Must-have BI tool features for hotel revenue managers

Revenue Management workflows need to be simplified in order to cut through the excess of data and find the insights that matter

Amidst escalating data complexity and diminishing resources, Revenue Managers face challenges in extracting actionable insights vital for business performance. Hotel BI involves collecting, analyzing, and comprehending data to inform revenue, sales, and distribution decisions.

Key takeaways

• Effective data integration stands as a vital aspect of a hotel BI solution, facilitating the amalgamation of data from diverse origins such as the Property Management System (PMS) and Revenue Management System (RMS) into a unified perspective;
• BI software must possess the capability to assess historical data and utilize statistical techniques to forecast at the granular level of individual market segments. This empowers users to formulate strategic decisions with heightened insights into demand prediction and annual budgeting;
• Consequently, this aids decision-making processes concerning pricing strategies, promotional endeavors, and other revenue-generating initiatives. Simultaneously, it fosters the development of personalized marketing, enhances operational efficiency, and furnishes a competitive edge.

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