Software Helping to Set Hotel Room Rates Put to the Test During the Pandemic – Skift - 0 views
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hankunli on 30 Jul 20The special situation has put revenue management to a test. Some of the users did not feel significant help, but others have insisted that the software was helpful. Related to the changes to hotels in the pandemic, their competitive set may also change and they should reconsider the prices. To adjust the prices, better use of the software in hand is recommended. It also requires human and software to analyze the signals together. On the vendors' side, they also need to tune up their software. Some of them made their software to concern more on recent data, and some of them made it able to turn down the autopilot of the software to suit different needs. Some hotels keep investing in technology innovation despite the tight budget, even pressed ahead during the worst time. Staffing adjustments and layoffs also made them more preferring to use software and external consultants. But during this special time, smaller properties may succeed more by using new technologies. In sum, despite the huge decrease in revenue, hotels are trying to grab the maximum money they can gain.