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Case Study – Exactly How Much Extra Revenue Does a Revenue Management System Make?
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Real-time pricing optimization is one of the most important features in the RoomPriceGenie automated pricing solution, as it will automatically update your prices as internal (PMS data) and external (market conditions) data changes. There are many key benefits of real-time pricing automation for hotels of all types and sizes, including:Â
The RoomPriceGenie solution’s real-time pricing optimization ensure hotels are always selling their rooms at the best possible rate, as market supply and demand changes. In addition to market supply and demand data, the RoomPriceGenie automated pricing solution factors in additional data, including:
Hotels that use the RoomPriceGenie automated pricing solution have been shown to increase their revenue by 22% (with increased ADR); for an average 19-room hotel, that equals an increase of $70,000 in revenue per year!
Because RoomPriceGenie’s real-time pricing optimization factors in your competitors’ pricing in its automated pricing recommendations, it makes it possible for your property to direct guests away from booking with your competitors and into your comfortable beds. In today’s highly competitive marketplace, this is a very important factor in your property’s long-term profitability, as it will bring in new guests and keep your current guests coming back, again and again.Â
RoomPriceGenie’s real-time pricing optimization, will consistently determine the price that will make your property the most revenue, based on the exact number of rooms you have available, in real-time. This helps you to maximize occupancy without the risk of overbooking.
Real-time pricing optimization using will help to boost your occupancy by ensuring you are selling your rooms at the best possible rate, based on current market conditions. Pricing your rooms right will ensure that lookers become bookers, while making sure that you’re never leaving money on the table.Â
Everyone loves to get a great deal on a beautiful hotel stay and, with real-time pricing automation, you will always be offering the most fair and reasonable room rate, which will result in more bookings, more positive reviews and repeat customers. Win/win!
You can go live with your new prices in a few days, and start getting the benefit without paying a penny. Why not book a call with our revenue manager to see why so many hoteliers love RoomPriceGenie?
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