Hotel Revenue Management System

System Components

System Components


Dynamic Daily Rate Calculations component

The price control is dynamic in time; so pricing decisions have to be considered from a strategic point of view. Early sold-outs will diminish the opportunity to obtain more revenues from future customers, but waiting too long for higher-priced reservations may leave the hotel with empty rooms.
Our system solves the problem of dynamic pricing control. IQrates performs dynamic recalculation of the most optimal rate for each day in the future.

Reporting component: in-depth analysis of booking pace, demand levels and other metrics

This component includes a range of comprehensive reports and graphs on the hotel’s performance. It assists managers in objective evaluation of all changing parameters necessary to make important profit maximizing decisions.
The data is displayed on the manager’s dashboard for quick access and easy interpretation. It provides comparisons, simple-to-read charts and graphs with all data prioritized in order of importance and urgency.

Examples of data analyzed and presented:

    • Occupancy
    • ADR
    • RevPAR
    • Booking pace
    • Revenues
    • Stay restrictions
    • Reservation patterns
    • Group booking patterns
    • Competitive Rates
    • Customer flow
    • Historic data on any given date, and more

    Additional Software Features


    Market Information component

    This component obtains information on competitors’ rates, sourced from the major web rate shoppers. The rate information is automatically downloaded into the system and is used for price calculations. This information can also be displayed in the ‘Informational tab’ in the form of reports and graphs, enabling Revenue Managers to dynamically monitor market trends and conduct an in-depth analysis of price fluctuations.

    Discount Management and Market Mix component

    Taking into consideration the number of remaining rooms, our system finds the most efficient set of booking channels. These are based on discount, markup, and commission amounts. The system then performs the necessary actions to manage them for each day of the year by opening or closing corresponding plans and channels in order to maximize final profits from operations.

    Allocation Management component

    The system constantly monitors the number of rooms allocated for each booking channel and optimizes them for obtaining the most adequate balance among different channels providing the highest possible outcome as in-depth analysis of price fluctuations.



    Stay Restriction Management component

    The system analyzes booking patterns and suggests (or sets) stay restrictions, like close to arrival, minimum length of stay, stay throughs, and more.

    Inventory Control component

    Performs necessary actions to manage overselling by constantly monitoring the number of rooms allotted to different intermediaries and wholesalers. It provides overselling recommendations to offset expected no-shows and cancellations as well as displaying at-a-glance information of allotments, and highlights the dates that require closer attention.

    Upgrade Recommendations component

    This alerts the manager with suggestions about room upgrades and room type replacements that will generate higher revenues. It also advises up-sell programs to boost profit, customer satisfaction and employee morale.



    Room Type Differentials component

    Finds the most optimal price differentials among different room type buckets and performs necessary actions to balance the differences, yielding optimal results.

    Group Management component

    Provides assistance to the hotel manager in estimating group profitability, taking into account all expected revenues generated by the group. It then suggests the breakeven and the most optimal price point, thus allowing instant group rate quotes. It also analyzes group-booking patterns and shows irregularities. Based on demand levels, the system monitors the number of rooms available for group reservations on each given date.

    Corporate Account Management component

    Assists the manager in estimating corporate account profitability. It takes into account the expected volume of bookings and all expected revenues generated by the guests. It then suggests the breakeven and the most optimal price point, thus allowing instant group rate quotes.
    When the account is accepted, the system analyzes the company’s reservation activity and provides information on booking patterns, revenue volume, and other relevant metrics.



    Promotion Management component

    This component provides assistance to the manager for estimating profitability of planned promotions, while taking into account expected occupancy increase.

    Automatic Execution through Booking Channels

    Two-way integration with channel management companies allows for automatic execution through all appropriate booking channels.

     

    Automate the process of distributing updated parameters through all appropriate booking channels in one click.

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