RoomPriceGenie, a supplier of income administration methods (RMS) for impartial lodges and teams, is proud to announce the spectacular outcomes from an in-depth, 700-day research of 567 lodge shoppers worldwide, which demonstrates the ROI earned by every property because of implementing the corporate’s RMS. In the course of the research interval, taking part lodges skilled:
- A mean income improve of 19% throughout 567 properties in numerous markets worldwide.
- ADR and occupancy enhance collectively. With a 4% improve in ADR and a 14% increase in occupancy, properties profit from increased charges and extra booked nights.
- Importantly, the research confirmed that thehotels’ room rely had no important influence on income, ADR or occupancy good points skilled.
This research conclusively confirmed the RoomPriceGenie RMS helps lodges improve room charges whereas driving increased occupancy and considerably growing general income. The consistency and important nature of the good points earned by every property additionally demonstrates that the price of funding in implementing the RMS will likely be recovered rapidly, with monetary good points growing exponentially over time – irrespective of the kind or measurement of lodge, or how the market modifications.
In addition to boosting bookings and income, the research additionally proved the RoomPriceGenie RMS helps hoteliersplan and execute their income administration technique considerably extra rapidly than earlier than.
Lucas Roth, Proprietor at Raincity Property Group mentioned: “As a substitute of spending 10 hours each month going over the pricing for the upcoming months, we will now full it in about quarter-hour.”
Kiki Shahabi, Supervisor at Steiner Residences agreed: “What used to take days to a number of weeks to do is now attainable in a single day.”
“Income administration isn’t nearly growing costs; it’s about discovering the candy spot the place occupancy, charges, and visitor satisfaction align completely,” mentioned Chas Scarantino, CEO at RoomPriceGenie. “Whereas many lodges are initially cautious of implementing dynamic pricing, this research reveals that automating your pricing is the one method for lodges to create and preserve that integral steadiness, with out dropping management over their pricing or dissuading company from reserving with their property. As solely approx. 10% of hoteliers at present use a devoted RMS for managing their pricing, the RoomPriceGenie RMS is a confirmed method for ALL lodges to carry out extra competitively and maximize their general profitability.”
Methodology
The research examined the info from 567 properties from 9 nations: Australia, the Czech Republic, Germany, the Netherlands, New Zealand, Spain, Switzerland, the UK and the USA.
The research included evaluating every property’s efficiency to the Similar Time Final 12 months (STLY) to trace enhancements at 567 properties in several markets and with totally different sizes and kinds, all utilizing the RoomPriceGenie with AutoPilot function, which automates pricing calculations and updates. The research examined every property’s core income metrics – complete income, ADR (Common Each day Charge), and occupancy charges – for as much as 700 days.
