The process of determining hotel room pricing used to be rather straightforward. You paid one rate during the week and a different one on the weekends. Seasonal pricing was another option. That isn't the situation now. It would be an understatement to say that managing hotel revenue has gotten increasingly difficult. Hence, an automated hotel revenue management system has emerged as a way to get rid of the issues.
The current situation with the hotel revenue management system
The landscape of hotel revenue management has undergone a significant transformation. The availability of numerous channels for the sale of rooms is one of the most noticeable. It's more challenging now because there are so many internet channels available, including your own website. You may start to see the difficulties involved with developing a hotel revenue strategy once you add in smart technology, a fiercely competitive sector, and the necessity to set your resort apart from others in the neighbourhood.
The shift in the hospitality sector regarding their revenue management system
During off-peak hours, the majority of hotels employ a wide variety of channels in an effort to reach a very large audience. Because booking through major channels, such as a branded website, is easier (and frequently more profitable), businesses frequently shut down those other methods during high season.
In some ways, this makes sense; however, because of the growth of the hotel revenue management industry, you're essentially wasting money. With open, dynamic pricing, you may independently set prices for all market segments, different types of accommodations, activities, and distribution methods. In contrast to the BAR technique, you may leave discounted deals available and only lose a little percentage of your revenue while giving potential visitors who might wish to stay at your resort more options. Visit the website of Price Point to know more about the automated revenue management system hotel.

Visit : https://pricepoint.co/