eRevMax Launches Revenue Management Tool

eRevMax, a provider of online channel management technologies, has launched its revenue management tool RTStrategy to assist hoteliers with determining optimal rates for all distribution outlets to further automate channel management.

RTStrategy will support hoteliers in calculating the optimal room rates and/ or position on a daily basis for all connected distribution channels. It will simplify yield and price management eliminating lengthy and complicated daily rate calculations. RTStrategy consolidates competitor rates and ranking information to recommend optimal rates with the help of previously selected revenue strategies. Hoteliers will have the ability to review automated rates with three options: 1) Automatically update all channels/ room types with the recommend rates or 2) Edit recommend rates/ positions manually or 3) Easily select another strategy to access rate and market penetration impacts. Once hoteliers feel comfortable with proposed rates, the system will automatically manage distribution channel updates, sparing manual intervention.

RTStrategy has five strategy options available to provide maximum pricing flexibility: Position, Relative Position, Occupancy, Parity and Lowest Rate Guarantee (LRG). The strategies are built around the needs and requirements of hoteliers to meet daily business conditions.

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“This is a complete package for hoteliers seeking to optimise third-party distribution channels as well as their direct business,” said Andrew Morsi, founder and CEO, eRevMax. “The comprehensive software is a strategic resource for hoteliers based on five commonly used strategies. Hoteliers no longer need to worry about number-crunching every day. Instead, revenue can be put in the hands of technology so customer service can remain a priority, especially in times where those relationships should be nurtured.”

The redesigned ‘Hot Date’ feature, already part of other RateTiger products, is now allowing users to define different strategies for different date ranges dependent on high or low demand dates (e.g. trade shows, fairs, holidays, conventions). The user-friendly calendar acts as a dashboard alerting hoteliers to changes should they not have used the revenue management tool to assess optimal rates for a longer period of time.

“We believe this tool will help hoteliers manage their strongest and weakest periods to maximise not just on occupancy, but also on rates,” Morsi continues. “Rate calculations will be quicker and hoteliers will have the opportunity to focus on other critical business areas.”

RTStrategy will also include various other innovations, for example, an allocation pool to automatically position inventory to successful sales channels based on preset parameters.