At our core, Rate Yield is designed for revenue managers who enjoy revenue management. Our hope is to provide tools to automate the redundant tasks without removing control or strategic problem solving from the people who know their market, hotel and culture most. Our algorithm development was the first step in this mission. Hoteliers work with us to design the inputs for their rate strategy so they can feel confident letting the machine take over with optimizations throughout the day.
Our newest feature to enable hoteliers are our Smart Restrictions. With this new feature hoteliers can set restrictions that will be put in place in the future and removed automatically based on conditions they’ve set themselves. Here are some examples of how our clients are already using this feature:
You want to put a minimum stay of 2 nights on a Saturday night to maximize your weekend bookings, but one week before arrival you’d like to release the restriction to be sure you don’t miss out on any demand for just one night. The Auto-release feature can be set to 7 days prior to arrival, or any other period you'd prefer.
You want to build up base in advance, but once you hit a certain occupancy threshold, you’d rather book for longer lengths of stay. By setting an occupancy filter, you can determine that at that threshold the restriction will automatically go into effect.
You have a lot of walk-ins and you want to protect rooms for them. You can set an occupancy threshold that will trigger a property close out to ensure you have rooms available for those who are simply driving by.
We are excited to offer this feature to hotels using Maestro, Opera, Mews, StayNTouch, Infor, Cloudbeds and IQware property management systems. Reach out today if you’d like to see how Smart Restrictions can empower you to implement your strategies without setting one thousand reminders!
