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How to capture more revenue with automated pricing

This guide – written explicitly for the independent hotelier – will explain the concept, strategies and benefits of automated hotel pricing. We’ll show you why automated pricing is the secret to capturing more bookings, higher room rates, and more revenue every day, even while you sleep. That is if you have time for sleep.

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How to capture more Revenue with Automated Pricing Book Cover

5

Automated Pricing: A Game Changer

Because so many big, branded hotels practice dynamic pricing and so few smaller, independent properties do, it creates an imbalance. Pricing for small hotels is often out of sync with the rest of the market, either too high or too low. As a result, large hotels scoop up more bookings at higher rates, leaving the leftovers to smaller properties.

Is this fair? Of course not. It’s because these hotels are armed with a secret weapon: a revenue management system (RMS). An RMS automates pricing, inventory control, and hundreds of other revenue management tasks on behalf of a hotel.

Until recently, RMSs were designed primarily for large hotels with a dedicated revenue manager who has ample time to learn and operate the technology. For smaller properties, the systems are too complex, too expensive, and too time-consuming.

However, all that is changing. Today, there are revenue solutions custom-built for smaller properties. These solutions strip away the advanced features smaller properties don’t need and focus on automating the pricing process. Easy to learn and operate, they don’t require the expertise of a revenue manager; they can be managed by any manager in only one or two hours per week.

For small to medium-sized independent properties, automated pricing software is a game changer. Before we explore the benefits, let’s explain how the technology works.

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