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Hotel how to make use of advanced technology to implement earnings management

Date: 2014-12-28

Hotel revenue management manager's job is not easy.

Responsible for the hotel's pricing decision is not enviable work, can not afford a revenue management manager of the hotel, of course, more difficult.
Now, however, earnings management is very important for any hotel.If there were no earnings management, the hotel will not be able to improve bookings, revenue and profits, unable to provide competitive prices and promotional products, also can predict the upcoming booking season.Successful revenue management requires overall understanding to all income channels in the hotel, including promoting the hotel online booking website, marketing and promotional activities, according to one of the most basic principles of economics and provide valuable decision-making, namely: supply and demand.
Many hotels will apply revenue management system (hereinafter referred to as "RMS"), in fact there are some RMS is very good.
The RMS of the most basic function is to use data determine the supply and demand of the hotel, the shopkeeper recommend optimal prices for wine.
RMS concise and efficient, in order to achieve efficient, you first need to know exactly what the hotel room supplies, if not this, will not be able to suggest the optimal pricing.
Keywords: certainty.But didn't have a lot of wine shop owners can take the uncertainty and thus cause overbooked, rising costs, unable to provide the most competitive price.
Determine the hotel supply is not just a number of rooms so simple
Assuming a 300 - room hotel, has confirmed the booking, between 150 and 150 room available.It's very simple.But in fact, if the hotel was advertised through online booking website, has its own website, a travel agent, there are public and telephone booking, the supply will continue to change.
Aston hotels and resorts, therefore, vice President of revenue management to optimize Vishwas Bhatia to the importance of dynamic pricing is summarized as "time based pricing", that is, according to the requirements of real time pricing.
No matter which kind of channel, through the hotel's pricing must and realistic market conditions and inventory directly related.However, there is not much wine shop owner can be confirmed in the point of sale accurate inventory, make the inventory in the current dynamic network environment can not be and booking and cancel the match speed up.
When the lack of real-time booking means that don't know pricing decisions
Wine now the owner of a big opportunity is there are a large number of channels can choose to meet earnings targets, these channels including OTA, not only include metasearch site, GDS, wholesalers and hotel own website.
However, despite these channels to offer more options, but it also means that the hotel room reservation don't have access to a greater risk of real-time performance.In fact, because the industry is still in the opponent dynamic data, a channel can't get the booking situation is very common, and probably a few days are not at the front desk system (PMS), or the central reservation system (CRS) to track.There are very few cost is not high distribution system can provide real-time booking, therefore, not accurate data for hotel cannot understand their real-time supply, to make good decisions.
Pho Cus Wright, according to the online travel market in 2013 to $2013 a new record, the online travel faster than the growth of the entire tourism market.This shows that there are many real-time booking, hotel supplies will have to implement real-time to maintain competitiveness.By using real-time technology, hotel will be able to pull more bookings.
How to use real-time technology management real-time booking
Now, the most optimal (real-time) distribution and revenue management technology through automatic function greatly improve the efficiency and speed of the hotel business, make wine shop owner management and optimization of the real time online booking easier.
Once only a global hotel chain will implement revenue management principles, to afford advanced PMS (or some earnings management experts), now small hotel chains and independent hotels also can obtain the RMS and revenue management skills.RMS and revenue management skills become the part of a more comprehensive hotel technology management plan, and is integrated, based on the cloud.
What is the result in the end?The answer is hotel revenue and profits will increase.
The optimal solution will not only eliminate the risk of failure and overbooked reservation, also can let wine shop owner to reduce costs, using the advantage of pricing for more income.It is important that they leave out the trouble that manual records, and manual records are no longer provide feasible methods of real-time price, to ensure that appropriate prices.