Historically, revenue management systems (RMS) were viewed as exclusive software that only large properties or hotel groups could afford.
A few hotel groups developed their own proprietary solutions, while others endorsed external, legacy vendors
for their higher revenue-generating hotel tiers.
In recent years, particularly with the development of cloud-based technology, more hotels have decided to invest in revenue optimization tools, however it is still often a property-led initiative.
Currently
less than 5% of all global hotel stock uses revenue technology.
Now, possibly as a result of the pandemic and a need to forecast, predict and price more accurately, more hotel groups have embraced an enterprise-level strategy, partnering with an RMS provider and deploying the solutions at a large scale,
i.e. at a portfolio and/or brand level.
As expected, rolling out an RMS at the enterprise level supports hotel companies with the development of a group-wide revenue strategy to optimize today’s [unconstrained] demand for a future date.
Nevertheless,
the objective is not just about room revenue management: the goal is to elevate commercial performance across multiple customer touchpoints. It’s about total revenue management.
The following report, produced by PhocusWire and
Duetto
, is a comprehensive guide to RMS technology and its effective deployment.
The report is available below or to
download here
.