Considering adopting a revenue management system (RMS) for your hotel business? Keep on top of what’s happening in the market with our future predictions for 2022-2023 and the trends that we think will shape the RMS landscape in the year ahead.

RMS Trends 2022-2023

Personalization

An RMS, working with other pieces of the tech stack puzzle, is designed to do just that. Guest-centric revenue management, with buzzwords today like ABS (attribute-based selling) or customer lifetime value pricing, are not new concepts. For example, rate management tools contain pre-arrival upsell capabilities and hence are closely tied together with the RMS with real-time integration imperative to provide commercial teams with direct access into the rates and availability database. Pre-arrival room upgrades and add-on offers are designed to maximize revenue by incorporating the sales process into the guest arrival experience. By using predictive analytics to better understand our guests’ buying preferences, we can tailor an offer that will increase their likelihood to buy and thus maximize revenue.

Connected Commercial Strategy

Revenue management is moving toward integration, not separation of disciplines, and it is demanding greater breadth and depth in the background and capabilities of its leaders and systems. Over the past decade, revenue management evolved into revenue strategy and over the past couple of years, it further evolved into commercial strategy. Commercial strategy teams were formed out of necessity during the pandemic, primarily as a downsizing exercise. But a positive outcome is that this forced revenue management teams to explore better ways of collaborating with traditional sales and marketing colleagues. Now, most hospitality companies have combined these disciplines on the org chart, as well as implementing integrated system workflows.

Total Asset Optimization

Today, the hospitality industry is increasingly focused on total asset optimization – merging principles of the two disciplines into one to reach the next level of driving sustainable growth. Total asset optimization breaks down these often-siloed disciplines so they have access to the same data, are aligned on goals, and are ultimately collaboratively focused on profitability. The revenue manager’s role in influencing RevPAR impacts the entire asset lifecycle for a property beginning with the preparation of the feasibility business case for developing/converting it and ending with the final disposal. This focus on the owner journey roadmap will ensure revenue management technology involvement from new construction or conversion to divestiture or asset exit strategy, reducing or even eliminating spreadsheet utilization for asset value optimization.

Naturally, we think Duetto is the best RMS on the market. But don’t take our word for it. We were voted the #1 revenue management system (RMS) in the 2022 HotelTechAwards, a user-based awards system that rewards based on customer feedback, integration compatibility, organizational health, partner network strength, and customer support quality.

Find out more about selecting your next RMS in HotelTechReport’s The Ultimate Guide to Revenue Management Systems. Download for free today.

About Duetto

Duetto delivers a suite of SaaS cloud applications for hospitality businesses to optimize every booking opportunity for the greatest overall revenue impact. The solution dramatically increases organizational efficiency, revenue, and profitability by simplifying hospitality revenue decisions and allowing properties to work smarter. The unique combination of hospitality experience and technology leadership drives Duetto to look for innovative solutions to industry challenges. The software as a service platform allows hotels, casinos and resorts to leverage real-time dynamic data sources and actionable insights into pricing and demand across the enterprise. More than 4,000 hotel and casino resort properties in more than 60 countries have partnered to use Duetto's applications, which include GameChanger for pricing, ScoreBoard for intelligent reporting, and BlockBuster for contracted-business optimization. Duetto is backed by investors Warburg Pincus, Icon Ventures, Accel Partners, Battery Ventures, and Spectrum 28.

In January 2022, Duetto was named the world's #1 revenue management system in the HotelTechAwards out of 52 RMS products reviewed and extensive end-user reviews. The Awards rank and evaluate more than 200 of the top hotel technology products worldwide to deliver the ultimate list of best-in-class software products, based on customer feedback from more than 10,000 customer reviews, integration compatibility, organizational health, partner network strength, and customer support quality.

For more information, please visit https://www.duettocloud.com/.

Sarah McCay Tams
Director of Content, EMEA

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