Athena Information Systems | Comprehensive Solution For The Hospitality Industry
- Yield Management
Save Two-Thirds of Your Time: Upgraded and Evolved Property Price
1. Monitoring property prices is exhausting? Manual monitoring is OUT.
Athena Information Systems, the leader in Taiwan's property management system industry, with over 30 years of professional experience, is here to help you save valuable time. Our intelligent hotel management system provides Lead Time reports and dynamic price alerts. By utilizing the system's Yield Management features, you can understand your competitors' sales conditions and reduce time and labor costs, allowing you to secure more orders and stand out in the competition.
1. Customer feedback on the trial usage:
- This system is comparable to international revenue management systems (Yield Management) in the hospitality industry. It assists Taiwanese hotels in pricing differentiation based on different target customer segments, thereby effectively increasing room revenue.
- Previously, we spent four hours each day monitoring competitors' prices and adjusting our own prices. Since using the " Yield Management" feature, we only need 1.5 hours per day, significantly improving efficiency.
2. Real scenario:
- Challenge for hoteliers: There are numerous competing hotels near my property, making it a highly competitive area. What should I do?
Solution provided by Athena: Utilize the "Competitor Availability" rule-based pricing feature to set a specific price difference for your specific room types or special promotions compared to your competitors (e.g., always be $200 cheaper than competitors). This maintains price competitiveness, ensuring that customers always find your property offering excellent value for money.
Three Major Advantages - Effortlessly Manage Hotel Pricing and Revenue
- Know Your Competitors Inside Out - Lead Time Reports.
- Predict the sales conditions of competitors for specific stay dates (e.g., national holidays, peak seasons).
- Time Saved is Money Saved - Dynamic Price Alerts
- Reduce time costs by setting rules that trigger immediate email notifications when competitor prices change.
- Improve efficiency by eliminating the need for manual periodic checks on competitor price fluctuations.
- Keep Money in Your Pocket - Increase Revenue
- Secure more bookings to boost hotel revenue.
Interpretation and Guide to Pricing Strategies and Revenue Management
Are you still delving into pricing strategies? Let's briefly explain the importance of pricing strategies and revenue management. Revenue management strategy is considered a crucial aspect of hotel operations. Hotels commonly employ the Average Room Revenue (RevPAR) strategy to increase revenue by considering demand, booking status, and fluctuating prices. For example, at the optimal time, suitable rooms are marketed to customers who are comparing prices. In addition to evaluating different pricing models and implementing duration management strategies, it is also essential to simultaneously predict revenue, manage group bookings and overbooking, and implement pricing strategies.
Dynamic pricing adjusts room prices in a timely manner based on customer demand, market conditions, and competitive environment factors. It enables a more precise understanding of market demand and aims to maximize revenue. By utilizing digital tools and data analysis, hotels can gain a more accurate understanding of customer needs and market conditions, further enhancing the scientific and accurate nature of pricing.
Furthermore, for branded hotels selling the same product through multiple distribution channels, it is advisable to maintain price consistency while still differentiating sales prices based on different target customers across channels.
Therefore, through dynamic pricing, hotels can flexibly respond to market changes while maintaining good revenue. Implementing dynamic pricing strategies is an effective approach for hotels to increase revenue and enhance competitiveness.
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