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What is YieldManagement? Yieldmanagement is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. A similar principle can apply to distribution.
Channel Management System Managing multiple OTAs, your website, and other channels manually? That’s a recipe for overbookings and lost revenue. A Channel Manager sends real-time rate changes to all websites, so everything remains in sync and visible. And not just from your hotel rooms?
We were able to increase RevPAR by more than 30% by executing yieldmanagement on the platform swiftly and accurately.” Adjust rates regularly: Use a revenue management system (RMS) to adjust rates dynamically based on local events, competitor pricing, and market trends to stay competitive.
When travelers book on your website, you can upsell them to premium rooms and cross-sell onsite services and add-ons like breakfast, dining, spa, and recreation. With a channel manager integrated with your reservation system, you can simultaneously update pricing and availability on all booking channels. Generate more revenue.
Resort revenue management has become an indispensable tool for businesses, fostering strategies that maximize yield and build strong customer relationships. The Cornerstones of Resort Revenue Management Resort revenue management , interchangeably used with yieldmanagement, revolves around a strategic pricing approach.
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