Room Rate Controller (RRC): AI-Powered Yield Management

Room Rate Controller (RRC): AI‑Powered Yield Management

In this industry, optimizing your room rates is important to generate maximum revenue by selling to the right customer, at the right time, for the right price.

If you’re looking for a hassle-free way to automate and implement dynamic room pricing, then incorporating yield management would be essential for your needs.

Thankfully, Booking Ninjas has an AI-powered Room Rate Controller (RRC) that does all the work for you — including yield management.

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Why Yield Management Is Important

As a property owner or manager, you’d ideally want to understand, anticipate and influence your guests’ behaviors in order to maximize revenue and profits.

Say it’s the school holidays, and you anticipate an influx of guests — obviously, you’d be missing out on extra revenue if your prices aren’t adjusted to reflect increasing demand.

The increase or reduction in the price of products and services helps companies like yours determine future demand with higher accuracy. Hence, this process allows for better production and sales planning.

Traditionally, this practice is done manually by updating pricing on websites or platforms.

However, with Booking Ninjas, our Room Rate Controller (RRC) works intelligently to capture data from various sources in order to determine the best room rates!

Why The Need For An RRC

You can still set your own rates manually, but the beauty of Booking Ninjas’ RRC lies in how it reduces manual work and increases efficiency through its intelligent automated system.

The value for you is that less time can be spent on menial tasks such as data entry — so you can allocate manpower smartly to more important tasks.

Our Platform Captures Data Smartly

This system is connected to the larger property management system, which eliminates the need for manual data input.

It also pulls in data points from various sources, such as third-party websites, dates, venues, and others — and executes the price optimization based on set rules.

It connects to any third-party API to retrieve data, analyze and suggest room rates. You may choose to automatically take the suggested price or manually approve it as well.

Best of all, the room rate updates are synced to your booking engines and all other channels (e.g. OTAs like Expedia, booking.com, Airbnb, etc).

With Our RRC, You Set The Rules

The system updates dynamic room prices based on “rules” that you set. These rules can be customized based on:

Occupancy rate

Events or festivities

Seasons

Real-time demand (based on real-time reservation)

and many more

For example, a Deluxe Suite during off-peak season would retail for $250. However, you’d want to maximize that property by increasing the price.

As such, you can set rules that determine the pricing based on how full occupancy rates are, the day of the week, or even the time of day customers browse your site. When situations change, the pricing will be able to automatically reflect the change in a dynamic manner too.

Optimize & Maximize Your Revenue With Our Room Rate Controller Today

Schedule a call with us now to learn more now!