10 Best Revenue Management Systems for Hotels in 2024

Hotel Tech Report | Last updated
63 PRODUCTS REVIEWED
2743 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 2743 hoteliers across 100 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. Duetto — Best for hotels looking to leverage open pricing and machine learning.
  2. 2. IDeaS — Best for hotels looking to maximize total profitability with large revenue management team
  3. 3. RoomPriceGenie — Great solution for smaller to medium sized properties looking for an afforable and easy to
  4. 4. Atomize — Perfect for hotels with lean revenue teams looking for a fully automated solution.
  5. 5. BEONx — Solution designed around going beyond net profit to think about quality and efficiency.
  6. 6. Franco Grasso Revenue Team — Flexible solution for any kind of hotel from hostels to luxury resorts.
  7. 7. RateBoard GmbH — Automated price optimization for small and independent hotels & resorts
  8. 8. FLYR for Hospitality — Great for hostels and independents looking for advanced data science.
  9. 9. Cendyn — RMS used by large hotels and casinos.
  10. 10. LodgIQ — Up and comer built by hoteliers with an impressive client list.
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Revenue Management Systems Vendor Shortlist
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  • Featured: Vendors can subscribe to become Premium Members on HTR. This option sorts the directory first by Premium Members and then by 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 100 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 98 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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RoomPriceGenie
4.8 (364 reviews)
Ht score logo 98 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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second finalist logo 2024 FINALIST
Hoteliers voted RoomPriceGenie as the #2 Revenue Management Systems provider in the 2024 HotelTechAwards
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Revenue you can count on
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Atomize
4.6 (258 reviews)
Ht score logo 94 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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BEONx
4.7 (139 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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BEONx is the cloud revenue strategy solution based on AI that helps increase the total profitability of the hotel
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Franco Grasso Revenue Team
4.9 (67 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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An AI-driven RMS and BI that makes your pricing easier, with a no cure no pay model. Developed by true hoteliers and revenue managers for fellow hoteliers and revenue managers.
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RateBoard GmbH
4.7 (102 reviews)
Ht score logo 81 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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Revenue Management, Business Analytics, Data Analytics, SaaS, Machine learning, Dynamic Pricing and AI
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FLYR for Hospitality
4.7 (101 reviews)
Ht score logo 77 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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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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Achieve total revenue optimization with Guestrev
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LodgIQ
4.7 (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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Cutting-edge Revenue Management Platform that uses advanced AI and machine learning algorithms to maximize revenue potential and optimize your pricing and inventory strategies
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PRODUCT BUNDLES
These Product Suites Also Contain Revenue Management Systems
Other solutions that offer an integrated revenue management systems add-on module with their core product offering
BEONx
4.7 (139 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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or read reviews

BEONx’s Revenue Management Systems product suite also includes:

RateBoard GmbH
4.7 (102 reviews)
Ht score logo 81 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.
Learn more

or read reviews

RateBoard GmbH’s Revenue Management Systems product suite also includes:

PriceLabs
5.0 (36 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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or read reviews

PriceLabs’s Revenue Management Systems product suite also includes:

FLYR for Hospitality
4.7 (101 reviews)
Ht score logo 77 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.
Learn more

or read reviews

FLYR for Hospitality’s Revenue Management Systems product suite also includes:

or read reviews

XLR8’s Revenue Management Systems product suite also includes:

Demand Calendar AB’s Revenue Management Systems product suite also includes:

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ResNexus
4.8 (207 reviews)
Ht score logo 86 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.
Learn more

or read reviews

ResNexus’s Revenue Management Systems product suite also includes:

Amenitiz
4.5 (35 reviews)
Ht score logo 77 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.
Learn more

or read reviews

Amenitiz’s Revenue Management Systems product suite also includes:

Noovy
4.9 (26 reviews)
Ht score logo 25 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.
Learn more

or read reviews

Noovy’s Revenue Management Systems product suite also includes:

Booking Factory’s Revenue Management Systems product suite also includes:

HotelKey
4.4 (14 reviews)
Ht score logo 0 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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or read reviews

