A Revenue Management System or RMS is the software tool used for revenue management, which in the case of tourist apartments is basically price and availability management.
By price we refer both to the specific price set for that day and to what is related to rates and different conditions of the final price for the guest: promotions, extra guest cost, cancellation policy...
By availability we refer fundamentally to what in the sector we call "calendar opening", its dynamic management and above all, the minimum stay.
Broadly speaking, our software (RMS) consists of a cloud platform that monitors in real time the different variables that affect the optimal construction of price and availability.
Specifically, for each of our client's properties we monitor in real time:
- the current occupation in the area of the property
- the prices at which similar properties have been rented up to now
- the prices at which similar properties are currently being offered
But we have two secret sauces...
Our first secret sauce: From the first data set (current occupancy), using historical series that we have been storing, we are able to project the real occupancy that will be in the area on the date of check-in. We apply Azure Machine Learning tools to these large amounts of data that we are collecting to be able to build models with a minimum margin of error.
And the second: we continuously monitor the position of our client's ad on the results pages of Airbnb and Booking.
Having all this information with a high level of detail and continuously updated, we apply already proven strategies. These strategies are different for each city and are parameterized according to the seasonality and evolution of the lead time in the area of application.
Then, we evaluate which is the most appropriate strategy for the area and property of our client and we adapt it by parameterizing it property by property.
And finally, we accompany the execution of these strategies with continuous monitoring of the property's performance by the revenue manager responsible for our client's account.
With this way of working we are easily achieving improvements of more than 20% in the revenue of our clients.
Book a Call with Us
Select a date & time of your convenience in our calendar
Short Interview
We ask you about your current situation to analyse the hidden potential
Get a Proposal
We will send you a non-binding proposal to support your growth