This type of software automates the process of using analytics (mainly supply and demand) to determine the right rent/room prices to maximize revenue and profitability. This category of software is sometimes referred to as a "yield management system", or "pricing engine".
The primary goal is to sell the right product to the right customer at the right time for the right price via the right channel.
This software ingests historical and market data and recommends a rate for each type of product, specific for each channel with the help of which you are selling
Builds up revenue.
Organizes historical, current and future statistics into accurate reports.
Assists the hotel revenue management team with all-inclusive demand forecasting for more efficient decision-making.
Eliminate errors in pricing.
Provides access to business-critical data – industry trends, booking behavior, etc.
Enables competition research and gives an understanding of the market.