Rate Yield Management
Boost revenue and maximize profits by automatically adjusting rates based on Occupancy
Automate rate changes to Front Desk, Website, and/or GDS and OTA Channels
In today’s fast paced online travel market, optimizing your rate management strategy to maximize revenue and increase occupancy has become increasingly important.
If your property isn’t taking full advantage of rate management, you could be missing out on increased revenue and occupancy. As a BookingCenter customer, you have access to automated Rate Management tools already built in your PMS system. 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
BookingCenter supports these Yield Management approaches
Yield Management Module
Our internal Yield Management Module allows 'Yield Rules' to be applied to selected channels (e.g. front desk, website, OTA, GDS, etc) and control 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.
Third Party Interfaces
Integrate your BookingCenter PMS with approved third-party 'revenue management' services via our API services like Excelerate. Contact us to learn more about the Excelerate approach and to learn more about how you can connect their revenue management product.
Manual Rate Changes
As a BookingCenter customer, you have access to automated Rate Management tools already built in your PMS system. You can easily make changes to % or $ adjustment to multiple rates or quickly change a daily rate. Using the Occupancy Report with our easy-to-use Rate tools, it's simple to make manual adjustments.
BookingCenter PMS Yield Management Module
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
How does the BookingCenter Yield Management Module work?
Using Yield Management in MyPMS is easy to implement and manage. Once you sign up, Yield Management is activated in MyPMS and is managed in your PMS. 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 first step is to create a Yield Profile in which you set occupancy and/or time rules to automatically adjust rates. There is no limit to the number of Yield Profiles you can set up and the Yield Profiles can overlap.
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.
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.
Pricing
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 assistance with setup) and a $30/mo fee for ongoing use and support.
Let us help you choose the right Interfaces and Modules for your system. Contact us today!
Compatible with: MyPMS| Channel Manager