10 Best Hotel Revenue Management Software 2024

Author img Jordan Hollander
| Last updated
62 PRODUCTS REVIEWED
3056 HOTELIERS SURVEYED

A Revenue Management System helps you dynamically and automatically price your rooms based on real-time market movements to increase revenue and occupancy.  Gone are the days of spreadsheet based pricing, or worse, seasonal fixed rates.  Having the ability to display the right room at the right price to the right guest on the right channel can literally make or break the profitability of your hotel so choosing the right revenue management system is a major decision.

That's why we by surveyed 3056 hoteliers across 107 countries to create this in-depth guide and help you find the best fit revenue management system for your business.  Inside you’ll find everything you need to know including product rankings, feature comparisons, price benchmarking, integration interoperability and more.

 

Revenue Management Systems Shortlist

Here are 10 of the top Revenue Management Systems that are covered in this in-depth guide:

  1. 1. PriceLabs — Best for optimizing revenue with real-time data insights
  2. 2. Duetto — Best for optimizing revenue with real-time data insights
  3. 3. IDeaS — Best for dynamic pricing adjustments based on market trends
  4. 4. RoomPriceGenie — Best for optimizing revenue with minimal effort
  5. 5. Smartpricing — Best for optimizing your revenue with dynamic pricing
  6. 6. Atomize — Best for automating pricing strategies to boost revenue
  7. 7. Franco Grasso Revenue Team — Best for automating routine tasks to free up your time
  8. 8. BEONx — Best for optimizing revenue with dynamic pricing
  9. 9. RateBoard GmbH — Best for automating your revenue management to save time and reduce errors
  10. 10. FLYR for Hospitality — Best for optimizing revenue strategies
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In-Depth Guide
What is Hotel Revenue Management Software?
Hotel revenue management software, often referred to as a Revenue Management System (RMS), is a cloud-based platform designed to help hotels optimize their revenue through advanced forecasting, automation, and real-time data analysis. This software leverages algorithms and machine learning to enhance pricing strategies, allowing hotels to make proactive and informed decisions. The key functionalities of revenue management software include demand forecasting, which helps hotels predict future demand and occupancy rates, enabling them to set optimal pricing strategies and maximize revenue. Dynamic pricing uses real-time data to adjust room rates based on market conditions, ensuring the best possible rates for maximizing profitability. Revenue optimization is achieved by analyzing various data points and metrics, helping hotels identify and capture revenue opportunities. The software integrates seamlessly with other hotel management tools such as property management systems (PMS), enterprise resource planning (ERP) systems, and customer relationship management (CRM) platforms. This integration facilitates comprehensive revenue recognition and financial management. RMS streamlines workflows and improves operational efficiency by automating routine tasks, allowing hotel staff to focus on strategic decision-making. Additionally, the software includes channel manager functionalities to efficiently distribute room inventory across various online travel agencies (OTAs) and booking channels, maximizing reach and revenue. Robust customer support ensures ease of use and helps hotels maximize the software's potential. By providing insights into market conditions and revenue streams, the software helps hotels discover new revenue opportunities and drive revenue growth. Hotel revenue management software is a comprehensive tool that enhances revenue optimization, streamlines hotel operations, and supports data-driven decision-making to maximize profitability and growth in the hospitality industry.
Finding the right Revenue Management Systems solution for your hotel depends on several variables ranging from user experience and pricing to functionality and support. This guide is designed to help you identify the best Revenue Management Systems vendors, questions to ask on demos, read unbiased reviews from similar hoteliers and so much more. (including our 2024 Revenue Management Systems Guide)
Revenue Management Systems Vendor Shortlist
Each property has different characteristics, needs, preferences and budgets. Use the filters below to instantly analyze thousands of reviews to find the perfect fit for your hotel.

