Yield Management System
The Yield Management System is a system that automatically increases rates when occupancy increases and reduces rates when occupancy decreases. Also, a hotel can set up the system in a way that when occupancy decreases, the rates stay increased. When rates change up and down, the rates adjust automatically on a hotel’s webpage and OTAs.
Key benefits of using Yield Management System:
- Optimize revenue
- Automatically increase and decrease rates based on the mathematical formula
- Sell a hotel room at the right price to the right customer at the right time.
Revenue Management System (RMS)
Revenue Management System (RMS) is a software solution, which allows a hotel’s marketing team to carry out important revenue management tasks more efficiently and effectively. RMS will make use of data from a hotel, from the market, and the hotel’s competitive set, in order to make more informed decisions.
Key benefits of Revenue Management System:
- Rate Recommendations
- Knowledge of average compset rate
- Current market demand
- Market recovery insights