Hotel Management Articles
Automated Revenue Management Will Improve Efficiency
When organic hotel sales start to go down, hotel revenue management takes on a new level of importance. This is because it becomes critical for hotels to go after the remaining market. The marketing department will also experience the same problems and opportunities. To reduce redundancies, the two can be meshed together.
Avoiding Redundancies
Implementing technologies such as the RevPAR Guru can help boost efficiency greatly. This solution can provide automated forecasting not only for North American properties but for properties anywhere in the world. A significant number of man-hours can be saved. And the best part is, the result of the system will increase RevPAR and manifest itself to profit optimization.
More than using technology though, there should also be cooperation between the hotels sales & marketing department and revenue management. By working together, hotel managers can identify areas for promotions and what the optimal hotel rate should be.
In the previous articles, we have discussed the tension between the two groups. For example, the misconception of hotel managers that sales are only interested in profits. This type of thinking should be eliminated for any type of effective cooperation to take place.
RevPAR Guru as a Tool
Before RevPAR Guru has been introduced, hotel revenue managers simply used Excel to calculate the appropriate rate. This is time-consuming and typically inaccurate. But there is no need to say with this old style. By using algorithm processes to process data, the software is able to project how much the hotel can expect from its transient sales.
However, thinking that any software application can replace the touch of an employee is quite misguided. It should be seen as a tool rather than the ultimate solution. For example, it is not a substitute for hotel revenue managers. Some tasks that are related to hotel management are things that only a human being with actual experience and rational thinking can solve.
With this in mind, it is even more important to respect the capabilities of hotel revenue managers. It is true that technology today is incredibly advanced. Booking software, inventory software, and revenue management software are impressive. Without a human to feed and interpret data though, software applications can do just the opposite of what they were designed to do.
About the Author
REVPAR GURU is a strategic Sales and Revenue management solution that prices and sells hotels automatically, 24 hours a day, 7 days a week, and in real time. It reacts to the constantly changing market environment and delivers an unbeatable solution that is designed to maximize the occupancy and optimize the pricing.
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