6 min read

6 Products to Help Your Hotel Price Your Rooms More Efficiently and Maximize Yield

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Adam Hollander in Revenue Management

Last updated March 16, 2023

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Optimizing pricing and pricing rooms more efficiently is important for hotels to maximize yield because it allows them to maximize their profits while still providing competitive rates to their customers. By pricing rooms more efficiently, hotels can ensure that they are not leaving money on the table by undercharging for their rooms. Additionally, pricing rooms more efficiently allows hotels to adjust their rates to reflect changes in demand, ensuring that they are able to capture the most revenue possible from their guests. Finally, pricing rooms more efficiently allows hotels to remain competitive in the market, as they can adjust their rates to match or beat the rates of their competitors.

Hotel revenue management technology helps hotels optimize their pricing and maximize yield by providing them with the tools to analyze and adjust their pricing strategies. This technology can help hotels identify the best pricing strategies for their specific market, track competitor pricing, and adjust their rates accordingly. It can also provide insights into customer behavior, allowing hotels to adjust their rates to meet customer demand. Additionally, revenue management technology can help hotels forecast future demand and adjust their rates accordingly. This helps hotels maximize their revenue and ensure they are pricing their rooms efficiently.

 

1. Revenue Management Software

Software to analyze, automate and optimize pricing strategy to increase profitability

Revenue management software helps hotels optimize their pricing and maximize yield by providing them with data-driven insights into the market. The software can analyze historical data to identify trends and patterns in customer demand, allowing hotels to adjust their pricing accordingly. It can also provide real-time data on competitor pricing, allowing hotels to adjust their rates to remain competitive. Additionally, revenue management software can help hotels identify opportunities to increase their revenue by offering discounts and promotions at the right times. Finally, the software can help hotels forecast future demand and adjust their pricing accordingly.

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THE PITCH
RATINGS BEST FOR
98 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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IDeaS, a SAS company, is the world’s leading provider of revenue management software and services. With over 30 years of expertise, IDeaS drives better revenue for more than 15,000 clients in 140 countries. Combining industry knowledge with innovative, data-analytics technology, IDeaS creates sophisticated yet simple ways to empower revenue leaders with precise, automated decisions they can trust.
Product logo
IDeaS Revenue Solutions Revenue Management Systems
THE PITCH
RATINGS
98 HT Score
IDeaS, a SAS company, is the world’s leading provider of revenue management software and services. With over 30 years of expertise, IDeaS drives better revenue for more than 15,000 clients in 140 countries. Combining industry knowledge with innovative, data-analytics technology, IDeaS creates sophisticated yet simple ways to empower revenue leaders with precise, automated decisions they can trust.
Learn More
Image
THE PITCH
RATINGS BEST FOR
100 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Duetto’s GameChanger is a revenue strategy powerhouse that lets your team develop and implement unique strategies quickly and easily. Ingesting more data than any other RMS, GameChanger puts advanced pricing analytics and segmentation tools at your fingertips to help you maximize booking revenues.
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GameChanger by Duetto Revenue Management Systems
THE PITCH
RATINGS
100 HT Score
Duetto’s GameChanger is a revenue strategy powerhouse that lets your team develop and implement unique strategies quickly and easily. Ingesting more data than any other RMS, GameChanger puts advanced pricing analytics and segmentation tools at your fingertips to help you maximize booking revenues.
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Image
THE PITCH
RATINGS BEST FOR
99 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Boost your revenue by 22% and save time with our easy-to-use automated revenue management system.
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RoomPriceGenie Revenue Management Systems
THE PITCH
RATINGS
99 HT Score
Boost your revenue by 22% and save time with our easy-to-use automated revenue management system.
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Image
THE PITCH
RATINGS BEST FOR
94 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Atomize is a revenue management system that provides a powerful combination of artificial intelligence and user control mechanisms.
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Atomize Revenue Management Systems
THE PITCH
RATINGS
94 HT Score
Atomize is a revenue management system that provides a powerful combination of artificial intelligence and user control mechanisms.
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2. Channel Managers

Optimize visibility and inventory across channels in real time

A channel manager helps hotels optimize their pricing and maximize yield by providing them with real-time data on market trends and competitor pricing. This data allows hotels to adjust their rates accordingly to ensure they are competitive and maximize their profits. The software also allows hotels to set up automated pricing rules, which can be used to adjust rates based on demand, seasonality, and other factors. This helps hotels to ensure they are pricing their rooms correctly and maximizing their profits.

