What is Yield Management?
Yield Management is a variable pricing strategy based on influencing and anticipating consumer behaviour. The purpose is to maximise revenue and profit by selling rooms for the best price at the best time. This involves automatically increasing and decreasing prices based on rules linked to time and availability.
Yield Management & Your Hotel
Our user-friendly Yield Management feature enables you to set rules within RoomRaccoon to determine how prices are adjusted when specific set of circumstances are met. Yield Management isn’t just for big hotels and it doesn’t have to be complicated. It may be as simple as a single rule to reduce the price of your rooms if you have more than say, 40% remaining 3 days before arrival. Equally, you can build out layers of inter-dependent rules subtly adjusting prices with the passing of time based on progressive changes in availability.
RoomRaccoon was made by hoteliers for hoteliers. It is imperative that we provide hotels with the best suite of tools to run their business. Sometimes we integrate with third parties like Xero or Lightspeed to connect directly to your PMS. Whilst there are some great dedicated Yield Management applications out there, they can often be prohibitively expensive for independent hoteliers. That is why we made the decision to build our Yield Management functionality and make it available to all of our customers free of charge.
All-in-one Hotel Software
In addition to our Yield Management function, RoomRaccoon’s cloud hotel software also includes a Property Management System, a Channel Manager and a Booking Engine. We are the leading system for Independent Hotels, B&B’s and Serviced Apartments and one of the fastest growing solutions across the globe.
We appreciate the thought of moving systems can be a daunting one. We are here to make that process as easy as possible. We have helped hundreds and hundreds of hotels make the move to RoomRaccoon seamlessly. We can help you setup your account, import your data and provide first-rate training to your team.