Hotel Rate Management Made Easier with eZee's Cloud Solutions
To create the perfect pricing strategy that maintains the desired profit margins and growth, you require a tool which gives you the freedom to revise rates according to the changing scenarios. The tool gives you access to comprehensive market behavior analysis to efficiently manage hotel revenue and increase returns. In addition, the revenue management tool can even fetch competitor prices for comparison by which you can tweak your rates for maximum profit. To give you further edge in your pricing strategy, you can even compare previous year’s date to evaluate the Best Available Retail Rate (BAR).
Current Year vs Past Year Statistics
One of the most integral part of any business is to acknowledge the past ways and learn from the errors. Through our online booking system, you can easily view and compare all the important parameters of the current year's data with the data of the previous years. You can compare key parameters like the number of Total Rooms Sold, Occupancy Rate, Average Daily Rate(ADR), Revenue Per Available Room(RevPAR), Maximum and minimum offered rate in past year etc. As a result, you can analyze your current year's performance along with making an informed decision regarding the Best Available Rate (BAR) and accordingly increase/decrease room rate, enrich marketing plans or improve strategies.
To further enhance hotel revenue, you can also get the statistics for each rate plan you offer to get performance review about each room type.
How can the data be used?
The detailed performance statistics of the current and past year for the of RevPAR of your hotel gives you an opportunity to compare the highest and the lowest performance from both the years. Additionally, you can re-evaluate your room rates and marketing strategies for the current year helping to increase hotel revenue.
Being in a hospitality business, you are aware how fruitful a local tourist attraction or some famous festival and events can be for your hotel business. Especially during a well-known festival you can expect a significant hike in the room booking. Our booking system offers you a phenomenal tool for rate management, which will instruct you about all upcoming events in your area including conferences, exhibitions, concerts, parties, meet-ups, festivals etc.
How can it be used?
The rate management tool will notify you about any festival or grand event that can attract tourist to your city and suggest how much traffic can you expect at your property. You can make the most out of this opportunity by planning your rate strategies accordingly and enjoy maximum revenue.
Holidays and Weekend Indication
As weekends and holidays are considered as peak business time for most of the properties, eZee's online booking system notifies you about the upcoming weekends and holidays, aiding you to predict the amount of business expected during that time.
For instance, there is a long weekend coming up i.e. there is an official holiday on Monday or Friday meaning people will travel and book accommodation. The system will inform you about this situation, providing you ample time to update the hiked rates and limited availability and take advantage of this event.