( Latest versions: 1.8.3 Stable, compatible with Joomla 3.6.4+   &   0.8.3 Stable, compatible with WordPress 4+ )
×
Support Policy

We only provide official support for Solidres's subscribers, all subscribers can request support by using forum or support ticket system. For more information please check our Support Policy at www.solidres.com/support-policy

emo revenue management

  • dariomoreira99
  • dariomoreira99's Avatar Topic Author
  • Offline
  • FREE User
More
1 year 7 months ago #5853

Hi,

The hotels actually practice revenue management with tariffs . in this case day rate depends on the demand and not the day of the week or the date. For to do that is necessary that rates ( BAR RATE and NON REFUNDABLE RATE mostly, and NOT season rates )
would be settled per day with a calendar where to charge the rate for each day that you must manage to maximize the revenue.
As I see ,actually in SOLIDRES is not possible to do this,right?
Do you plan to do this in the near future?
Regards

Please Log in or Create an account to join the conversation.

More
1 year 7 months ago #5856

Hi,

Just to be clear, you are referring to an ability to set price per single day, not per day range?

Regards,

Please Log in or Create an account to join the conversation.

  • dariomoreira99
  • dariomoreira99's Avatar Topic Author
  • Offline
  • FREE User
More
1 year 7 months ago #5860

Hi ,

I don't undesrtand exactly what you mean per day range . What I mean is that is necessary to manage the rates everyday and also inventory depending on the demand so the rates change from one week to the other. I send you an attachement of what is necessary to have to manage rates and inventory to make revenue management in hotel industry.I hope to be clear ,if not just let me know.
Regards

Attachments:

Please Log in or Create an account to join the conversation.

More
1 year 7 months ago #5863

Hi,

Thank you for your screenshot, I got your point now.

At this moment, our Complex Tariff plugin allow you to enter price per week (from Mon to Sun, for tariff type Per room per night and Per person per night) and enter price per package (for tariff type Package per room and Package per person).

We are working on an update to Complex Tariff plugin, so that you can set the price for every day of your date range. For example if you create a new complex tariff from 01/06 to 31/07, Complex Tariff plugin will show 61 input boxes for you to enter the price for every day.

Regards,

Please Log in or Create an account to join the conversation.

  • dariomoreira99
  • dariomoreira99's Avatar Topic Author
  • Offline
  • FREE User
More
1 year 7 months ago #5867

Hi,

Those are great news . Obviously you are improving the system and in your roadmap is it directed to have a tool that aloud to practice revenue management . I want to let you know my thoughts about this issue witch I have strong knowledge:

1 - You should have in your raodmap to improve inventory management.Please double check the screenshot I sent you before and you can see how is easy to manage inventory from this panel and stopsales (limit booking for solidres).All from same panel.

2 - When you have a tool that aloud you to make revenue management the concept of "date range" changes .Is not the same as when you have fixed rates during seasons. When you manage the rates you no longer use "seasonal rates" .You only manage different levels of prices for each room that depends on the demand .For example you will have the "high season price" in your low season because some special event is happening in your neighborhood.
So tariffs will not differ on the season time ,but on the tariff policy : you will have the Best Available Rate ( free cancellation before x days arrival) or the Non Refundable Rate ( pay in advance and no cancellation aloud for example ) among others .You don't have any more the "summer rate " or "winter rate" but the BAR rates or the NRR rates for all year (many possible for each room each day depending on the demand) where one is % of the other rate but with different cancellation and payment policies .
In this case the "date range" is for all the time (HOTELS) or until you sign the contract with hotels ( HUB ) . But you will have "date ranges" where you should want to not use one for the rates ,for example : NRR will be available for :
01/01/15 to 24/06/15
30/06/15 to 30/09/15
15/09/15 to 31/12/15
3 - How to identify the BAR rate and the NRR easily for visitors? the most used way is to add the word "free cancellation" to the BAR rate .
I read that in your 0.8.0 upgrade :"Remove unused Room type fields “Free cancellation” and “Breakfast included”".
I strongly recommend to go back with this issue . Both things will be necessary when the tool will be ready to use as a revenue management booking engine . "Breakfast included " improve conversion .Is a must have.

I realize that you are engage in a great project and I hope that you can find some help in my comentaries to find the best way to make a great tool to acces to the top hotel industry.
Regards

Please Log in or Create an account to join the conversation.

More
2 months 2 weeks ago #8210

Yes information in this discussion is absolutely correct, revenue depends on customers demand, product availability. Hotel Channel Manager collects all the reservation and handle all the channels without any complications. Manage the revenue in good manner will take your business on top.

Please Log in or Create an account to join the conversation.

Moderators: solidres
Powered by Kunena Forum

All the things you need to make your work easier. Did you like Solidres?