Image
THE PITCH
RATINGS BEST FOR
100 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
SiteMinder is the world’s leading open hotel commerce platform, ranked among technology pioneers for opening up every hotel’s access to online commerce. It’s this central role that has earned SiteMinder the trust of tens of thousands of hotels, across 150 countries, to sell, market, manage and grow their business. The global company, headquartered in Sydney with offices in Bangkok, Berlin, Dallas, Galway, London and Manila, generated more than 100 million reservations worth over US$35 billion in revenue for hotels in the last year prior to the start of the pandemic.
Product logo
SiteMinder (The Channel Manager) Channel Managers
THE PITCH
RATINGS
100 HT Score
SiteMinder is the world’s leading open hotel commerce platform, ranked among technology pioneers for opening up every hotel’s access to online commerce. It’s this central role that has earned SiteMinder the trust of tens of thousands of hotels, across 150 countries, to sell, market, manage and grow their business. The global company, headquartered in Sydney with offices in Bangkok, Berlin, Dallas, Galway, London and Manila, generated more than 100 million reservations worth over US$35 billion in revenue for hotels in the last year prior to the start of the pandemic.
Learn More
Image
THE PITCH
RATINGS BEST FOR
91 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Profitroom Channel Manager is a powerful revenue management tool, synchronizing your availability and rates across all channels in real-time.
Product logo
Profitroom Channel Manager Channel Managers
THE PITCH
RATINGS
91 HT Score
Profitroom Channel Manager is a powerful revenue management tool, synchronizing your availability and rates across all channels in real-time.
Learn More
Image
THE PITCH
RATINGS BEST FOR
86 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Channel Manager software with full two-way sync of rates, content, and availability. Connect with Airbnb, Expedia.com, Booking.com, Google, Tripadvisor and a wide range of regional and specialist channels with just one click.
Product logo
eviivo Suite™ CM Channel Managers
THE PITCH
RATINGS
86 HT Score
Channel Manager software with full two-way sync of rates, content, and availability. Connect with Airbnb, Expedia.com, Booking.com, Google, Tripadvisor and a wide range of regional and specialist channels with just one click.
Learn More

3. Central Reservations Systems

Get a unified view of your reservations & supercharge your team's workflow with an online reservation management system

Central reservations systems (CRS) help hotels optimize their pricing and maximize yield by providing them with the ability to set dynamic pricing for their rooms. This allows hotels to adjust their prices based on market demand, seasonality, and other factors. CRS also provide hotels with the ability to track and analyze their pricing strategies, allowing them to make informed decisions about how to price their rooms. Additionally, CRS can help hotels identify opportunities to increase their revenue by offering discounts and promotions to customers. Finally, CRS can help hotels manage their inventory more efficiently, allowing them to better control their costs and maximize their profits.

Image
THE PITCH
RATINGS BEST FOR
100 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Most hotels have a Classic Flow booking engine, which allows it to be customized with a header. In Classic Flow the hotel can choose to breakdown by rooms by type and category. Once a room type has been selected the client has the ability to select a rate plan from the available offers.
Product logo
Cendyn CRS Hotel Reservations Systems
THE PITCH
RATINGS
100 HT Score
Most hotels have a Classic Flow booking engine, which allows it to be customized with a header. In Classic Flow the hotel can choose to breakdown by rooms by type and category. Once a room type has been selected the client has the ability to select a rate plan from the available offers.
Learn More
Image
THE PITCH
RATINGS BEST FOR
82 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Vertical Booking's CRS is #2 rated by HotelTechReport users relative to SynXis by Sabre which is ranked 11/36 vendors included in the analysis. Customizable integrated reservation solutions that support the entire guest booking cycle
Product logo
Vertical Booking (CRS) Hotel Reservations Systems
THE PITCH
RATINGS
82 HT Score
Vertical Booking's CRS is #2 rated by HotelTechReport users relative to SynXis by Sabre which is ranked 11/36 vendors included in the analysis. Customizable integrated reservation solutions that support the entire guest booking cycle
Learn More

4. Business Intelligence Software

Say goodbye to spreadsheets and leverage modern BI tools to visualize your data and uncover hidden insights

Business intelligence software can help hotels optimize their pricing and maximize yield by providing them with data-driven insights into the market. This data can be used to identify trends in customer demand, competitor pricing, and other factors that can influence pricing decisions. With this information, hotels can adjust their pricing strategies to ensure they are offering the best rates for their rooms and maximizing their profits. Additionally, business intelligence software can help hotels track their performance over time, allowing them to make adjustments as needed to ensure they are staying competitive in the market.

Image
THE PITCH
RATINGS BEST FOR
100 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
An easy-to-use platform for single and multi properties that gives access to all relevant factors impacting demand for your hotel rooms, and provides unlimited, real-time insights on current, future and past rates for you and your competitors.
Product logo
Lighthouse (Revenue Insight) Business Intelligence
THE PITCH
RATINGS
100 HT Score
An easy-to-use platform for single and multi properties that gives access to all relevant factors impacting demand for your hotel rooms, and provides unlimited, real-time insights on current, future and past rates for you and your competitors.
Learn More
Image
THE PITCH
RATINGS BEST FOR
96 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
ProfitSword ranks #2 in the Business Intelligence category on Hotel Tech Report and was amongst the 'Best Hotel Business Intelligence Software of 2022'. 94% of 273 hoteliers from 5 countries highly recommend ProfitSword to their peers.
Product logo
ProfitSword by Actabl Business Intelligence
THE PITCH
RATINGS
96 HT Score
ProfitSword ranks #2 in the Business Intelligence category on Hotel Tech Report and was amongst the 'Best Hotel Business Intelligence Software of 2022'. 94% of 273 hoteliers from 5 countries highly recommend ProfitSword to their peers.
Learn More
Image
THE PITCH
RATINGS BEST FOR
91 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
M3 Operations Management provides easy-to-use back office accounting technology, including dashboards displaying business intelligence, financial data, and KPIs across all of your properties. You’ll spend more time serving guests and motivating employees, and less time compiling data, centralizing processing, and creating reports.
Product logo
M3 (Insight) Business Intelligence
THE PITCH
RATINGS
91 HT Score
M3 Operations Management provides easy-to-use back office accounting technology, including dashboards displaying business intelligence, financial data, and KPIs across all of your properties. You’ll spend more time serving guests and motivating employees, and less time compiling data, centralizing processing, and creating reports.
Learn More

