Top 8 Revenue Management Systems

A revenue management system (RMS) is a software tool that assists hotels in managing various revenue-related tasks such as data management, pricing, inventory, and reporting. The cloud system employs a rules-based or analytics-based pricing algorithm, which considers both internal and external data to provide suggestions for pricing and length of stay restrictions.

If you’re still using spreadsheets to manage your revenue, it’s time to ditch the time-intensive task of yore and consider using technology that simplifies your processes, saves time, and increases your revenue. Luckily, revenue management technology has greatly improved since it was first introduced in the 1980s. It can now analyze real-time data and forecast demand to help property managers make informed decisions.

What’s the Best Revenue Management Software for Hotels?

The best revenue management software doesn’t just track occupancy. It reads the market like a seasoned GM, picking up on booking pace, competitor moves, upcoming events, even the weather. Then it turns all that into razor-sharp pricing suggestions so you sell more rooms at the best possible rates.

Here are the top revenue management tools that can make a real difference at your property.

1. RoomRaccoon

RoomRaccoon is an all-in-one hotel management system with built-in revenue management tools designed to boost profitability. From smart dynamic pricing rules — like hiking non-refundable rates a few days before arrival — to a rate shopper that benchmarks competitors and triggers price rules based on their activity, it’s built for speed and strategy.

At the top of the stack is RaccoonRev Plus: an AI-powered pricing engine that forecasts demand and suggests optimal rates. Whether you prefer to stay in control or let it run on autopilot, you’ll always price with confidence.

Compared to stand-alone revenue management systems, RoomRaccoon holds its own. It benchmarks up to six competitors and uses powerful AI to analyze data points like booking pace, local events, competitor rates, weather, holidays, and historical trends, giving hoteliers the insights they need to make the best pricing decisions without leaving their PMS.

2. RoomPriceGenie 

Trusted by more than 2000 hoteliers worldwide, RoomPriceGenie is committed to providing independent hotels with the best possible pricing options with minimal effort. It’s quick to implement, and easy to comprehend, and the team at RoomPriceGenie understands that the solutions required by hotels must be user-friendly.

“RoomPriceGenie automates the pricing process, taking the guesswork out of the equation. It helps hoteliers maximize their revenue without all the additional work typically associated with pricing hotel rooms. It is designed to be so user-friendly that non-experts can use it with ease, and experts can have all the flexibility they need. It’s fast to implement, intuitive to use, simple to understand and completely transparent” _RoomPriceGenie Revenue Manager.

3. RevControl

RevControl is a cloud-based revenue management software that not only maximizes your room revenue potential, but also provides exceptional customer support. They proudly serve over 550 hotels, hostels, and holiday parks in 18 different countries. Developed by Dutch hoteliers and software experts, their system delivers tangible results.

What can you expect? On average, their clients experience a room revenue increase of up to 25%. Additionally, their support garners an impressive 4.9 out of 5 score on HotelTechReport, reflecting their dedication to customer satisfaction.

4. Smartness

Smartness is a user-friendly tool that simplifies dynamic pricing strategies for everyone. By analyzing the data of your accommodation as well as the latest market trends, Smartness eliminates the complexity of revenue management and automates the rate management process, saving you time and effort. This RMS has a proven track record of increasing income for accommodations by an average of 30% annually. 

5. Pricepoint

Pricepoint is an advanced price optimization engine that uses real-time data analysis to help you keep ahead of competitors. Developed by experienced industry experts and data scientists with two decades of experience in building AI-powered revenue management systems, Pricepoint continuously monitors the market and adjusts room prices to ensure you stay ahead of the curve. 

6. BEONx (Beonprice)

BEONx is an all-inclusive platform that helps hotels maximize their profits by going beyond revenue management to total profitability. The company was established in Salamanca, Spain, in 2012 to help hotels be less manual and more digital. 

They noticed that many hotel revenue managers were still using outdated methods that were no longer effective in the digital age. To address this, they created an AI-powered platform that simplifies the transition from RevPAR to RevPAG (Revenue per Available Guest), resulting in personalized guest journeys and increased profits.

