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RateWise RMS Presentation

Michael Walsh
Michael Walsh

This document describes a rate management solution called Rate Wise that helps hotel managers maximize revenue by ensuring optimal rates. It discusses how having too few or too many rates can hurt revenue. Rate Wise uses rules about occupancy, lead time, day of week, and time of year to determine rates across 400 possible combinations. Compared to manual rate setting, Rate Wise allows for more frequent rate updates focused on long-term revenue, reduces errors, and saves staff time, leading to increased revenue, improved productivity and reduced costs.

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RateWise RMS Presentation
Our Mission Create IT That Delivers Increased Revenue Improved Staff Productivity Reduced Costs
A Rate Management Solution To Help Hotel Managers Maximise Revenue By Ensuring Optimum Rates at all times Rate Wise
Too High - Wont Sell Too Low - May sell but reduced ADR/RevPAR Too Few - Inflexible Too Many - Difficult to manage Too Seldom - Not appropriate Why have Managed Rates?
If you sell 20 Rooms x 20 cheaper than what they should have been sold at for one night = 400 Lost Revenue If your rate was 20 more expensive than what it should have been and you have lost the sale of 20 bedrooms? 20 rooms x 80 [ADR] = 1,600 lost Revenue Are You Losing Revenue?
Not to mention Season, Special Events, Competition Lead-time? 6 months Day of the week? Thursday 70 % Occupancy? <40% Lead-time ? <1 week Day of the week? Saturday 130 % Occupancy? 90%-100% Rule Band Resulting Rate How Rates Are Decided
% Occupancy <40%, <60%, <80%, <90% ,<100% Lead Time <2 weeks, <1 month, <3 months, <6 months Day Of The Week Mon-Tues, Wed-Thurs, Fri-Sat , Sun Time Of The Year Jan- April, May-June, July-Aug, Sep-Oct, Nov-Dec 5*4*4*5 = 400 possible combinations for any day??? How many Factors & Bands?
Key staff spending considerable time reviewing and updating rates Unnecessary Rate Changes No time to look further out than 3 months Manual procedures encourage Human error Common Issues
Errors picked up when it is too late Short-term focus may mean ignoring long term No Real-time feedback on changes Other Issues
As flexible as you need it to be No more juggling with reports, spread sheets etc. Ensures Optimum rates being sold at all times. Significant savings on staff costs allowing daily rate updates. Direct interface to CMS. Occupancy Report + Your Rules = Better Rates Why Rate Wise?
Override facility for special events e.g. Concerts Consistent methods (e.g. while on leave) Instant information on pickup, occupancy levels , A.R.R and RevPAR Centralised Revenue Management possible As easy for 18 months as 3 months Eliminate Rate Change errors Why Rate Wise ?
Simple Workflow
Some Of Our Clients The Burlington Hotel Crowne Plaza Group Dromoland Castle Hayfield Manor
Some Of Our Clients Clontarf Castle Hotel Cork International Airport Hotel Doyle Collection Holiday Inn Express, Dublin Airport
Rate Wise Gives You : More rate movement / flexibility => Higher ADR A more structured approach More frequent rate updates Rate setting for further out More Time: To Review Rate Rules and Pickups To Focus on Competition To Manage 3rd Party Websites For Online Marketing / SEO Leading To: Increased Revenue Improved Staff Productivity Reduced Costs Summary

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RateWise RMS Presentation

  • 2. Our Mission Create IT That Delivers Increased Revenue Improved Staff Productivity Reduced Costs
  • 3. A Rate Management Solution To Help Hotel Managers Maximise Revenue By Ensuring Optimum Rates at all times Rate Wise
  • 4. Too High - Wont Sell Too Low - May sell but reduced ADR/RevPAR Too Few - Inflexible Too Many - Difficult to manage Too Seldom - Not appropriate Why have Managed Rates?
  • 5. If you sell 20 Rooms x 20 cheaper than what they should have been sold at for one night = 400 Lost Revenue If your rate was 20 more expensive than what it should have been and you have lost the sale of 20 bedrooms? 20 rooms x 80 [ADR] = 1,600 lost Revenue Are You Losing Revenue?
  • 6. Not to mention Season, Special Events, Competition Lead-time? 6 months Day of the week? Thursday 70 % Occupancy? <40% Lead-time ? <1 week Day of the week? Saturday 130 % Occupancy? 90%-100% Rule Band Resulting Rate How Rates Are Decided
  • 7. % Occupancy <40%, <60%, <80%, <90% ,<100% Lead Time <2 weeks, <1 month, <3 months, <6 months Day Of The Week Mon-Tues, Wed-Thurs, Fri-Sat , Sun Time Of The Year Jan- April, May-June, July-Aug, Sep-Oct, Nov-Dec 5*4*4*5 = 400 possible combinations for any day??? How many Factors & Bands?
  • 8. Key staff spending considerable time reviewing and updating rates Unnecessary Rate Changes No time to look further out than 3 months Manual procedures encourage Human error Common Issues
  • 9. Errors picked up when it is too late Short-term focus may mean ignoring long term No Real-time feedback on changes Other Issues
  • 10. As flexible as you need it to be No more juggling with reports, spread sheets etc. Ensures Optimum rates being sold at all times. Significant savings on staff costs allowing daily rate updates. Direct interface to CMS. Occupancy Report + Your Rules = Better Rates Why Rate Wise?
  • 11. Override facility for special events e.g. Concerts Consistent methods (e.g. while on leave) Instant information on pickup, occupancy levels , A.R.R and RevPAR Centralised Revenue Management possible As easy for 18 months as 3 months Eliminate Rate Change errors Why Rate Wise ?
  • 13. Some Of Our Clients The Burlington Hotel Crowne Plaza Group Dromoland Castle Hayfield Manor
  • 14. Some Of Our Clients Clontarf Castle Hotel Cork International Airport Hotel Doyle Collection Holiday Inn Express, Dublin Airport
  • 15. Rate Wise Gives You : More rate movement / flexibility => Higher ADR A more structured approach More frequent rate updates Rate setting for further out More Time: To Review Rate Rules and Pickups To Focus on Competition To Manage 3rd Party Websites For Online Marketing / SEO Leading To: Increased Revenue Improved Staff Productivity Reduced Costs Summary