Updated 17/04/2020: This post has been updated with latest Hotel Revenue Management Software for Small Hotels.
A premium-quality of hotel management software is inevitable when you are in the hospitality business and wish to reap maximum benefits from your venture. Revenue management is keeping a thorough count of your hotel’s fixed costs, perishable inventory, and demand levels. It is the calculation of demand prediction and pricing. In order to maximize revenues through analytics and breakdown of present data. It is vital for ensuring cost efficiency when you allot the right room to the right customer at times of peak demand through correct distribution channels. When you are able to make informed business decisions, you optimize your practices.
Looking for Hotel Management Software? Check out SoftwareSuggest’s list of the best Hotel Management Software solutions.
A Revenue Management System is a type of software that enables you to carry out all revenue management related processes quickly and efficiently. It extracts data through built-in algorithms and does a real-time analysis of the current market scenario to predict demand and generate perfect room rates. Automated hotel revenue management software systems combine all the back-office processes, which need individual systems like CRM software and uses built-in business intelligence to create accurate reports and generate real-time visibility.
It is really important that you invest in the right hotel revenue software because, otherwise, you are simply wasting your resources. You don’t even have an idea if you are providing the same customer experience when compared to your competitors. When it comes to revenue management software for small hotels, you need to use a personalized hotel management software. You don’t need to pay for extra features if you end up not even using them. You might need customized and automated hotel revenue management systems in order to manage additional aspects of your business.
So, check out our list of the best hotel management software for small hotels. Know about their primary features and choose the one that best fits your requirements.
6 Best Hotel Revenue Management Software for Small Hotels
LodgIQ is a cloud-based hotel revenue software for small hotels that has a single dashboard that displays all market intelligence and price suggestion numbers. It is equipped with smart alerts to generate real-time, accurate price recommendations. It analyzes factors such as supply and demand rates, room prices of competitors, historical trends, local events, etc. — to create optimized graphs, pricing grids, and reports. If you install this app on your smartphone, you can manage all the operations of your company on-the-go.
- Advanced revenue management technologies, such as inbuilt invoicing and billing software, which extract intelligent revenue insights through big data analysis.
- A unique, outside-in forecasting approach to determine room rates, supply and demand, flight and meteorological patterns, and local events.
- Revenue Management BI Capabilities to perform real-time analysis on performance metrics.
- Advanced machine learning and mathematical modeling tools to identify patterns and make informed decisions.
Aiosell, a fully-integrated and automated hotel revenue management system, is designed to integrate all the hotel management related activities on a single platform. With its capability to incorporate a plethora of features, such as review management, dynamic pricing, metasearch manager, booking via booking engines, and a one-click user-friendly website, it accelerates the hotel’s growth immensely. Thus, it leads to an increased rate of bookings and enhanced brand awareness.
With years of experience in this domain and a client base spread across 30+ cities, Aiosell ensures increased sales, reduced operational costs, improved occupancy, and better customer experience.
- Artificial Intelligence to set rates depending on the supply, demand, and competition
- A cloud-based property management system to ensure two-way connectivity
- A one-click website to navigation through information like amenities, images, and location
- An unprecedented integration of booking engine and pricing system to maximize bookings
- A detailed analytics to measure hotel performance, reputation, and reviews
Aiosell is offering a 1-month free trial for all its users.
RevParGuru is a cloud-based hotel revenue software that features an intuitive dashboard and an option to calculate real-time prices. It even gives forecasts, one year in advance. It uses data from the market, competitor rates, hotel occupancy, booking status, and booking window to arrive at the exact figures. There is also an autopilot mode that helps you set up special events in advance.
- A bundled and integrated hotel revenue software solution, which offers Revenue Yield Management, Channel Management, Rates Optimization, Competitive Pricing Engine, Page Positioning Optimization, GDS Distribution, and Inventory Control
- Customized Yield Dynamic Price Engine, which optimizes prices in a dynamic market, calculates real-time rates, and ensures rate parity.
- Updates hotel prices on leading travel websites
4. Maestro PMS
Maestro PMS is an automated hotel revenue management system that is specially designed for small properties. It is cloud-enabled and integrates 20 different modules in one central platform. You can use it to book reservations, carry out front desk tasks, sales-related activities, space and club management, and dining point of sales services. It enables hotel owners to control everything, using one dashboard.
You can install Maestro on your Windows device or host it in the cloud while taking advantage of its multiple benefits, which is advantageous for small hotels with different requirements. With excellent customer support and an integrated mobile housekeeping application and accounting software, it is one of the most popular hotel management software.
- 24×7 customer support from one centralized help center in North America
- Personalized guest experiences, accessible via mobile devices or API
- Can be installed in browser or Windows or on cloud mobile
- Can be deployed in independent hotels, small properties, and even luxury resorts
5. Hotel Scienz
Hotel Scienz is an affordable and automated hotel revenue management software that uses advanced algorithms, a user-friendly dashboard, easy-to-understand numbers, graphs, charts, and tables.
It can instantly analyze occupancy, average room rates, and revenues by comparing current market trends and past performances. Other benefits include records to pick up trends, booking pace, inventory status, pricing, and performance of up to 5 competitors.
- Affordable demand-based hotel revenue management software for small hotels
- Uses advanced algorithms to predict demand trends and is based on the best hotel industry practices and distribution experience, we created an easy to use hotel revenue management software for the hotel and hospitality industry
- Performance Dashboard with KPI’s
- A centralized revenue management dashboard, giving a clear view of the current and future sales trends via easy to read graphs, charts and tables.
- Real-time monthly revenue overview and annual budget comparison
- Annual market segment performance trends and daily Pick-Up Reports
- One-screen overview of key performance indicators, booking pace reports, inventory status, and competitor data
Opera Hotel Software is Oracle’s answer to hotel revenue management software for small hotels. This all-inclusive, scalable system arrives in three levels — Premium, Standard, and Lite. You can install it on your devices or host it on the cloud.
Its impressive features include profile management, accommodation management, housekeeping management, multi-property configuration, multi-language, and global currency support.
- Cloud-based, mobile-enabled platform, based on the leading enterprise solution, OPERA
- An intuitive user interface, combining all the features of hotel management
- Secure data storage
- Integration of hundreds of key partner interfaces
If you want more information on hotel software, here is our hotel management software guide.
So, what’s your favorite software for small hotels? Let us know in the comment section below.