Working with Predictive Analytics

Revenue Management Systems give you greater control over your revenue potential by taking a number of variable factors into consideration, such as competition pricing, available rooms, current pricing, in an attempt to drive up your revenue.

Most providers in the market will need connectivity to your Property Management System (PMS), which can be challenging since not all hotels use the same systems. New connections may need to be developed and thoroughly tested to ensure they work correctly, which can be time consuming and costly.

A relatively new concept for most hoteliers is the idea of ‘Predictive Analytics’ which is very powerful, however it does have its challenges! The idea is that the revenue management system will take your current availability, current pricing, current competitor pricing into account, and then offer optimized pricing suggestions. Continue reading →

Property Management System (PMS).

A Property Management System (PMS) is a critical application for properties of various types and sizes. It is a central control system for your hotel. Some important features include, availability/ room type management, reservations, guest history tracking, sales and statistics, points of sales, back office inventory, guest spending in house, financials, staff and much more.

Every aspect of your hotel is handled by a single integrated system to make your property management more efficient, giving you the opportunity to focus on improving guest experiences, without the worry of tracking the various aspects of your business. Continue reading →