Boost revenue and maximize profits by automating rates based on Occupancy and/or Time to Arrival
In today’s fast paced online travel market, optimizing rates to maximize revenue and increase occupancy has become increasingly important. BookingCenter has simple tools to automate this – inexpensively and simply.
As a BookingCenter customer, you have access to automated Yield and Rate Management tools built into your PMS. The Yield Management module is a powerful tool that gives you the ability to automatically change rates based on key factors like occupancy, date range or a combination of both. Learn More.
Our Yield Management Module automates your 'Yield Rules' to your selected channels (e.g. front desk PMS, website, OTA, GDS, etc) and controls price changes by Time and/or Occupancy. Flexible and easy rate tools let you control inventory by allocating the right capacity at the right price to maximize revenue or yield.
Will occupancy events be based on the entire Site occupancy, ie all Rooms added together and then occupancy/vacancy analyzed by the entire inventory of the Site? Or do you prefer Room Type occupancy, which applies occupancy analysis to only selected Room Types? The choice is yours.
BookingCenter developed Yield Sheets from more than 20 years listening to customers desires to automating rates. Our Yield Sheets enable easy 'Occupancy' and 'Days to Arrival' management to automate rate changes. As simple as clicking a button, and inexpensive to automate. Never leave a room un-sold at the net income you need.
Compatible with: MyPMS| Channel Manager
Using Yield Management in MyPMS is easy to implement and manage. And, our staff assists with helping you achieve your ‘yield’ goals. Yield Management lets you choose the best way to automate rate changes and gives you the flexibility to choose which rate plans to “yield” in specific channels.
The two approaches we use are:
Example of an aggressive Yield Strategy
The sample below is an aggressive approach to yield management leveraging our easy-to-use Yield Sheets. This model shows red numbers as a negative (decrease) in rates looking to book travelers close to arrival when occupancy is low (vacancy is high) to fill in your property during a low demand time. This becomes a negative ‘adjustment’ to your rates (either a flat amount or a percentage discount, you decide) offering a discount during what is a slow period for you. The black numbers are a positive (increase) automated when demand is high and is thus adding $$ to your rates automatically. This type of automation is perfect – as well as inexpensive and simple – for most properties.
The automated Yield Management Module is a powerful tool. The BookingCenter support staff will assist with setup and deployment.
The Yield Management Module is an OPTIONAL module to MyPMS or Channel Manager customers. It can be purchased for a one-time fee of $300 (this includes training) and a $30/mo fee for ongoing use and support.
The sample above is an aggressive approach to yield management easily managed using Yield Sheets. This model shows red numbers negatively adjusting (decrease) rates to book travelers close to arrival when occupancy is low (vacancy is high) to fill in your property during a low demand time. This becomes a negative ‘adjustment’ to your rates (either a flat amount or a percentage discount, you decide) offering a discount during what is a slow period for you. The black numbers are a positive (increase) automated when demand is high and is thus adding $$ to your rates automatically. This type of automation is perfect – as well as inexpensive and simple – for most properties.
For properties that wish to make a Yield Management goal for only a very specific series of dates, or goals, then manually creating Yield Rules may be best.
Create a Yield Profile using Occupancy, Date range, or a combination of both. For example,
An Occupancy Yield Profile could be used to: Raise rates by 10% when occupancy is above 80%.
Lower rates by 10% when occupancy is below 20%
Offer a discounted Rate for bookings made 60 Days in advance.
There is no limit to the number of Yield Rules you can set up.
Enable the Yield Profile for specific rate plans and to individual channels.
Easily view how Yielded rates are affecting your Agent Channels with a ‘Yield Grid’ that allows you to see how rates are being set, per Agent Channel, based on a calendar view. This tool, visually shows how rates are being affected to each Agent Channel
The MyPMS Yield Management Module lets you automate rate changes to the Front Desk, Website, and/or GDS and OTA Channels based on predefined dates (such as 7 or 30 days prior to arrival) and occupancy patterns (occupancy is > or < than a defined amount per property or per Room type).
Many hotels face fluctuating demand patterns varying by season, days of week, etc. Yield management can be used to manage fluctuations by increasimg occupancy during slow times (by decreasing price) and by increasing revenue during busy times (by increasing price).
Flexible and easy rate management lets you control inventory by allocating the right capacity at the right price so as to maximize revenue or yield.
Adding Yield Management to your MyPMS property management system can increase revenue and take much of the guesswork out of rate management decisions