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Duetto Content Team

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  • 4 min

Fine-tune your hotel forecast with big data | Duetto

📈 Utilizing historical data, competitor rates, event schedules, airlift, reviews, weather, and web-shopping behavior, hoteliers can forecast demand and optimize pricing. Cornell University found a 1-point increase in review scores enables an 11.2% price hike while maintaining occupancy. RMS systems like Duetto streamline this data integration for effective revenue management.
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  • 6 min

Drive profits with an Open Pricing strategy | Duetto

📋 Open Pricing allows variable pricing for room types based on demand, evolving from the fixed-modifier Best Available Rate (BAR) strategy of the 1990s. It enables numerous price points on a demand curve independent of BAR, allowing rates like $185, $186, $187, or $216. This strategy maintains open and selling channels during peak periods. Key steps include collaboration across departments, revisiting discount policies, adjusting marketing messages, staff training, pricing by demand, considering guest lifetime value, and keeping channels open. Automating the Open Pricing process with systems like Duetto can significantly increase revenue and efficiency.
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  • 3 min

Overcome budget nightmares with revenue technology | Duetto

💰 Forecasting and budgeting in revenue management are vital for setting hotel revenue goals. An accurate demand forecast is key for hotel budgeting, requiring historical, booking pace, and forward-looking metrics. Revenue management systems (RMS), like Duetto, can simplify this process by integrating data from various sources and generating forecasts and budgets quickly. RMS benefits include real-time data access, automatic forecast creation, data visualization, and scheduled reporting, leading to smarter cash flow management and efficiency in revenue operations.
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  • 2 min

Why adopting an RMS makes sense | Duetto

📄 An audit of Excel spreadsheets revealed that nearly 90% have serious errors, with an average cell error rate of 5.2%. Hotel revenue management is particularly sensitive to these errors, where one misplaced decimal or extra zero can significantly impact forecasts and pricing decisions. Adopting an automated, cloud-based revenue management system enhances real-time data analysis and strategic decisions, moving beyond just historical data to include web activity, weather, air traffic, and reviews.
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