By Justin Thareja on March 12, 2013 at 3:29 AM
Online hotel management software company Frontdesk Anywhere has revealed it is offering Yield Management software that monitors and automatically updates room rates according to availability and demand.
SAN FRANCISCO, CA. - As the economy and travel sector rebounds, opportunity is at hand for operators to increase efficiency and boost income by using the latest revenue and yield management tools. This latest innovation from Frontdesk Anywhere is yet another example of how this all-in-one web based property management system is boosting revenues while streamlining operations.
Frontdesk Anywhere's newly announced yield management software automatically updates room rates to reflect availability and demand making sure you always get the most for your product. "We place great emphasis on listening to our customers and addressing their needs. We understood the pain involved in having to constantly monitor and manage inventory across multiple distribution channels, so we created the FDx Channel Manager. That solved the inventory distribution problem so now we've taken it one step further. By incorporating yield management into Frontdesk Anywhere we are now, not only maximizing our customers online exposure and sales without increasing their labour costs but we are doing so in a way that is maximizing the yield on each and every room" said co-founder of the Frontdesk Anywhere hotel management software Joe Kiernan.
"For example, if 80 per cent of the rooms in a hotel have already been booked and we are still 2 weeks out from that given weekend, Frontdesk Anywhere, if required, can automatically up the rates not just at the property level but across all distribution channels to reflect that increased demand. This has the effect of freeing up managers and staff from some of their more mundane time intensive tasks to focus on the most important aspect of hoteliering, managing the guest experience"
Across the industry, hoteliers are finding that Technology is creating more and more ways to improve efficiency. When it comes to yield management, they are beginning to see the benefits of strategies that have revolutionized other industries. Mr Kiernan added: "Overworked independent hotels and small hotel chains historically have not had the benefit of practicing rate parity. These smaller operators are really seeing the benefits of a web based all-in-one approach to property management systems that incorporate distribution and yield management. Similar innovations have revolutionized the airline industry, among others, and can be the difference between a business being profitable or going bust."
"But we also understand that each innovation must be flexible enough to adapt to each business. Not every hotel is the same and therefore the technology must be flexible". Frontdesk Anywheres yield management system, therefore, does not take a one-size-fits-all approach. Users are able to customize the program by implementing only those features that provide direct benefits. There are various rules that the software can follow, such as varying rates according to how far ahead a person is booking, or for how many days they intend to stay. It also calculates revenue and occupancy statistics, allowing hoteliers to budget and plan with the goal of setting room rates at a price that will bring in the highest possible revenue.
"Frontdesk Anywhere's clients can expect immediate improvements in Revenue Per Available Room and Average Daily Rates," said co-founder Thomas Lyle. "Where it becomes really effective is when you consider all the different ways in which rooms are booked nowadays. Hotels are using multiple online agencies to attract customers but how do you make sure all those agencies are charging a rate per room that reflects availability? The answer is, you don't have to worry about that anymore. This yield management software monitors all those potential problems and makes sure you always charge the right rate per room no matter how your customer makes their booking."
As with all of Frontdesk Anywhere's all-in-one property management system, the yield management module is cloud-based and available as part of an overall package that delivers a wide range of management solutions.
About Frontdesk Anywhere
Frontdesk Anywhere is a leading provider of innovative hotel management software for independent properties. To date, almost 1,000,000 hotel guests have had their stay managed with Frontdesk Anywhere -- from the initial online booking process through arrival, onsite operations and checkout. The company is focused on converging processes traditionally performed by separate systems into a single all-in-one productivity application. All modules are seamlessly integrated within the application and accessible from any computer and most mobile devices. The company is a privately held corporation based in San Francisco, California.
For further information please visit FrontdeskAnywhere.com.