Ever wondered what a Revenue Management System is? You hear it quite often, but every time you hear the word ''Channel Manager'' you have no clue what it is. Let us explain it to you!
Synonyms for the word Revenue Management System: RMS
Whereas previously an RMS was only affordable for hotel chains, there are now many different systems available for every type of hotel. An RMS is in fact a system that is used to respond in a smart way to the prices of your hotel room (price elasticity). For example, the RMS looks at which events take place in the neighbourhood, at the weather forecasts and at the room occupancy in the past. In addition, in the RMS you can set under which conditions the price rises or falls, and by what percentage. In this way you can offer an optimal number of rooms for a longer period of time to the right number of guests and at the best price.