From its tentative beginnings in the hospitality industry over twenty years ago, revenue management for hotels has always been about data. This data provides the information necessary for hotel managers to make informed decisions regarding their room rate structure, at any given time. Time is of course, another crucial piece in the hotel rate decision making process, along with information regarding the individual hotel guest.
Taken down to its most basic levels, these are the components, which make up the revenue management optimization equation. Effectively compiling and analyzing large amounts of data against complicated formulas to extract the maximum rate possible for a given customer, on any given day, requires both speed and scalability. Traditional hotel revenue management software, in the form of the first generation systems, and on into the second generation systems have provided the answers to the equation for hoteliers. These solutions, while each groundbreaking at their introduction, are becoming inefficient due to the inability to react to changing market conditions inside a 24-hour period.
What is needed by the hospitality industry is a revenue management optimization tool designed for the ever-changing challenges of the 21st century. One that provides big data; gathered, delivered, and analyzed in real time. A solution that offers hospitality revenue managers the information needed to offer hotel inventory at the optimal rate possible at any given moment. The advanced always-on multi-cloud global travel solution, which we at Above Property offer, arms hoteliers with the timely delivered, big data answers they require to effectively leverage their available property.
Above Property has built a highly innovative solution to the revenue management optimization equation. As a component of the Above Property Travel Solution set, our Inline Revenue Management module adjusts pricing and availability to allow for revenue optimization completely in real-time. The Above Property solution can handle transactions at lightning speed and is completely scalable, allowing for as many adjustments as desired. The adjustments to pricing and availability are all based on occupancy, seasonal trends, forecast, weather, booking pace, and competitive data that are all processed in real-time with every transaction.
The Above Property Travel Solution set features the fastest, most reliable, and easiest to use DRS on the planet. And is also both modular and compatible with all existing Property Management Systems and Central Reservation Systems.
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