Rate Management Just Got A Whole Lot Easier
Your hotel may be losing profit opportunity every single day by not optimizing your rates across all sales channels, online and offline.
It makes sense to use a rate management system that's easy, smart and dynamic.
And stop losing profit opportunities.
Managing rate in a dynamic marketplace has become increasingly difficult. With RateWise RMS you have a cloud-based Rate Management System for your hotel that quickly and simply calculates optimised room rates to ensure higher room sales at the best achievable rates.
RateWise will generate more revenue for you by automating the rate expertise that your staff already have in their heads, freeing them up from the excessive time they would normally have to spend to apply that expertise. Over time, it builds a history for you based on ongoing rate behaviour which is then used to give forward-looking rules to set optimal rates in each situation. Every recommended rate is realistic and instantly traceable back to your staff's own rate rules and overrides - the system does not just spit out a rate without explanation. It is this real control over every rate change that makes RateWise unique.
See our blog post on why you need smarter rate/profit management
Here's what RateWise can do for you:
- Allows you to manage your entire property's rates in minutes per day, not hours
- Calculates the best rate for 365 days out so you are not missing opportunity in the long tail
- Automatically recalculates all your rates as often as required
- Uses Dynamic Rule overrides for special events
- Ensures that every single recommended rate is realistic and instantly traceable back to your own rules and overrides
- Uses visual feedback so that anyone (not just the Revenue Manager) can easily view activity for your property
- Uses visual feedback to allow you to seize opportunities to test higher rates or close of higher commission channels
- Provides detailed statistical information on historical sales patterns along with graphical displays of key data including Occupancy, Pickup, Events, Rate Changes and Competitor Rates
- Gives you the flexibility to use low-season tactics for filling rooms
- Can generate thousands in additional revenue each month.
RateWise interfaces with most major Property Management Systems such as Opera, Fidelio, Protel, EZYRes, Millennium, Hotsoft and many more. It also drives all the key Channel Managers including Bookassist Distribution Manager.
It features an integrated Rate Shopper to check competitor rates on up to 10 competitors for any particular room type.
The newly-enhanced RateWise Rate Management System can be used as a stand-alone product in any property, but it also directly controls rate feeds to both the Bookassist Booking Engine and Bookassist Distribution Manager to allow for dynamic rate changes in a hotel’s distribution based on changes in availability, lead time, season, day of week, distribution channel and other criteria.
Through full integration with Bookassist systems, RateWise will help hotels optimise their rate and profit not just for the short lead-in times that hotels typically concentrate on, but also for the increasingly problematic long lead-in times.
The rate strategy developed is of course equally applicable offline and brings real profit improvement across all of a hotel’s room sales, quickly.
For more information, contact us today.