5. Market Intelligence Software

Keep a pulse on competitors and use real time market insights to increase occupancy and optimize pricing

Market intelligence software helps hotels optimize their pricing and maximize yield by providing them with real-time data on competitor pricing, market trends, and customer demand. This data can be used to adjust prices in order to stay competitive and maximize revenue. The software can also provide insights into customer preferences and booking patterns, allowing hotels to adjust their pricing strategies to better meet customer needs. Additionally, the software can help hotels identify opportunities to increase revenue by offering discounts or promotions at certain times of the year.

Image
THE PITCH
RATINGS BEST FOR
100 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
The Overview consolidates and tracks key commercial metrics. With the Overview, hotelier's can now execute and optimize their commercial strategy - in one singular view. The Overview makes it easier for hoteliers to react, adjust and regain forward momentum in today’s fast-paced market.
Product logo
Lighthouse (Rate Insight) Rate Shopping
THE PITCH
RATINGS
100 HT Score
The Overview consolidates and tracks key commercial metrics. With the Overview, hotelier's can now execute and optimize their commercial strategy - in one singular view. The Overview makes it easier for hoteliers to react, adjust and regain forward momentum in today’s fast-paced market.
Learn More
Image
THE PITCH
RATINGS BEST FOR
92 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Insights offers you a new way forward, making sure every business move you make is based on intelligent, real-time data. At a time when competition is fierce, having accurate and clear data at hand can be the difference your hotel needs.
Product logo
SiteMinder (Insights) Rate Shopping
THE PITCH
RATINGS
92 HT Score
Insights offers you a new way forward, making sure every business move you make is based on intelligent, real-time data. At a time when competition is fierce, having accurate and clear data at hand can be the difference your hotel needs.
Learn More

6. Meetings & Events Intelligence

Get a pulse on the market and find out where business is flowing to capture your share

Meetings and Events Intelligence software can hotels optimize their pricing and maximize revenue from events by providing accurate demand forecasting, competitor analysis, real-time pricing optimization, group pricing management, and reporting and analytics.  Some of the core use cases and workflows include:

  1. Demand forecasting: Meetings and Events Intelligence software can analyze historical data and market trends to predict demand for rooms during peak event periods. By understanding demand, hotels can adjust their pricing strategy to ensure they are capturing the maximum revenue from each event.

  2. Competitive pricing analysis: The software can also analyze competitor pricing for rooms during peak event periods, allowing hotels to price their rooms competitively and maximize yield.

  3. Real-time pricing optimization: Meetings and Events Intelligence software can use real-time data and market intelligence to adjust room prices in real-time based on demand and competition, ensuring hotels are maximizing revenue.

  4. Group pricing management: The software can also assist hotels in managing group bookings and pricing to ensure maximum revenue is generated from group events.

  5. Reporting and analytics: The software provides comprehensive reporting and analytics, allowing hotels to identify areas of opportunity to maximize revenue and make data-driven pricing decisions.

Image
THE PITCH
RATINGS BEST FOR
100 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Get smarter with your space and strategize with a visual solution built for meetings and events.
Product logo
IDeaS (SmartSpace) Meetings & Events Intelligence
THE PITCH
RATINGS
100 HT Score
Get smarter with your space and strategize with a visual solution built for meetings and events.
Learn More
Image
THE PITCH
RATINGS BEST FOR
100 HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
Learn More
Get smarter with your space and strategize with a visual solution built for meetings and events.
Product logo
IDeaS (SmartSpace) Meetings & Events Intelligence
THE PITCH
RATINGS
100 HT Score
Get smarter with your space and strategize with a visual solution built for meetings and events.
Learn More

Hotels that optimize their pricing and price their rooms more efficiently to maximize yield will outperform those who do not in the coming years by increasing their revenue and profits. By pricing their rooms more efficiently, hotels can ensure that they are not leaving money on the table and are able to capture the maximum amount of revenue from each room. Additionally, hotels that optimize their pricing can better manage their inventory and ensure that they are not overbooking or underbooking rooms. This will help them to better manage their occupancy rates and ensure that they are able to maximize their profits. Finally, hotels that optimize their pricing can better anticipate demand and adjust their prices accordingly, allowing them to capture more revenue from peak periods.