Power Your Profit

Technology is being increasingly used by hoteliers to strategize and bolster revenues in their properties.

-  BINDU RAO

As travel recovery continues and the travel industry (both hotels and flights alike) gains from the seller's market, it is imperative that effective Revenue Management systems are in place to deliver sound gains whilst capturing the optimal share metric.

ROBUST SYSTEMS

Global hotel brands have instilled robust RM systems which feed real time market conditions and help guide and support the commercial teams in effective course of action in these fluid demand patterns. In the hospitality industry, various revenue management systems are used, such as property management systems (PMS) with revenue management capabilities, channel management systems (CMS) for distribution, customer relationship management (CRM) systems for guest data analysis, and revenue management systems (RMS) specifically designed for optimizing pricing and inventory allocation.

Vishvesh Madhavan, Market Head of Revenue, Bangalore, Hilton Hotels and Resorts, says, "We have the best-in-industry Revenue Management systems in place for optimizing availability, rates and yielding strategies across our distribution spectrum to deliver tangible results. As for the RM systems - hotels are now going above and beyond the usual revenue optimization cycle, which was vastly dedicated to rooms. Revenue Intelligence is now circled across revenue-generating segments including food and beverage, catering (both out-door and indoor) and to even finer detail segments such as value add-ons and ancillary on spends."

TECH TALK

By implementing online booking engines, mobile apps, and channel management systems, technology streamlines the hotel booking process, providing a seamless and convenient experience for guests. This leads to increased direct bookings, reduced reliance on intermediaries, and ultimately boosts hotel revenue.