FAQ
WHAT ARE THE ADVANTAGES OF OMNIHOTEL?
A dedicated Revenue Manager
No set-up fees
Definition of your strategy 7 days a week, 365 days a year
Save time and money on selecting and training new internal resources
A centralized and optimized management of sales channels
More time for you to focus on Customer Care activities and other services
Increase your revenue and reduce costs for internal specialized staff
Sales and Marketing professionals at affordable costs
Have your property updated all the time on a complex, flexible, dynamic and competitive market.
WHAT DOES REVENUE AND YIELD MANAGEMENT MEAN?
“Yield management” or “revenue management” is the management of available resources (hotel rooms, airplane seats) in the aim of enhancing and optimizing your turnover. The technique applied to the sales allows you to modify revenues based on the real trend of the demand, while reaching the highest sales rate in each period of the year. One of the most renowned consequences is the application of higher prices when the demand is higher and discounted prices when the demand is low. Therefore, this word indicates the “system adopted by the company (more or less articulated and sophisticated, based on the needs, size and resources of the company itself) aimed at managing inventory resources and maximizing their performance. Indeed, a YMS leads to the optimization of resources through the use of methods that allow a more positive management of operations and prices, while increasing revenues. The revenue management consists in the integrated control of services and price to optimize revenue/yields. The match between aggregated supply and demand does not determine the price. Rather, the price becomes ‘individual’ and customized, based on personal preferences in order to get, from each customer, the maximum amount that he/she is willing to pay for a product or a service. Prices are one of the inputs of Yield Management techniques, but are not necessarily changed by them; the highest yield is obtained with the segmentation of the demand into various price profiles, to which a given number of customers – with a similar “willingness to pay” – is associated.
Another goal is the saturation of occupancy rate and the fidelization of customers on the long term.
WHAT DOES REVPAR MEAN?
RevPAR stands for Revenue Per Available Room. In other words, it represents the revenue-per-room and is used as a benchmark for measuring the performance of hotels. It is the simplest system to compare the trend of hotels and properties of different sizes, because it takes into account the revenue generated by the sales of rooms and the total number of rooms available. The RevPAR represents the “state of health” of a hotel in terms of revenue management. It represents the economic value of each and single room on a precise temporal scale (day, week, month, year).
WHAT DOES GDS MEAN?
The Global Distribution System, abbreviated GDS, is a computer-based system for the management of bookings and sales of flight tickets, hotels, car rentals, etc.
The first GDS was called Sabre; in 1960, it established as a computer-based system generating electronic bookings for American Airlines tickets as well.
In 1971, United Airlines introduces Apollo (today called Galileo) as a own booking system for all flight company offices. In 1987, Amadeus CRS was founded and in 1990 a consortium of flight companies created Worldspan. Another system, called Pegasus, was wrongly considered to be fifth GDS; actually, it was an interface connecting online booking portals with GDS. Nowadays, there are four main providers: Amadeus, Galileo (Apollo), Sabre and Worldspan. Initially founded for flight companies operators, they were extended to travel business as well and soon became the main ticketing instruments of travel agencies. Later, other products were added, including hotels, cars to rent and cruises.
WHAT IS A BOOKING ENGINE?
A Booking engine is an online booking system, that is, an application that allows a property to receive bookings through the Internet. A Booking Engine allows potential customers to check the availability and prices of rooms, and to book them real time.
Omnihotel has developed its own Web Booking Engine, which is a simple and complete tool, easy to integrate in hotel websites. For more information check the ‘Services’ page and /or fill in the ‘Contact us’ form.
WHAT IS A PMS?
PMS means Property Management System. A PMS is a software used by properties for the management of bookings, check-in check-out procedures, payments, property administration and statistical reports.
Omnihotel has developed a web based PMS (it is a standalone application that does not need to be installed and can be easily accessed online). Simple, easy-to-use and optimized for your revenue/yield management. For more information check the ‘Services’ page and /or fill in the ‘Contact us’ form.
