Duetto Content Team

💸 Hotel revenue managers can save hours daily by automating repetitive tasks like data assembly and rate pushes using a revenue management system (RMS) and a "manage by exception" strategy. This approach allows prioritizing high-demand days for targeted pricing, marketing, and distribution strategies, potentially 365 days in advance, thus enhancing profitability and team collaboration.

📊 When choosing a Revenue Management System (RMS) for your business, key considerations include intelligent, scalable automation, instant innovation with cloud-based solutions (like Duetto), comprehensive and configurable data sets, enterprise strategy, and flexible reporting. Duetto's features enable controlled automation, use Open Pricing methodology, offer integration with multiple data sources, allow enterprise-level strategy setting, and provide flexible reporting structures. The article suggests defining feature priorities before searching for an RMS, and refers to Duetto's buyer's guide and demo options for further assistance.

📋 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.