In order to obtain the highest possible occupancy and the best possible ARR, the rates must be constantly adjusted to the level of demand. At the same time, rates should not merely cover the marginal income, they should yield the highest rates according to demand.
SIHOT.RMS was developed to provide the hotelier with a tool to facilitate and automate the numerous calculations, procedures and analyses that are required in this context.
The rate policy of a hotel depends on many different factors, some of which may not be predictable or calculable, e.g. demographic changes, changes in the target market and unforeseen incidences such as severe weather conditions. Therefore, the functions in this module are designed to be flexible so that small and large adjustments can be made quickly and with as little effort as possible.
This document contains a number of technical terms that the reader should be familiar with. Explanations of commonly used abbreviations and terms are:
|
Abbr./Term |
Description |
|
BAR |
abbr.: Best Available Rate; most favourable rate offered |
|
FC |
abbr.: Forecast |
|
Hurdle |
used here in the sense of „minimum rate possible“ |
|
LOS |
abbr.: Length of Stay |
|
Loose Rate |
lowest possible rate, which is just above the break-even point |
|
OTB
|
abbr.: On the Books; current booking situation |
|
Planning |
The planning-dialogs allow the user to enter and thoroughly revise the data before committing them to the live-system. |
|
Production |
The production-dialogs contain the current data and settings that are used in the live-system at present. |
|
Revenue Management |
This term denotes the enterprises entire concept of steering its rate policies towards offering “the right guest the right price at the right time”. |
|
RevPar
|
abbr.: Revenue per Available Room; average daily net accommodation revenue based on the total number of rooms that are available for rent |
|
Yield Management |
This term is used to describe individual measures and actions within the Revenue Management concept. |