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Enhance your Hotel Revenue Smartly with ResAvenue's Yield Management Feature
18 January, 2022
Interpreting guest behavior and demand are critically essential to build strategic pricing, arrive at better forecasts, and maximize revenue for your hotel. As a solution to the ever increasing need for revenue growth, Yield Management provides you the precise control of your inventories and makes them available to the right guest, at the right time and for the right price.
Inventory management can be really challenging for hoteliers. To overcome such difficulties, ResAvenue has to offer its Channel Management solution, Channel Connect which supports more than a thousand hotels across the country, in easily managing their online distribution across OTA extranets. This distribution platform also gives them convenience to update rates, restrictions, and availability of their rooms on multiple channels in real-time. Additionally, an exclusive utility feature of Channel Connect is Yield Management which works for hoteliers in planning their room pricing strategy.
Over the years, Yield Management has evolved into a larger concept of Revenue Management, although there is a basic difference between the two. Yield Management is narrowly focused on optimizing hotel room pricing whereas Revenue Management has a broader approach as it covers the other aspects of revenue generation other than hotel rooms for e.g.: income from amenities such as restaurants, spa, etc.
Hoteliers evaluate their customer's sensitivity to pricing and based on that, generate an analysis of demand trends on the basis of which they can maximize Yield. Depending on the type of guests, hoteliers can decide how many rooms need to be allocated to a discount seeking segment such as a family traveler and how many rooms to be allocated to a non-price-sensitive business traveler. As each guest will have a different preference for room rate, Yield Management helps hoteliers to set a price based on the demand and supply situation. It also enables them to perceive how well they are able to meet the requirements of their guests on a daily basis, so that they can adjust traveler pricing options on their booking engine and with OTAs thereby influencing purchase patterns.
ResAvenue's Yield Management feature ensures that your available inventories are occupied in a profitable manner. It does not simply increase room rates for occupancy but also helps you in applying your hotel room pricing strategies in the optimum way to maximize revenue from inventory, based on customer demand.
Strategize your hotel's business earnings through Yield Management solutions and sell more accommodations at optimum pricing.
18 January, 2022
Interpreting guest behavior and demand are critically essential to build strategic pricing, arrive at better forecasts, and maximize revenue for your hotel. As a solution to the ever increasing need for revenue growth, Yield Management provides you the precise control of your inventories and makes them available to the right guest, at the right time and for the right price.
Inventory management can be really challenging for hoteliers. To overcome such difficulties, ResAvenue has to offer its Channel Management solution, Channel Connect which supports more than a thousand hotels across the country, in easily managing their online distribution across OTA extranets. This distribution platform also gives them convenience to update rates, restrictions, and availability of their rooms on multiple channels in real-time. Additionally, an exclusive utility feature of Channel Connect is Yield Management which works for hoteliers in planning their room pricing strategy.
Over the years, Yield Management has evolved into a larger concept of Revenue Management, although there is a basic difference between the two. Yield Management is narrowly focused on optimizing hotel room pricing whereas Revenue Management has a broader approach as it covers the other aspects of revenue generation other than hotel rooms for e.g.: income from amenities such as restaurants, spa, etc.
Hoteliers evaluate their customer's sensitivity to pricing and based on that, generate an analysis of demand trends on the basis of which they can maximize Yield. Depending on the type of guests, hoteliers can decide how many rooms need to be allocated to a discount seeking segment such as a family traveler and how many rooms to be allocated to a non-price-sensitive business traveler. As each guest will have a different preference for room rate, Yield Management helps hoteliers to set a price based on the demand and supply situation. It also enables them to perceive how well they are able to meet the requirements of their guests on a daily basis, so that they can adjust traveler pricing options on their booking engine and with OTAs thereby influencing purchase patterns.
ResAvenue's Yield Management feature ensures that your available inventories are occupied in a profitable manner. It does not simply increase room rates for occupancy but also helps you in applying your hotel room pricing strategies in the optimum way to maximize revenue from inventory, based on customer demand.
Strategize your hotel's business earnings through Yield Management solutions and sell more accommodations at optimum pricing.
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