Hotel Yield Management Strategy: Price Monitoring within a 72 hour booking window

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50% of hotel revenue is booked within 72 hours of the stay date. That is why hotel management has often had full time employees act as a rate shopper to monitor the competition. Manual processes can lead to error and with hundreds of rate changes happening within 24 hours of the stay date, it is impossible to keep up with. Smart hotel management professionals enlist the help of software to solve this challenge. However, the price of this technology also leaves it out of reach for the smaller hotels.

Yield management is as much an art as a science. Without the latest hotel technology it is not possible to keep hotel revenue maximized, but many pieces of hotel software are complex and expensive. They can take days or even months to setup and configure. Oftentimes the software spends more time telling hotels about opportunities that have already been missed rather than telling them what they can do next. It is these industry issues that demand a technology solution that provides you proactive information at an affordable price.

Rate Shepherd is an automated rate shopper that takes the hassle out of manual rate shopping and helps hotel managers find their options in just a few minutes. Our latest feature RapidWatch is a critical tool for hotel management to have. RapidWatch gives hoteliers the ability to actively watch competitors during the current day’s booking window. It monitors key competitors real-time so that you don’t have to. When it sees them make a change it will notify hotel management via email so that they have the pricing information needed to make an intelligent decision. Better yet, it is affordable.

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