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Optimising your operations with RMS & Breezeway

Cloud vs. On-Premise PMS: Which is right for your property?

Fraud-proofing hospitality: what every operator needs to know

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How digital habits are reshaping hospitality

Elevating peak season profits: a comprehensive guide to strategic rate management

In the lead-up to peak season, hospitality operators find themselves at the forefront of a competitive landscape packed with opportunity. Successfully navigating rate management to maximise potential revenue during this period requires a clever combination of strategic approach and smart software. From custom room rates to powerful strategies to drive bookings, RMS provides revenue managers with the right tools to maximise occupancy and revenue during peak seasons. Creating Custom Room Rates The first step to effective rate management is building on and refining your standard rates with custom room rates. These use various factors to improve on standard room rates, benefitting botj the operator and guest. Custom rates enable operators to align their rates with diverse guest preferences, market conditions, and seasonal demands. Seasonal pricing strategies adapt to the annual ebb and flow of guests, factoring in demand during peak and off-peak times to maximise profit and reservations, respectively. Event-based pricing follows a similar model, tracking regional surges in demand during special occasions. Lastly, length-of-stay rates appeal to those seeking budget-friendly, extended accommodation, with the added benefit of encouraging guests with more flexible plans to stay longer than originally intended. Maximise revenue and reservations with Dynamic Pricing Dynamic rates are a revenue manager's best friend for maximising profits without lifting a finger. Revolutionising the traditional approach to hotel room pricing, this innovative strategy automates rate adjustments that reflect real-time demand, swiftly updating room prices to match. The beauty of Dynamic Rates lies in their agility and automation, as technology makes smart pricing decisions based on real data before implementing rate changes for you – completely eliminating the need for the manual labour and cognitive cartwheels that it would take to achieve without a robust Property Management System doing the hard work for you. By providing an effortless ability to fluctuate prices to maximise profits during high-demand periods, or attract reservations during slower periods by offering competitive rates, Dynamic Rates are your secret weapon to maximising revenue and reservations. Driving bookings with Derived Rates Derived rates serve as a dynamic force in driving bookings and optimising revenue. Unlike static rates which are set in advance based on factors above, dynamic rates these dynamically adjust based on real-time factors such as demand, occupancy levels, and market conditions. Let's explore how hospitality operators can leverage derived rates to their advantage: Strategies for Implementing Dynamic Derived Rates: Real-time demand analysis: Utilize data analytics to monitor real-time demand patterns, enabling you to adjust rates dynamically. Last-minute deals: Capitalize on last-minute bookings by offering dynamic discounts to fill vacant rooms. Package offerings: Bundle room reservations with additional services or amenities, creating attractive packages for guests. Best Practices for Peak Season Rate Management: Forecasting demand: Leverage historical data to anticipate peak season demand and strategically adjust rates in advance. Competitor analysis: Stay abreast of competitor pricing to position your rates competitively and attract a share of the market. Loyalty programs: Introduce loyalty programs with exclusive rates to encourage repeat business and enhance guest retention. Optimising revenue with technology: Embrace technology solutions such as Revenue Management Systems (RMS) to streamline and automate the rate management process. RMS empowers operators to make data-driven decisions, adjusting rates dynamically to ensure maximum revenue and occupancy. Mastering rate management during peak seasons is a nuanced art that requires operators to be agile, data-driven, and customer-centric. By embracing custom room rates and harnessing the power of dynamically derived rates, hospitality operators can unlock the full potential of their properties, driving bookings, maximizing revenue, and ensuring a prosperous peak season. As the peak season approaches, seize the opportunity to refine your rate management strategy and set the stage for success in the competitive hospitality arena. As the holiday season approaches, the hospitality industry gears up for a surge in bookings. The key to maximising profits during peak seasons lies in effective rate management. In this blog post, we'll explore how RMS (Rate Management System) can be your strategic ally, offering built-in features that will optimise revenue and drive bookings for a sold-out season. Take the Guesswork out of Revenue Management Setting the right room rates is crucial for ensuring maximum revenue. RMS makes this process an art rather than a gamble. Our experts are ready to guide you through the intricacies of revenue management with the help of Dynamic Pricing features. Dive into the world of intelligent pricing strategies by checking out our on-demand online training. Learn more in our Dynamic Pricing masterclass [Insert Link]. Your Quick Start Guide to Creating Custom Rates Sometimes, a refresher on rate management basics can make all the difference. Our Help Centre provides step-by-step instructions on the various types of rates available within RMS and how to set them up. Everyone can benefit from a quick review whether you're a seasoned professional or new to the game. Check out our guide on setting rates [Insert Link] for a seamless experience. Drive Bookings with Derived Rates Boost your bookings by exploring the versatility of derived rates. Whether it's accommodating walk-ins, enticing loyalty rewards, or running a holiday promotion, learn how to configure a range of derived rates to benefit both your guests and your bottom line. Explore the possibilities and get started with derived rates [Insert Link]. Need a Helping Hand? We've Got You Covered: Embarking on a journey to optimize your rate management strategy may seem overwhelming, but you're not alone. Our dedicated support team is ready to assist you. Reach out to us for guidance on RMS training opportunities. Our experts can help you navigate rate setup and customize configurations, ensuring your team is well-equipped to tackle the demands of the upcoming peak season. Log a service request or contact your local support team to learn more. In the competitive landscape of the hospitality industry, a well-crafted rate management strategy can be the game-changer for peak season success. With RMS and its powerful features, you can take control of your rates, drive bookings, and ultimately boost your profits. Don't wait until the last minute – start refining your rate management strategy today for a prosperous peak season ahead.