7. Lybra Tech

Lybra Tech develops big data technology solutions for hotels and tourist destinations. Their advanced technology collects and analyzes large amounts of data in real-time, providing valuable insights and recommendations to optimize business operations, increase revenue, and enhance customer satisfaction.

Whether you want to improve pricing strategies, boost marketing campaigns, or gain a deeper understanding of your target audience in Germany, Spain, France, Italy and Portugal, Lybra Tech has the tools to help you achieve your goals.

8. Happyhotel

Happyhotel is a fast-growing startup located in Offenburg, Germany. They have developed software that assists hoteliers in automating various hotel management processes, with a focus on revenue management. Their software is used worldwide in the extensive hotel industry to increase revenue. 

How Does a Revenue Management System Work?

Not all revenue management software are built equal, so the way it analyzes data to suggest pricing will also differ. It’s important to keep in mind there are stand-alone RMSs that integrate with your PMS, and built-in RMSs that already have access to all your historical and current data.

But here’s how a good revenue management system typically works behind the scenes:

• Forecasts demand: It looks at booking pace, past performance, lead times, and even weather to predict how many guests are likely to book.
• Benchmark the market: Tracks competitor rates so you’re never overpriced or undersold.
• Suggests optimal rates: It recommends the best rates. How often it updates and how far in advance it forecasts depends on the vendor.
• Supports your workflow: You can review suggestions and apply them with a click or choose to go auto-pilot so your rates change while you focus on guests.

Want to add AI revenue management to your hotel? Watch how RaccoonRev Plus makes it simple.

What Are the Benefits of a Revenue Management System?

Let’s discuss why revenue management systems are beneficial in the hospitality industry.

1. Increase revenue and profitability

Revenue management is a strategy that can help hotels increase their revenue and profitability by optimizing prices and occupancy based on demand and competition. This can result in a higher RevPAR and overall revenue for the hotel. 

For instance, if a hotel experiences high demand for a certain period, revenue management techniques such as dynamic pricing can help increase prices and limit inventory to capture the most revenue possible. On the other hand, if a hotel experiences low demand, revenue management techniques can help reduce prices and increase inventory to attract more guests and fill its rooms. 

By using revenue management techniques effectively, hotels can achieve their revenue and profitability goals while also satisfying their guests’ needs and expectations.

2. Improve ADR and occupancy

Many hoteliers think raising rates means losing bookings, but with smart revenue management, you can increase both ADR and occupancy at the same time. By understanding demand trends and setting prices accordingly, you attract more of the right guests who are willing to pay your optimal rate. It’s not about charging more for the sake of it. It’s about charging smart, filling rooms, and making more from every stay.

3. Amplifies guest experience

Optimizing your prices and inventory using revenue management techniques can help ensure that your guests receive the best value for their money. For instance, during periods of low demand, you can attract guests by offering value-added packages and reducing prices. In periods of high demand, you can confidently offer premium rates and exclusive packages that appeal to high-end guests seeking added value.

By providing personalized pricing and packages tailored to your guests’ preferences, hotels can create a memorable and enjoyable experience.

4. Automates pricing

Adjusting prices manually is a daily challenge for hoteliers. While they may know when guests typically start booking summer holidays, they often lack the detailed insights like competitor availability or sudden shifts in demand needed to react effectively. Even experienced GMs tend to rely on fixed rules, but those rules cannot account for subtle real-time market signals. Demand changes on both macro and micro levels, and many of those shifts are too nuanced for humans to detect.

Automated pricing tools solve this by continuously analysing live data and suggesting optimal rates across all your external booking channels and booking engine, so your pricing is always one step ahead. Some advanced systems even offer auto-pilot pricing, where the tool applies the rate suggestions automatically without the hotelier needing to lift a finger.

5. Gain a competitive edge

Revenue management gives you the tools to stay ahead in a crowded market. By using dynamic pricing, you can adjust your rates and packages to match guest demand and expectations not just seasonally but daily. This helps you attract more bookings and grow your market share. Monitoring your competitors’ pricing and availability also allows you to respond quickly and position your property more strategically. In short, it keeps you relevant and competitive even in fast-moving markets.