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  • Featured Fit: The default sort first shows vendors who are actively looking to connect with hotels in your region and then secondarily by Premium Members and HT Score.
  • Ht Score: The Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, customer support, user reviews, expert recommendations, integrations availability and geographic reach to help buyers better understand their products.
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Duetto
4.6 (488 reviews)
Ht score logo 99 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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winner logo badge 2024 WINNER
Hoteliers voted Duetto as the #1 Revenue Management Systems provider in the 2024 HotelTechAwards
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Cloud-based revenue management solutions without limits
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IDeaS
4.6 (563 reviews)
Ht score logo 97 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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third logo finalist 2024 FINALIST
Hoteliers voted IDeaS as the #3 Revenue Management Systems provider in the 2024 HotelTechAwards
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Automated solutions that pay for themselves
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Atomize
4.6 (259 reviews)
Ht score logo 91 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Atomize is a lean Revenue Management Software built for hoteliers that want to generate revenue and do more with less.
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Franco Grasso Revenue Team
4.9 (114 reviews)
Ht score logo 89 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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The only AI-driven RMS in the market offering a no cure no pay model. Born from the largest RM consulting company in the world.
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FLYR for Hospitality
4.7 (145 reviews)
Ht score logo 85 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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The Revenue Strategy Platform for Hospitality
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RevControl
4.6 (70 reviews)
Ht score logo 80 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Increase your revenue with up to 25% with our Revenue Management System
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Cendyn
4.2 (35 reviews)
Ht score logo 74 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Revolutionized profit optimization for hotels and casinos, offering unparalleled insights and flexibility
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Blastness
5.0 (42 reviews)
Ht score logo 83 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Simplify your revenue operations and maximize your property's performance with RMS
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Pricepoint
4.8 (29 reviews)
Ht score logo 74 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Fully automated dynamic pricing. It's not magic. It's science.
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Hotellistat GmbH
It’s time for All-In-One AI-empowered Revenue Management
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BENEFITS
What are the benefits of a revenue management system?

A hotel revenue management system (RMS) offers numerous benefits that help optimize a hotel's financial performance and operational efficiency. Here are some key advantages:

  1. Optimized Pricing Strategy: An RMS uses data analytics and algorithms to determine the best room rates, ensuring prices are adjusted dynamically based on demand, competition, and other market factors. This leads to maximized revenue and occupancy rates.

  2. Increased Revenue: By accurately predicting demand and optimizing pricing, an RMS helps hotels increase their revenue per available room (RevPAR), a key metric in the hospitality industry.

  3. Improved Forecasting: RMS tools provide precise demand forecasts, allowing hoteliers to anticipate future trends and plan accordingly. This helps in making informed decisions about pricing, staffing, and inventory management.

  4. Enhanced Competitive Advantage: By leveraging real-time data and market trends, an RMS enables hotels to stay ahead of competitors by adjusting rates and offers proactively.

  5. Better Inventory Management: An RMS helps in managing room inventory more effectively, ensuring that the right number of rooms are available at the right time, reducing instances of overbooking or underbooking.

  6. Increased Efficiency: Automating the revenue management process reduces manual work and the likelihood of human error. This allows hotel staff to focus on other important tasks, enhancing overall operational efficiency.

  7. Data-Driven Decision Making: RMS tools provide actionable insights through detailed analytics and reporting. This data-driven approach helps hoteliers make more informed decisions about marketing, sales, and overall business strategy.

  8. Enhanced Customer Experience: By optimizing room rates and availability, an RMS ensures that guests receive fair pricing, improving their overall experience and satisfaction. This can lead to higher guest loyalty and positive reviews.

  9. Improved Distribution Channel Management: An RMS helps manage multiple distribution channels (OTAs, direct bookings, etc.) effectively, ensuring that pricing and availability are consistent across all platforms, reducing discrepancies and maximizing reach.

  10. Adaptability to Market Changes: An RMS allows hotels to quickly adapt to market changes and unforeseen events by adjusting pricing strategies and inventory management in real-time, ensuring resilience and agility.

Implementing a hotel revenue management system can lead to significant improvements in financial performance, operational efficiency, and guest satisfaction, making it a crucial tool for modern hospitality management.

