What's the function of revenue management system in hotels

Revenue management system is a management tool that takes people as the leading factor and uses computer hardware, software, network communication and other resources to collect, transmit, process, store, update and maintain information and data, so as to improve the efficiency and benefit of enterprises, enhance their market competitiveness and provide basis for enterprise decision-making. Next, I'll tell you about the function of the revenue management system in the hotel. Come and have a look!

It can provide competitors' information and relevant analysis reports for hotel managers in time, so that we can know ourselves and win every battle.

Generally, the revenue management system providers will monitor and collect the dynamic situation of the hotel's main competitors through corresponding information technology means, and make targeted competition analysis with the help of the system to help the hotel formulate revenue management strategies.

it is not easy for hotels to collect competitor information. at present, except for some price information available in distribution channels, information such as room occupancy rate, average house price and market segments are generally difficult to obtain.

In order to enhance the functions of their products and improve the market competitiveness of their products, revenue management system suppliers usually establish corresponding channels or obtain relevant hotel market information in time through certain technical means, so as to provide their users with more services such as similar competition analysis, which is of great significance for hotel managers to formulate and adjust revenue management strategies and improve the forward-looking aspects of market judgment.

It has laid a foundation for the hotel to realize comprehensive management informationization.

hotel management informationization is an important means of contemporary hotel management. In the past, in the era far away from computers, from the beginning of customer reservation, reservation department personnel should record reservation information one by one; After the customer arrives at the store, the receptionist should record the customer's check-in information one by one; When customers spend money in the hotel, the service staff should record the customer's consumption information in detail; When the customer leaves the store, the front desk staff needs the relevant departments to deliver every consumption record of the customer in time, so as to settle the account for the customer in time. The work of the sales department is also done manually, such as pricing, room allocation and customer file management.

sometimes it takes a lot of time and energy for managers to count only one customer's annual consumption record. At that time, every consumption information of customers was recorded by practitioners with pen and paper one by one; In today's information technology era, these manual jobs have been replaced by computers.

In order to realize the comprehensive management informationization of hotels, besides the intelligent management of computers in front desk management, sales management, catering management, room management, recreation management and financial management, revenue management, as a discipline that integrates the theories of operational research, marketing and management science, needs to use computers instead of manual work.

only by supplementing the revenue management system, can the hotel move towards full realization of management informationization. Otherwise, it can be said that it is a lack of comprehensive management informatization. Revenue management system, as an important medium connecting customers, direct distribution channels and hotel front desk management system (PMS), plays an important role in the construction of the overall hotel management information system.

can be engaged in complex and numerous data operations, reducing manual labor, saving labor time and improving work efficiency.

one of the core contents of revenue management is to forecast the market demand in a certain period in the future. In order to make a good prediction, it is necessary to collect, summarize and sort out the guest history data first, then choose a suitable prediction method to make a prediction, and make a decision on the basis of correcting the deviation of the prediction results.

In the past, without the help of the system, managers needed to spend a lot of time collecting customer history data and engaging in complex mathematical operations, and sometimes it took a day or even longer to obtain a prediction result. In addition, the accuracy of manual prediction is generally low, which will restrict the improvement of hotel revenue.

because revenue management depends largely on an accurate forecast, accurate forecast can make the reservation system more efficient, and at the same time, it can help managers to optimize the allocation of existing room stocks more accurately.

With the help of computer technology, the revenue management system can automatically obtain and sort out the required customer history data by connecting with the hotel front desk management system (PMS), and calculate the complex and numerous data through the established prediction model in the system, which can calculate the prediction results needed by managers in a very short time, freeing managers from the heavy data calculation, so that they can have more energy to engage in market analysis, operation and decision-making.

It can solve technical problems that are difficult to realize manually, and realize functions such as price optimization, dynamic pricing and capacity control.

for example, room price optimization requires managers to determine the best available room price (BAR) in a certain market period or time period in the future, and the determination of the best available room price needs to be obtained by establishing the demand function relationship among room price, demand and income and analyzing the price elasticity of demand. In order to accurately establish the demand function relationship among house price, demand and income, including the price elasticity analysis of demand, it is necessary to apply complex mathematical models to operate, such as demand function model and regression analysis model.

and the data operation using these models can be completed by computer, which is difficult to be realized by manual operation.

for another example, dynamic pricing requires house prices to change with the fluctuation of market demand, which usually fluctuates frequently, even several times or even dozens of times at different time periods every day. Dynamic pricing requires house prices to change accordingly with the fluctuation of market demand.

it is not difficult to understand that the dynamic change of house prices in different periods of a day is almost unrealistic through manual operation, because the manual calculation of prices will lag far behind the fluctuation of market demand.

The capacity control refers to the effective allocation of the existing guest room stock. This allocation scheme not only needs to establish a complex mathematical model, but also needs to be applied to complex mathematical concepts such as optimal arrangement and nesting control, nonlinear relationship demand curve, etc. These complex mathematical operations with randomness are irreplaceable by manpower and need to be completed with the help of a computer system.

the perfect combination of artificial intelligence and computer intelligence is the need of the information age.

the combination of artificial intelligence and computer intelligence is not only the demand of hotel management, but also the need of our information age.

Revenue management system is people-oriented, and provides services for us by using computer technology and information resources. It can be said that it is a fusion of hotel customers, managers, information processing systems and information channels.

after the system collects and transmits information through relevant channels, the processing system processes, stores, updates and maintains it, and provides us with the required data and information. These data information are transmitted to customers after the decision of managers, and finally the customers choose whether to accept these data information, which embodies the perfect combination of manual and computer technology.

in particular, the emergence of mobile internet, big data and cloud technology provides a more convenient and reliable way for information transmission, and customers can obtain and use this information in the shortest time. Therefore, the effective combination of manual and computer not only greatly facilitates customers, but also meets the needs of this era. Because the consumption pattern of customers is changing with the coming of the information age.

to sum up, although we can't take whether the hotel uses the revenue management system as a prerequisite for revenue management, its important role in revenue management can't be ignored.

We are in the era of rapid development of information technology, and it is necessary to apply computer technology to collect, transmit, process, store and process this information. As an important medium connecting customers, direct distribution channels and front desk management system (PMS), hotel revenue management system can not only help hotel managers to improve their work efficiency and achieve good performance in revenue management, but also has great practical significance in enhancing the potential revenue of hotels. ;