Predictive Minds is a fully-automated revenue management system. To put it simply, it analyzes property performance 24/7 and pushes back optimal prices to PMS and OTAs. In doing so, it is capable of increasing RevPAR over 19% on average.
REVENUE MANAGEMENT
The Only Revenue Management Service That Enables Hoteliers To Capture Dynamic Demand, Increase Efficiency, And Be More Agile.
REAL-TIME DYNAMIC PRICING
Use precise AI-based price recomme-ndations to optimize prices after every single availability change.
ALREADY INTEGRATE WITH PMS
It’s a plug-n-play. It automatically connects to PMS and channel managers, analyzes performance & pushes back prices to OTAs.
COMPETITOR RATE SHOPPER
Our scrapper constantly shops competitive position in the marketplace and updates the system as per the market movement.
WELCOME TO THE MODERN WAY OF REVENUE MANAGEMENT
Learn how to out-market and out-maneuver your competitors with AI system that analyze data to drive Action & Win Market Share
Revenue management is a strategy used by the hospitality industry to maximize revenue and profitability by optimizing pricing, inventory, and distribution strategies. It involves analyzing data on consumer behavior, market trends, and other factors to make informed decisions about pricing, availability, and distribution of hotel rooms and other hospitality products and services.
Revenue management involves a combination of tactics, including dynamic pricing, inventory management, and channel management.
The goal of revenue management in the hospitality industry is to maximize revenue and profitability by optimizing pricing, inventory, and distribution strategies. By analyzing data on consumer behavior, market trends, and other factors, businesses can make informed decisions about pricing, availability, and distribution of hotel rooms and other hospitality products and services.
There are several challenges associated with revenue management in the hospitality industry, such as the need to balance price optimization with maintaining customer satisfaction and loyalty. Businesses must also consider the impact of revenue management on their brand reputation and customer relationships.
Overall, revenue management is an essential strategy for the hospitality industry to optimize revenue and profitability in a constantly evolving market. By leveraging data and analytics, businesses can make informed decisions about pricing, inventory, and distribution strategies and achieve greater profitability while maintaining customer satisfaction and loyalty
Dynamic pricing is a strategy used by many industries, including the hospitality industry, to adjust prices based on market demand and other factors such as seasonal trends, competitor pricing, and consumer behavior. In the context of hospitality, dynamic pricing involves changing room rates based on factors such as occupancy rates, day of the week, special events, and more.
Dynamic pricing can be a powerful tool for hotels to maximize revenue and profitability. By adjusting prices in real-time based on demand, businesses can optimize occupancy levels and increase revenue per available room (RevPAR). Dynamic pricing can also help businesses stay competitive by responding quickly to market changes and adjusting prices accordingly.
There are several challenges associated with dynamic pricing in the hospitality industry, such as the need to balance price optimization with maintaining customer satisfaction and loyalty. It is essential for businesses to use data-driven insights to ensure that pricing decisions align with customer preferences and market trends. Additionally, businesses must be transparent about their pricing strategies to avoid customer mistrust and negative feedback.
Overall, dynamic pricing can be a powerful strategy for hospitality businesses looking to optimize revenue and stay competitive in a constantly evolving market. By leveraging data and analytics, businesses can make informed pricing decisions and achieve greater profitability while maintaining customer satisfaction and loyalty.
A sophisticated revenue management system automates your pricing modifications. Allowing software to optimize and handle pricing modifications in real-time ensures that you always sell at the best price and maximizes your hotel income.
You won’t have to manually enter figures into excel spreadsheets or report systems if you automate your revenue management strategies. This frees up time for hoteliers to think more strategically and tactically about their hotel’s market positioning.
A Revenue Management System reduces man-hours since it nearly never requires human input. Apart from placing your hotel on the market, simplifying manual workflow can save you several hours each month, giving you more time to engage with your employees on the floor and enhance guest-facing contact.
Most RMS software offers an integrated competitor rates capability that allows you to quickly compare room prices for nearby hotels or hotels of comparable size. This feature is helpful since it will enable you to take a more strategic approach to your own pricing after better understanding your rivals’ prices.