Hotels that switch onto a revenue management system generally experience a RevPAR increase of between 5 - 20 % as a result of optimized automatic price setting per room type.  Hotels that use revenue management systems save between 20 - 40 hours per month by streamlining manual workflows. An RMS also serves to visualize complex data sets into an easy to use and easy to understand user interface that saves revenue managers from difficult manual calculations and cumberson spreadsheets.  Whether its pulling in thousands of records of historical data from your PMS, connecting to city-wide group demand data sets or integrating rate shopping data from competitors —an RMS helps bring all of this data under one roof and deliver it in a simple way that helps revenue managers make more informed & data driven decisions.

FEATURES
What are the key features of hotel revenue management software?

The key features of a hotel revenue management system are designed to do 3 things: set and optimize prices, automate manual workflows, and leverage large data sets to enable complex decision making with ease.  Specific features you should be looking for include:

  1. Integrations: It’s important that your RMS integrates with your PMS, CRS, CRM and booking engine with a reliable, two-way connection so that the systems can share the right data.

  2. Open Pricing: Your RMS must be able to price room types and channels independently of each other, rather than in lockstep with a set BAR price. For example, on some days you want your AAA rate to be 10% less than BAR, on other days you may want it 1% less than BAR.

  3. Cloud technology: An RMS that runs on multi-tenant cloud architecture allows your systems to integrate and share data more seamlessly, and allows developers to push updates to your software in real time. No more purchasing new versions of software just to get the latest features.  

  4. Intelligent reporting: It’s important that your RMS be able to build, export and share your most critical reports. Revenue teams must be able to share reports at the push of a button with management, ownership and other departments within the hotel.

  5. Data Visualization: A good RMS not only presents your data in tabular reports, but allows you to visual your data and reports in graphical form. This allows revenue teams to better understand trends, outliers and patterns in data.

  6. Automation: With the push of a button, your price recommendations will instantly be reflected in your PMS. Neither analysis nor manual updates are required. Choose between accepting your recommendations one-by-one, in bulk or even override specific recommendations with ease.

  7. Price sensitivity chart: When setting the room price you need to take both internal and external data into consideration. The Price Sensitivity Chart is a graph illustrating the current optimal room price in relation to change in revenue and occupancy rate. It helps you to make sure your price points are accurate.

  8. Open pricing: Your RMS must be able to price room types and channels independently of each other, rather than in lockstep with a set BAR price. For example, on some days you want your AAA rate to be 10% less than BAR, on other days you may want it 1% less than BAR.

  9. Pacing reports: Pacing reports help you always know your pace, down to pacing at a room type level. You can compare your pacing with the reference arrival date of choice.

  10. Data visualization and business intelligence: A good RMS not only presents your data in tabular reports, but allows you to visualize your data and reports in graphical form. This allows revenue teams to better understand trends, outliers and patterns in data. It’s important that your RMS be able to build, export and share your most critical reports. Revenue teams must be able to share reports at the push of a button with management, ownership and other departments within the hotel.

  11. Group booking module: A Group Booking Price Module not only provides you with the current optimal group price, but also a secondary price, which is the lowest price point you should accept because you would be better off, from a yield perspective, to sell the inventory on the open market instead.

IMPLEMENTATION
What Integrations Does a Hospitality Industry RMS Need?

Once the contract is signed and discovery is complete, the typical rollout timeline for a revenue management system is 8-12 weeks but some providers today are able to live in under one week.

Property Management System A strong two-way integration with your Property Management Systems allows your RMS to pull historical information on rates and revenue, analyze the data and then return an accurate matrix of pricing recommendations for each segment and room type. Ultimately an integration with your PMS will enable more efficient revenue management automation to save time and improve results.

Central Reservations System A strong connection between the RMS and the CRS helps hoteliers avoid failed updates, lost reservations and bad reports when data and files are not transferred accurately between the two systems.

