What is the function of hotel revenue management system?

What is the function of hotel revenue management system?

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

It can provide the hotel managers with competitors' information and relevant analysis reports in time, so as to know yourself and know yourself.

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

It is not easy for hotels to collect competitor information. At present, in addition to some price information available through distribution channels, room occupancy rate, average house price, market segments and other information are generally difficult to obtain.

In order to enhance product functions and improve market competitiveness, 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 similar to 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 laid the foundation for the hotel to realize comprehensive management informationization.

Realizing total management informatization is an important means of contemporary hotel management. In the past, in the era away from computers, from the beginning of customer reservation, the reservation department staff had to record the 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 a customer spends money in a 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 pass on every customer's consumption record 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 just count the annual consumption records of a customer. At that time, every piece of customer's consumption information was recorded by practitioners with pen and paper; 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 computer management in front desk management, sales management, catering management, guest room management, entertainment management and financial management, revenue management, as a discipline integrating operational research, marketing, management and other theories, needs to use computers to replace labor.

Only by supplementing the revenue management system can the hotel move forward and fully realize the management informationization. Otherwise, it can be said that there is a lack of comprehensive management informatization. Revenue management system, as an important medium connecting customers, direct sales channels and hotel front desk management system (PMS), plays an important role in the construction of the whole hotel management information system.

Can be engaged in complex and numerous data operations, reduce manual labor, save labor time and improve work efficiency.

One of the core contents of revenue management is to predict the market demand in a certain period in the future. In order to make a good prediction, we must first collect, summarize and sort out the historical data of guests, then choose the appropriate 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 historical data and engaging in complex mathematical operations, and sometimes it took a day or even longer to get a prediction result. In addition, the accuracy of manual prediction is generally low, which will restrict the improvement of hotel income.

Because revenue management depends on an accurate forecast to a great extent, accurate forecast can make the reservation system more efficient and help managers optimize the allocation of existing room stock more accurately.

With the help of computer technology, the revenue management system automatically obtains and sorts out the required customer historical data through the connection with the hotel front desk management system (PMS), and calculates the complex and diverse data through the forecasting model established in the system, which can calculate the forecast results required by managers in a very short time, freeing managers from heavy data calculation and making them more energetic to engage in market analysis, operation and decision-making.

It can solve the technical problems that are difficult to realize manually, and realize the functions of price optimization, dynamic pricing, capacity control and so on.

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 for operation, such as demand function model and regression analysis model.

However, the data operation using these models generally needs the help of computers, and it is difficult to achieve it completely by manual operation.

For another example, dynamic pricing requires house prices to change with the fluctuation of market demand, which is usually frequent, even several times or even dozens of times in different time periods every day, while dynamic pricing requires house prices to change accordingly with the fluctuation of market demand.

It is not difficult to understand that the dynamic changes of house prices at different times of the day are almost unrealistic through manual operation, because manual calculation of prices will lag far behind the fluctuations of market demand.

Capacity control refers to the effective allocation of existing rooms. 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, combination and nested control, and nonlinear relationship demand curve. These complicated mathematical operations with randomness are irreplaceable by manpower and need to be completed by 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.

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

After the system collects and transmits information through relevant channels, it is processed, stored, updated and maintained by the processing system to provide us with the required data and information. These data information are transmitted to customers through 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 labor and computer not only greatly facilitates customers, but also meets the needs of this era. Because with the advent of the information age, customers' consumption patterns are changing.

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 not be ignored.

We are in the era of rapid development of information technology, and it is necessary to collect, transmit, process, store and process this information by using computer technology. Hotel revenue management system, as an important medium connecting customers, direct sales channels and front desk management system, can not only help hotel managers to improve their work efficiency and achieve good revenue management performance, but also has important practical significance to enhance the hotel's potential revenue.

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