMS? How to Overcome the 6 Challenges?

Revfine.com2023-12-20T17:01:13+01:00

As a hotelier, you have a lot on your plate. From taking care of your staff and guests to managing your online presence, bills and housekeeping - it’s no easy task. But even so, it is imperative you do not overlook one of the most important things to manage: your hotel revenue. In this article, you will learn what the

Do Small Hotels Need a RMS? How to Overcome the 6 Challenges?Revfine.com2023-12-20T17:01:13+01:00

How High and Low Can You Go With Your Hotel Room Pricing?

Revfine.com2023-12-06T17:03:29+01:00

Behavioural economics is the study of people’s decision-making processes and how they are not always entirely rational. By understanding people’s reactions to the choices available, you are better able to make pricing strategies that maximise your revenue. For example, evidence dictates that ending your prices with the number ‘9’ increases your revenue. If you charge $119, you should see more

How High and Low Can You Go With Your Hotel Room Pricing?Revfine.com2023-12-06T17:03:29+01:00

Quantifying the Benefit of Using Revenue Management Software

Revfine.com2023-12-06T17:59:01+01:00

When potential clients reach out to Revenue Management Software (RMS) companies, they often have the same question: “How much extra revenue will I make?”. To which the only honest answer is “We don’t know, exactly”. You may come across companies promising 30% or 50% more than you are receiving now. But, in reality, it depends on so many factors; for

Quantifying the Benefit of Using Revenue Management SoftwareRevfine.com2023-12-06T17:59:01+01:00

Basics of Revenue Management for Smaller Hotels

Revfine.com2023-12-06T17:59:42+01:00

Revenue management stands for “Selling the right product to the right client at the right moment at the right price via the right distribution channel with the best cost efficiency”. But what does revenue management really mean for the extraordinary hotelier? What should you take care of in order to increase the revenue for your property? Basics of Revenue Management

Basics of Revenue Management for Smaller HotelsRevfine.com2023-12-06T17:59:42+01:00