Email Marketing and CRM An RMS-CRM connection is critical when hoteliers want to price based on a guest’s value to your property. Without this connection, hotels cannot price based on loyalty or past purchase behavior.  CRM systems rely on big data to efficiently segment guest profiles and revenue management system data is as rich is it comes.

Booking Engine - Without a connection between the RMS and the booking engine, the right recommended rates cannot be pushed to the guest at the time of booking.

FAQs
Hoteliers Also Ask
The main goal of revenue management in hotels is to fill the right room at the right time for the right price. Revenue managers want to maximize the rate potential of each room night, but without setting prices too high that nobody will book.
A revenue manager leverages tools like revenue management systems and rate shoppers to analyze competitor pricing and set a rate strategy that will maximize revenue. In addition, a revenue manager might study market trends in STR reports, analyze data in a business intelligence tool, and use promotional tools in their booking engine, PMS, or channel manager.
Revenue management enables the business to stay competitive in the marketplace by adapting prices to changes in supply and demand. Revenue management strategies ensure a business isn’t leaving money on the table by charging rates that are too low, nor setting prices too high that nobody will purchase.
A revenue management system analyzes a combination of competitor rates, historical rates, market dynamics, and inventory levels to predict demand and provide rate recommendations. A good revenue management system will automate the entire process and generate rates that can maximize revenue and profitability.
The revenue manager’s job is to manage pricing strategies to maximize revenue and profit. In a hotel, the revenue manager sets rates, deploys promotions, analyzes competitor pricing, and decides when to open or close certain rate plans or promotions. A revenue manager usually works closely with the sales and marketing departments.
Revenue management systems (RMS) are critical to hotel profitability because they enable hoteliers to optimize pricing decisions and increase revenue growth. RMS software automates the process of forecasting and dynamically adjusting room rates based on market demand and historical data. This real-time functionality allows hoteliers to optimize revenue streams across distribution channels and room types. The algorithms and functionality of revenue management software provide hoteliers with pricing recommendations that are based on market data, KPIs, and metrics. This information helps hoteliers make informed decisions about pricing strategies and occupancy levels, which are crucial factors for maximizing revenue and profitability. In the hospitality industry, the use of an RMS is essential to compete effectively with other hotels in the same market. Without accurate forecasting and optimization, hoteliers risk losing business to competitors who are pricing their rooms more effectively. RMS solutions such as Duetto and Atomize provide cloud-based platforms that integrate with the property management system (PMS), channel manager, booking engine, and customer relationship management (CRM) software to ensure that pricing decisions are made with the right customer in mind. This integration also helps hoteliers to identify the most profitable channels and adjust pricing accordingly. Dynamic pricing is a key component of hotel revenue management strategy, and an RMS automates the process of updating prices in real-time based on occupancy and market demand. This ensures that hoteliers are always charging the right price for their hotel rooms. Historically, pricing decisions were made using spreadsheets and manual data analysis, which was time-consuming and prone to errors. Today, revenue management systems have revolutionized the hotel industry by providing automation, accuracy, and speed in decision-making. Revenue management systems are critical to hotel profitability because they enable accurate forecasting, dynamic pricing, and optimization of revenue streams across distribution channels and room types. With the use of an RMS, hoteliers can make informed decisions that lead to increased revenue growth and total revenue for their hotel business.
Hotels use a variety of revenue models to optimize profitability and increase revenue in the highly competitive hospitality industry. Central to these models is hotel revenue management (HRM), which involves a dynamic approach to pricing decisions based on market demand, seasonality, competitor pricing, and historical data. One of the core aspects of hotel revenue management is the use of revenue management software (RMS). These software solutions leverage algorithms and machine learning to forecast demand and make pricing recommendations. By analyzing vast amounts of data points, such as average daily rate (ADR), occupancy rate, and market trends, RMS helps hoteliers make informed decisions to achieve optimal pricing. A key component in RMS is its integration with property management systems (PMS) and channel managers. This integration allows for real-time updates across distribution channels, ensuring price parity and