Boost Your Hotels' Revenues Considerably with ResAvenue's Yield Management Feature

11 May, 2016

The term 'Yield Management' has woven its way into the modern lexicon after the successful implementation of its principles by various businesses over the past few decades. It can be defined as a variable pricing strategy that is based on anticipating and influencing consumer behaviour to gain maximum revenue or profits from a fixed, perishable resource, such as your hotel inventory. Simply put, Yield Management is "selling a product or service to the right customer, at the right time, and at the right price."

Yield Management is now considered absolutely essential in the hospitality industry as it helps hotel owners to maximise their revenues through strategic planning and concerted management of their inventory and rates. In a bid to boost the earning potential of its partner hotels, ResAvenue now provides a topnotch Yield Management tool that helps hoteliers derive maximum yield from their available inventory on various distribution channels.

We have specially incorporated this much sought after functionality in our Advanced Channel Connect offering, empowering you to have full strategic control of your available resources on multiple extranets of OTAs as well as the ResAvenue booking engine. Hoteliers can set in advance incremental or decremental pricing for different rooms over a specified date range for various slabs of allocation levels. The yield amounts for the different allocation slabs could be a flat or percentage increment/decrement on your regular rack rates for these rooms.

This method is ideal for seasonal pricing, selling slow-moving inventory or anticipating significant spikes or drops in demand. You can employ yield management for various other scenarios to make the most of opportunities that come your way.

Let's assume that a large MNC selects your hotel to host a business conference and you wish to offer a special room rate for registered attendees at this particular conference. Those attendees booking extra nights outside the specified dates of the conference dates would be charged the regular room rate for those nights. Our Yield Management solution would be perfect for this task. Just make your selections and provide the yield amount/percentage using our intuitive interface, and you're done!!

Use your knowledge and experience to devise optimal pricing strategies with our advanced yield management solution. Sell more rooms at the optimal rate, every day.