Hotel Revenue Management System (RMS)

Debunking Common Misconceptions about Revenue Management Systems

Revfine.com2024-12-02T11:08:34+01:00

Revenue Management Systems (RMS) have become an essential tool for hoteliers aiming to optimize revenue and maintain a competitive edge. Yet, misconceptions and objections often deter some from adopting these systems. In this article, we’ll explore the most common objections and explain why they are often rooted in misunderstanding, shedding light on how RMS can transform revenue management in the

Debunking Common Misconceptions about Revenue Management SystemsRevfine.com2024-12-02T11:08:34+01:00

How an RMS Sets You Up for Success in Low Season

Revfine.com2024-12-02T11:13:33+01:00

For seasonal properties, the low season isn’t just downtime—it’s the perfect opportunity to prepare for future success. Implementing a Revenue Management Solution (RMS) during this period allows you to maximize revenue and hit the ground running when guests start booking again. Here’s how. What Is an RMS and Why Does It Matter? A Revenue Management System is your go-to partner

How an RMS Sets You Up for Success in Low SeasonRevfine.com2024-12-02T11:13:33+01:00

The Hospitality Industry’s Digital Evolution – PMS and RMS: The Dynamic Duo Driving Hotel Success in a Digital World

Revfine.com2024-11-19T10:41:21+01:00

The hospitality sector is evolving rapidly. The digital age has brought new challenges and opportunities for hoteliers, making it essential to adopt advanced systems to optimize operations and enhance guest experiences. Two critical components of a hotel’s technology ecosystem are the Property Management System (PMS) and the Revenue Management System (RMS). Together, they help hotels stay competitive and adapt to

The Hospitality Industry’s Digital Evolution – PMS and RMS: The Dynamic Duo Driving Hotel Success in a Digital WorldRevfine.com2024-11-19T10:41:21+01:00

Key Considerations for Choosing the Right RMS During Budget Season

Revfine.com2024-10-08T19:31:36+02:00

As budget season approaches, selecting the right Revenue Management System (RMS) is one of the most critical decisions a hotelier can make. Whether you manage an independent hotel, an urban property, or oversee multiple hotels, a well-suited RMS can optimize pricing strategies, enhance profitability, and simplify your operational processes. The key to making the right choice lies in aligning your

Key Considerations for Choosing the Right RMS During Budget SeasonRevfine.com2024-10-08T19:31:36+02:00

Embracing Revenue Management Technologies in 2024: A Guide for Progressive Hoteliers

Revfine.com2024-08-13T17:12:53+02:00

As we navigate through 2024, the hospitality sector is undergoing a transformative phase, heavily influenced by the integration of cutting-edge technologies and innovative strategies. These changes are pivotal in not only enhancing guest experiences but also in driving revenue maximization. One noteworthy trend is the increasing adoption of revenue management technologies in the hotel industry, a movement gaining momentum in

Embracing Revenue Management Technologies in 2024: A Guide for Progressive HoteliersRevfine.com2024-08-13T17:12:53+02:00

3 Key Questions for Evaluating RMS Options Before Budget Season

Revfine.com2024-07-16T10:03:30+02:00

Hotel budgeting season is right around the corner, and many hoteliers are getting ready to roll up their sleeves and start making tough financial decisions as they look to align investment priorities with next year’s budget projections. This is often a challenging and time-consuming process, but it’s also an opportunity to think through a strategic vision and evaluate the tools

3 Key Questions for Evaluating RMS Options Before Budget SeasonRevfine.com2024-07-16T10:03:30+02:00

6 Ways Revenue Management Systems Help Hoteliers Do More with Less

Revfine.com2024-06-17T15:42:02+02:00

Most independent hoteliers are used to juggling more with less dedicated resources, but effective revenue management—and the tools that enable it—should not be written off as exclusively a "big brand" or "large hotel" concern. What Is a Revenue Management System? Among the technologies typically used by hoteliers, revenue management systems (RMS) are uniquely positioned to have an outsized impact on

6 Ways Revenue Management Systems Help Hoteliers Do More with LessRevfine.com2024-06-17T15:42:02+02:00

Interview with CEO and Co-founder Ari Andricopoulos of RoomPriceGenie

Revfine.com2024-05-27T09:24:55+02:00

We're interviewing Ari Andricopoulos, the CEO and Co-founder of RoomPriceGenie. Ari developed automation that helps hoteliers determine the best pricing policy for any given moment. It's not just a flat number, either. But as an easy-to-understand analysis that both provides advice and explains the reasoning behind the decisions. Can you tell us a

Interview with CEO and Co-founder Ari Andricopoulos of RoomPriceGenieRevfine.com2024-05-27T09:24:55+02:00

5 Reasons Why Implementing RMS in High Season Makes Absolute Sense

Revfine.com2024-05-20T10:36:33+02:00

Check-in lines, a full luggage store, and you running around, juggling hotel admin work, staff, customer service, marketing, and prices. Welcome to the high season. Amidst this chaos, implementing a new technology solution like a Revenue Management System (RMS) might be the last thing on your to-do list. However, here are five reasons why doing so during this time could