View more (3)
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ResNexus
4.8 (203 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.
Learn more

or read reviews

ResNexus’s Revenue Management Systems product suite also includes:

Planet
4.0 (106 reviews)
Ht score logo 39 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.
Learn more

or read reviews

Planet’s Revenue Management Systems product suite also includes:

freetobook’s Revenue Management Systems product suite also includes:

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Fairmas
4.6 (21 reviews)
Ht score logo 0 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.
Learn more

or read reviews

Fairmas’s Revenue Management Systems product suite also includes:

IDeaS
4.5 (22 reviews)
Ht score logo 0 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.
Learn more

or read reviews

IDeaS’s Revenue Management Systems product suite also includes:

Profit Intelligence’s Revenue Management Systems product suite also includes:

Magnum Leap Business Intelligence’s Revenue Management Systems product suite also includes:

PriceLabs
5.0 (35 reviews)
Ht score logo 100 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.
Learn more

or read reviews

PriceLabs’s Revenue Management Systems product suite also includes:

Busy Rooms’s Revenue Management Systems product suite also includes:

Innspire’s Revenue Management Systems product suite also includes:

WebBookingPro’s Revenue Management Systems product suite also includes:

OVERVIEW
What is Revenue Management Systems
Are you looking for a new revenue management system for your hotel to maximize yield, save time and generate more profitable business? When your hotel prices rooms too high, you lose out on occupancy. When you price too low, you leave money on the table. A great RMS can help you determine the perfect price for each hotel room at any snapshot in time to maximize profitability. Top RMS players can drive up to 25% increases in revenue and even higher in terms of profitability since revenue is largely incremental.
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)
BENEFITS
Benefits of Revenue Management Solutions

Revenue management software automates the process of using analytics -- mainly supply and demand -- to determine the right price for hotel rooms to maximize revenue and profitability. This category of software is also referred to as a "yield management system", "pricing engine" or an "RMS".

The primary goal is to sell the right product to the right customer at the right time for the right price on the right channel. Revenue management software ingests historical and market data, combines this with forward-looking demand signals and recommends a rate for each segment and room type at your hotel, specific for each channel on which you are selling. Recently, modern software has moved from on-premise to cloud-based applications that are delivered as Software-as-a-Service, meaning multiple users can login to the applications from anywhere they have an Internet connection.

  • Accurate forecasting: An accurate forecast looks at all of the available data -- past history and forward-looking data -- to help hoteliers determine what their demand is going to be for every single day as far as 365 days into the future. Forecasts help each department in the hotel make smarter operations, marketing and sales decisions.
  • Create operational efficiencies: Automating your revenue management with a revenue management system means hoteliers no longer have to build spreadsheets and reports, calculating the demand by hand every day, and then entering those numbers into a spreadsheet and reporting system. This frees employees up for more strategic thinking around positioning their hotel in the market
  • Improve RevPAR: Revenue management software is designed to find your hotel’s optimal business mix, balancing occupancy and ADR to ultimately drive revenue per available room.
  • Improve Net RevPAR / GOPPAR: More importantly, a modern revenue management system will place an emphasis on net revenue per available room, or RevPAR after operating costs like labor and acquisition costs are deducted. It’s critically important for hoteliers to focus on bottom line profitability (gross operating profit per available room) as well as top line revenue.
  • RevPAR Index: Perhaps the most important metric, RevPAR Index measures a hotel’s revenue versus it’s defined competitors in the market. If every hotel in the market sees revenue increases, RevPAR Index will show a hotel how its revenue has changed in comparison with the comp set.
  • Drive revenue: A revenue management system helps hotels determine how much to charge for their rooms each day. By accurately pricing hotel rooms based on real-time supply and demand data, hotels can drive average daily rate, revenue and most importantly RevPAR Index. 
  • Forecast demand accurately: A good forecasting algorithm will be able to easily switch between long-term and short-term forecasts, to enable revenue teams to focus on the impact of exceptional events, such as COVID-19 on market demand.
FEATURES
Key Feature Functionality

Ultimately a revenue management system is designed to help revenue managers do 3 things: set and optimize prices, automate manual workflows, and leverage large data sets to enable complex decision making with ease.  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.

  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.

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