maximizing the visibility of room rates. The cloud-based nature of modern RMS provides scalability and operational efficiency, allowing even independent hotels to compete effectively by accessing sophisticated business intelligence tools. Revenue management solutions often include functionality that extends beyond pricing. They help streamline various aspects of hotel operations, such as room type allocation and managing direct bookings through the hotel’s booking engine. Automation in revenue management not only helps reduce the reliance on spreadsheets but also enhances decision-making by providing real-time data-driven insights. Revenue management systems also focus on the guest experience by ensuring that pricing strategies do not negatively impact customer perceptions or loyalty. Effective revenue management helps hoteliers not only to set the right price at the right time but also to improve the overall profitability of the hotel business through strategic control of available room rates and thorough analysis of revenue streams and KPIs. Hotel revenue management utilizes a comprehensive suite of tools and strategies that include dynamic pricing, data-driven decision-making, and automation to optimize revenue growth and enhance the profitability of hoteliers in the competitive hotel industry.
In the hospitality industry, revenue management systems (RMS) play a crucial role in optimizing hotel revenue management. These systems leverage data analysis, historical data, and real-time information to assist hoteliers in making informed pricing decisions and developing effective revenue management strategies. By analyzing market demand and competitor pricing, RMS enables hoteliers to forecast occupancy rates, room availability, and room nights, ensuring they set the right price for their hotel rooms. RMS helps in forecasting demand, optimizing room rates, and implementing dynamic pricing strategies to enhance RevPAR (revenue per available room) and ADR (average daily rate). This process involves considering various market conditions, market trends, and seasonality to maximize room revenue and total revenue. Revenue management systems also integrate with property management systems (PMS) and channel managers, streamlining distribution channels and allowing for better inventory management. By monitoring key performance indicators (KPIs) such as occupancy, ADR, and GOPPAR (gross operating profit per available room), RMS supports hoteliers in making data-driven decisions that improve their hotel's performance. These systems also aid in understanding customer segments, price sensitivity, and consumer behavior, which are essential for optimizing revenue opportunities. Additionally, RMS assists in managing overbooking, cancellations, and length of stay, ensuring a balance between room availability and guest experience. RMS is particularly beneficial for independent hotels and helps in managing direct bookings as well as distribution strategies involving online travel agencies (OTAs). By analyzing metrics from social media and other sources, hoteliers can discover new market segments and enhance their revenue strategy to achieve revenue growth and improve the bottom line of their hospitality business.
Hotel revenue management is a critical discipline in the hospitality industry that focuses on optimizing profitability through strategic decision-making. Utilizing forecasting, pricing strategies, and historical data, hotel revenue management aims to maximize revenue opportunities by balancing market demand and inventory management. Key metrics such as occupancy, ADR (average daily rate), RevPAR (revenue per available room), and GOPPAR (gross operating profit per available room) are integral to revenue management strategies. These strategies involve dynamic pricing and channel management, ensuring hotel rooms are sold at the right price through the most effective distribution channels, including OTAs (online travel agencies) and direct bookings. Hoteliers use revenue management systems (RMS) and property management systems (PMS) to integrate data analysis and real-time market conditions into their pricing decisions. This allows for precise demand forecasting and optimization of room rates based on market trends, seasonality, and competitor pricing. Effective revenue management also involves benchmarking against the comp set (competitive set) and utilizing business intelligence for continuous improvement. Revenue management in the hotel industry extends to various aspects such as room types, length of stay, and overbooking strategies. It encompasses a comprehensive distribution strategy, balancing occupancy rates and guest satisfaction to enhance the overall guest experience. By leveraging KPIs (key performance indicators) and understanding market segments, independent hotels and large chains alike can streamline their operations and enhance their bottom line. Hotel revenue management is about making informed pricing decisions that align with market demand, optimize room revenue, and ensure the profitability of the hospitality business. Through continuous monitoring and adaptation, hoteliers can maintain a competitive edge and achieve revenue optimization.

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