Revenue management is described as the art and science of predicting real-time customer demand at the micro-market level and optimizing its price and availability. Hotel revenue management is also the cornerstone of running a successful, profitable hotel. However, it has become complicated when raw data for revenue management has dramatically increased.
Here, a hospitality startup first came to us to build a small data management platform for collecting and managing data. After completing the initial project with the client's happiness and satisfaction, we moved to develop an exclusive web-based hotel revenue management system, which includes modules like revenue management, revenue daily reports, and forecasts.
Firstly, the project started with a vague idea about technology and architecture. We quickly set up a team and worked very closely with clients and end-users via video calls, chatting, and emails to turn all business requirements into precise software requirement specifications, concrete product roadmaps, sprints, and deliveries. Our developer prepared a demo to demonstrate to our client our selected technologies and application workflow.
Secondly, despite the project's time pressure, the development team always made an effort to complete the tasks and expedite deliveries ahead of time, beyond client expectations. This also helps gain the client's trust and credibility.
Lastly, our developers worked with the client's business analyst to quickly adopt all the main logic in the hospitality industry and turn it into workable software within one week. By architecting the solution on Power BI and Microsoft technologies, the application development is deployed and managed easily and quickly. When Power BI and Azure work together, they allow us to analyze petabyte-scale data in seconds and secure client data with Power BI Embedded APIs. Therefore, we can turn these data processing efforts into analytics and client-facing reports that promptly provide real-time insights into their business. Thanks to these technologies, building models with automated machine learning for critical tasks enables us to reduce the development time considerably and save costs to accelerate the launching of the service.
- Requirement gathering by audio conferencing with the product owner.
- Get approval from the product owner about software requirements and the scope of work.
- Define system architecture and deployment model to get approval from the client.
- Define project phases and release roadmap.
- Delivery milestone by milestone in an interactive manner that includes development, testing, deployment, and feedback.
The project was accomplished ahead of time, on budget, and with client satisfaction. The revenue management system facilitates the client to handle, transform, merge and use all the data your hotel produces – as well as the market at large for analytics, reports, and forecasts. By simplifying and automating many underlying tasks and the manual work of hotel revenue managers, hoteliers can manage resources better, protect against rostering too many staff members during slow periods and take into account factors to track from last year and also the upcoming year.
Report dashboard backed by Power BI lets you easily track and visualize the hotel status, monthly revenue on the books, revenue forecasting, upcoming events, and others.
Forecasts & Budget
Make forecasting of room occupancy, revenue, distribution, etc., more accurate and complete.
Forecast hotel budget of room nights, average rates, and revenue based on multiple data sources.
Keep you prepared for booking your guests by planning seasonality and adding events, public holidays, and festivals to your hotel's calendar.