6 Reasons Why Small Independent Hotels Need Automated Revenue Management Technology
Small independent hotels have fewer guest rooms and spaces for events and meetings and limited resources to manage their restaurant, bar, spa and other supplementary sources of revenue. Furthermore, capturing, compiling and tracking all this continuous information without automation is difficult. So, the biggest challenge facing small hotel owners is processing the information coming in from multiple sources manually and making profitable pricing decisions. All of this often leaves revenue optimization up to the hotel’s general manager who is also managing other hotel responsibilities or overburdens the marketing team that is already having a hectic time selling the right product to the right customer on the right day at its best price.
Not having a dedicated revenue management department ultimately results in either under-pricing or over-pricing of room rates that leave small hotel owners at a disadvantage in a highly competitive market. Hotel revenue management software is an essential investment for small hotel owners looking to streamline their operations, improve their processes, boost their occupancy and delight their guests.
If you are still not convinced that your hotel needs the power of automation, here are 6 big reasons that will make you believe why hotel revenue management software is essential to increase the sales of small hotels:
1. Dynamic Rate Management Drives More Direct Bookings
Hotel revenue management software uses artificial intelligence to determine the best room rates on the basis of competitor pricing, peak seasons, customer demands and occupancy. It sets the right pricing to drive maximum bookings and increases hotel profits round the year.
2. Brings Smaller Independent Hotels at Par with Branded Hotel Chains
Whether it is managing an online presence, tracking reviews, analyzing seasonal demands or determining profitable group business, branded hotels are using automation to their advantage everywhere possible. If a small independent hotel deploys fully-automated, all-in-one hotel management software that includes 24X7 dynamic pricing, it works to level the playing field and frees up valuable time and resources for the hotel staff so they can focus on improving guest services.
3. Accurate Analytics Make it Much Easier to Maximize Occupancy
Small hotels can enjoy significant benefits by using hotel revenue management software that integrates a real-time dashboard. With easy access to all critical data including seasonal occupancy rates, guest preferences, booking patterns, and customer behavior, it becomes easier to make smarter decisions that drive more direct bookings and boost the bottom line.
4. Helps Strike a Perfect Balance between Supply and Demand
Ensuring optimal reservations with fewer rooms by accepting bookings that offer maximum value across lengths of stay is crucial to maximizing hotel revenue. Hotel revenue management system is designed to optimize the right price for the right guests at peak times in all the right places to give a guaranteed increase in the hotel business.
5. Automated Channel Management Brings Assured Flow of Business
Since maximum bookings are last-minute decisions, hotel revenue management software dynamically adjusts ARR (average room rate) to generate a steady stream of revenue. This enables hotels to fill up excess capacity while ensuring appropriate staffing levels, so guests are well-attended to and receive prompt attention at all times.
6. A One-Click Website with a Seamless Booking Engine Increases Online Sales
Hotel revenue management software automates end-to-end online marketing and rate management across all OTA channels and the hotel website. This brings about a big boost in online bookings that increase hotel occupancy and sales significantly with a one-click ready booking engine.
Aiosell is the only software that uses 24×7 dynamic pricing to increase hotel occupancy and sales. If you want to see a guaranteed increase in your hotel business at no fixed costs, try Aiosell and pay only if you see results!