5 Reasons Why Implementing RMS in High Season Makes Absolute SenseRevfine.com2024-05-20T10:36:33+02:00

Why Revenue Management Systems Will Never Replace Human Revenue Managers

Revfine.com2024-05-07T13:02:52+02:00

When the desktop computer came along, it needed human input. It’s no different with an RMS (revenue management system.) Even an AI-enabled RMS can’t think independently (and that’s a good thing!) You’ve probably heard plenty about AI (artificial intelligence) chatbots that learn from biased human language and “deep fakes,” which are the 21st c. version of Photoshop. These are just

Why Revenue Management Systems Will Never Replace Human Revenue ManagersRevfine.com2024-05-07T13:02:52+02:00

Steps for Success: Evaluating and Pricing Group Business

Revfine.com2024-05-22T18:27:23+02:00

Group business is an undeniably important piece of the revenue puzzle for hotels. However, not all group revenue is equally valuable or desirable. To achieve an ideal mix of group and transient business, hotels must undergo a detailed evaluation process—one that can be greatly aided with an advanced revenue management system. Ten Crucial Steps to Evaluating and Pricing Group Business

Steps for Success: Evaluating and Pricing Group BusinessRevfine.com2024-05-22T18:27:23+02:00

Hotel Revenue Management System Adoption: Tips for a Smooth Transition

Revfine.com2024-03-25T10:52:49+01:00

A revenue management system (RMS) is a fantastic tool for attracting demand from high-value guests, driving efficient operations, improving revenue performance, and increasing profitability. Of course, the best tools in the world won't do your property much good if your staff isn't bought in on their proper usage and equipped with what's needed to get the most out of them.

Hotel Revenue Management System Adoption: Tips for a Smooth TransitionRevfine.com2024-03-25T10:52:49+01:00

Revenue Management System (RMS): What Are the Advantages?

Martijn Barten2024-07-12T11:51:06+02:00

A revenue management system is a software solution that allows hospitality brands to carry out various revenue management activities. For instance, the software makes it easier to forecast changes in demand and optimize pricing. Revenue management systems provide hotels and similar businesses with a number of major advantages, including improved accuracy and efficiency. It's important for business leaders to understand

Revenue Management System (RMS): What Are the Advantages?Martijn Barten2024-07-12T11:51:06+02:00

Hotel RMS Evolution: From Ledgers to Spreadsheets to Cloud-Based Systems

Revfine.com2023-11-21T16:08:32+01:00

While the evolution of all hotel operational technologies has been a fascinating study, the evolution of hotel revenue management systems (RMS) has been particularly interesting, as it has gone through so many distinct and completely different phrases in a relatively short time (approximately the last ten years). RMS Transformation - From Ledgers to AI Cloud Systems Through this evolution, revenue

Hotel RMS Evolution: From Ledgers to Spreadsheets to Cloud-Based SystemsRevfine.com2023-11-21T16:08:32+01:00

The Development of Revenue Management in the Hospitality Industry

Revfine.com2023-11-21T16:34:20+01:00

In recent years, the hospitality industry has navigated unique challenges. As we forge ahead into 2023 and 2024, the landscape of revenue management within this sector is undergoing transformative changes. These changes, crucial for adapting to new market conditions, enhancing efficiency, and aligning with customer preferences, notably accelerate technological integration. Revenue Management Trends in the Hospitality Industry This article delves

The Development of Revenue Management in the Hospitality IndustryRevfine.com2023-11-21T16:34:20+01:00

Tips for Choosing a Revenue Management System for Your Hotel

Revfine.com2023-12-20T16:45:49+01:00

Revenue management systems (RMS) are a new way of working for the vast majority of hotels – in fact, for most, this kind of software was not even an option before. But times are changing. Property management systems (PMS) are becoming more user-friendly, and such systems can help you simplify your life, save you time, and result in more revenue.

Tips for Choosing a Revenue Management System for Your HotelRevfine.com2023-12-20T16:45:49+01:00

What Tech Trends Are Impacting Revenue and Guest Experiences In 2023?

Anele2023-12-20T17:20:18+01:00

Question for Our Revenue Management Expert Panel: What Tech Trends Are Impacting Revenue and Guest Experiences In 2023? Our Revenue Management Expert Panel Chaya Kowal - Cluster Director Of Revenue Management, Potato Head Family Diego Fernández Pérez De Ponga - Director of Revenue Management, Palladium Hotel Group Pablo Torres - Director, TEDUKA &

What Tech Trends Are Impacting Revenue and Guest Experiences In 2023?Anele2023-12-20T17:20:18+01:00

What Advice Would You Offer to Hotels Choosing Their Tech-Stack?

Anele2023-12-20T16:46:12+01:00

Question for Our Revenue Management Expert Panel: What advice would you offer to hotels choosing their tech-stack? For example, best practices, features, potential pitfalls, and how to "future-proof". Our Revenue Management Expert Panel Dermot Herlihy - Commercial Director, DUKES LONDON Mariska van Heemskerk - Owner, Revenue Management Works Diego Fernández Pérez De Ponga -

What Advice Would You Offer to Hotels Choosing Their Tech-Stack?Anele2023-12-20T16:46:12+01:00