Partners & Integrations
RMS integrates with OpenKey to further enhance contactless check-ins

We’ve teamed up with OpenKey, the leading provider of digital key solutions, to allow our clients to implement a fully contactless check-in strategy. In conjunction with the guest portal, clients will now have the ability to add automated mobile keys to their digital check-in process when they connect to OpenKey through RMS' module market. "We’re dedicated to streamlining the check-in process to provide a more pleasant and efficient experience for hotel guests,” says Peter Ferris, Chief Sales and Marketing Officer at RMS. “We're excited to partner with OpenKey toward that end." With the OpenKey and RMS integration, properties simply need to locate the guest’s mobile number under their reservation and they can then send an encrypted digital key to their smartphone. "At OpenKey, our goal is to help hotels deliver a seamless guest experience while unburdening hotel staff via state-of-the-art technology," says Jacob Liggett, Vice President of Sales and Marketing at OpenKey. "We are thrilled to integrate with a leading reservation and property management technology company like RMS to bring elevated convenience to guests and hotel staff alike." As well as providing a contactless guest experience, this process also creates a faster, more efficient check-in, eliminating wait times and creating a smooth guest transition as they can instantly head to their room on arrival. On top of that, RMS and OpenKey work in tandem within the PMS system, meaning there is no need to switch between platforms, making it a smarter workflow for staff. To find out more about OpenKey, you can check out their website which includes a video of how the digital key works.

Partners & Integrations
RMS Cloud partners with OTA Insight to enhance properties’ business performance

RMS Cloud has announced a partnership with OTA Insight, the cloud-based data intelligence platform for the hospitality industry. Integrating RMS Cloud’s PMS with OTA Insight’s leading business intelligence solution, Revenue Insight, will give hospitality operators access to practical insights via a user-friendly dashboard to help them make data-driven business decisions. This eliminates the need to compile data and analyse it manually, instead offering a streamlined solution to help improve their performance and pricing strategy. “The integration with OTA Insight has come at an opportune moment, as many properties are struggling to make sense of their data to make smart revenue and business decisions, following the impact of COVID,” says Peter Ferris, Chief Sales and Marketing Officer at RMS Cloud. “Being able to seamlessly compare revenue data from their PMS platform against market intelligence provided by OTA Insight's Revenue Insight tool will remove the barrier many managers face when having to identify and analyse data manually. Combined with the revenue-generating tools in RMS Cloud, properties will have a much stronger, smarter and streamlined solution for generating the best possible price points.” “Revenue Insight is proving to be the ideal business intelligence tool for integration with the industry’s leading PMS suppliers, therefore it’s brilliant to be partnering with RMS Cloud, an innovator in hotel tech, with a significant footprint across Australia, New Zealand and Asia-Pacific,” says Sean Fitzpatrick, CEO at OTA Insight. “Having recently been awarded number one business intelligence software by HotelTechReport for 2021, we’re confident that joint customers of Revenue Insight and RMS Cloud will be receiving the very best business and revenue insights.” With historical data becoming more and more redundant for effective revenue management forecasting, this integration will greatly benefit operators in better predicting demand and identifying market trends. Enhanced intelligence with RMS’ 360° reporting tool, will enable operators to expand and collapse report summaries to view granular data, further streamlining the process.

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