How The Pandemic Accelerated Revenue & Tech Trends | By Chris Crowley – Hospitality Net
People talk about the impact of COVID and the effect of COVID has been to accelerate trends and developments that already were already in play. And we’ve seen that a lot with our customers:
- The way that they look at the benchmarking of different rates and different seasons
- The way which they look at their competitor sets
- How they look at the price bandings that will they’re thinking about
- We’ve seen that the negotiated rate position has almost completely disappeared
- The particular move towards dynamic pricing and dynamic rate management continues to be coming for a while
Watch our latest Duetto Concepts Video on Flexible Revenue Management here: https://www.duettocloud.com/videos/flexible-revenue-management .
When you combine that with an Open Pricing methodology that allows the hotel to influence specific room types or specific guest types in line along with the strategy, rather than a very fixed forecast position, add that into very controllable automation so you can also drive routines plus an AI in a helpful way for the particular hotel position, then you have a much more flexible and agile environment for the hotel to come back into.
What we know from COVID is that the return is not going to be the fixed point. We know that in fact, demand will come in and out. It will be up plus down. Some markets will do better compared to others, then they will regress a bit. The months will affect also what happens.
Flexible Revenue Management
The ability to flexibly manage inventory in an open technique against a variable demand is key in order to the success of hotels as these people come back. And what coming from noticed within our last two years of sales especially, is that we are having the fantastic two years of client acquisition.
And one of the reasons for that is that our platform offers this very open approach for that hotelier to be able to work with the market, and a very interactive relationship between the hotelier and their own inventory, whether it’s in the single property or a multi-property perspective.
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Duetto delivers a suite of SaaS cloud applications for hospitality businesses to optimize every booking opportunity for the greatest overall revenue impact. The solution dramatically increases organizational efficiency, income, and profitability by simplifying hospitality revenue decisions and allowing properties to function smarter. The particular unique combination of hospitality experience and technology leadership drives Duetto to look for innovative solutions to industry challenges. The software as a service platform enables hotels, casinos and resorts to leverage real-time active data sources and actionable insights in to pricing plus demand across the enterprise. More than 4, 000 hotel and casino resort properties in more compared to 60 countries have partnered to use Duetto’s programs, which include GameChanger for prices, ScoreBoard for intelligent reporting, and BlockBuster for contracted-business optimization. Duetto is backed by investors Warburg Pincus, Icon Ventures, Accel Partners, Battery Ventures, and Spectrum 28.
In January 2022, Duetto was named the particular world’s #1 revenue administration system within the HotelTechAwards out associated with 52 RMS products reviewed and extensive end-user reviews. The Awards rank plus evaluate more than 200 of the top resort technology products worldwide in order to deliver the ultimate list of best-in-class software program products, based on customer feedback from more than 10, 500 customer evaluations, integration compatibility, organizational health, partner network strength, and customer support quality.
For more information, please visit https://www.duettocloud.com/ .