35 Best Hotel Revenue Management Software To Boost Profits In 2024
10 Best Hotel Revenue Management Software Shortlist
Here's my pick of the 10 best software from the 35 tools reviewed.
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As an expert in hotel technology, I've combed through the myriad of hotel revenue management system providers to compile a list of the top for you. These tools effectively use historical data and intricate metrics to shape interactive pricing strategies that maximize ADR and RevPar.
They're designed to help you determine the right price at the right time and successfully alleviate common pain points like tedious manual rate adjustments and uncertain revenue predictions.
These tools provide substantial benefits by making your revenue management process more strategic and data-driven.
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With one-on-one help, we guide you to your top software options. Narrow down your software search & make a confident choice.
What Is Hotel Revenue Management Software?
Hotel revenue management software, sometimes known as an RMS or revenue platform, is a tool that hotel businesses can use to manage and optimize revenue streams and profit by optimizing prices, managing inventory, and tracking demand in real-time.
Revenue management software uses machine learning algorithms to ensure optimal yield by automatically calculating demand and revenue forecasts while recommending appropriate selling strategies.
Best Hotel Revenue Management Software Summary
| Tools | Price | |
|---|---|---|
| innQuest | Pricing upon request | Website |
| Little Hotelier | Pricing upon request | Website |
| WebRezPro | From $5/user/month, (billed annually). | Website |
| Guesty | Pricing upon request | Website |
| innRoad | From $150/user/month | Website |
| Roomdex | From $89/user/month | Website |
| RoomKeyPMS | From $80/user/month. | Website |
| Preno | From $30/user/month (billed annually) | Website |
| Duetto | From $300/user/month | Website |
| IDeaS Revenue Management Solutions | Pricing for IDeaS Revenue Management Solutions is upon request and likely varies based on the specific needs and size of your hotel or hospitality business. | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareBest Hotel Revenue Management Software Reviews
roomMaster HMS by innQuest is a comprehensive property management system designed specifically for hotels. It provides a range of tools to help you manage day-to-day hotel operations, from front desk tasks to guest services. Whether you're running a small boutique hotel or a large property, roomMaster is built to support your team with managing reservations, guest check-ins, and billing.
Why I Picked roomMaster HMS: It offers built-in revenue optimization tools that automatically adjust room rates based on demand, helping you maximize occupancy and income. With its rate management tools, you can quickly implement yield management strategies by setting up rules that control room pricing depending on factors like occupancy rates or seasonal changes. The system also provides detailed reporting that helps you track financial performance.
Standout features & integrations:
Additionally, its direct booking engine lets you accept reservations through your website, reducing reliance on third-party channels. The built-in housekeeping management feature makes it easy to assign tasks to staff, track room status, and ensure timely room turnovers. The mobile app allows your team to manage guest check-ins, check-outs, and housekeeping duties on the go. Integrations include AdriaScan, Amadeus, H&L, Sage, Triptease, Windcave, Airbnb, Booking.com, Expedia, QuickBooks, Alpharooms, Bookeasy, and Hotwire.
Pros and cons
Pros:
- Prevents overbooking through channel management
- Easy integration with OTAs and direct website booking
- Includes tools for revenue optimization and dynamic pricing
Cons:
- Limited customization options for some features
- Initial setup can be time-consuming
Little Hotelier is a property management system specifically designed for small hotels, bed and breakfasts, inns, hostels, vacation rentals, and other small lodging establishments. It offers a suite of tools specifically tailored to the needs and resources of smaller operations, which is why it earns the title of best for small hotel management.
Why I Picked Little Hotelier: I picked Little Hotelier because its features and pricing structure are uniquely fitted to small-scale establishments. It's a powerful tool that helps small hotels compete in the market without requiring resources akin to larger chains. Therefore, I found it to be the best fit for small hotel management.
Standout features & integrations:
Among its most valuable features are front desk management, reservations management, and a robust online booking system. Little Hotelier also integrates seamlessly with leading OTAs and GDSs, helping small hotels maximize their reach without heavy investment in separate marketing tools.
Pros and cons
Pros:
- Includes a robust online booking system
- Provides integration with leading OTAs and GDSs
- Tailored to the needs and resources of small hotels
Cons:
- Annual billing cycle may not be suitable for all businesses
- Lacks some advanced features available in systems designed for larger hotels
- Pricing may be high for very small establishments
WebRezPro is a cloud-based property management system that enables hoteliers to manage their operations online, including reservations, accounting, and front- and back-office procedures. Its capability for extensive integrations sets it apart, making it ideal for those who value interconnected systems for improved workflow.
Why I Picked WebRezPro: I chose WebRezPro for its comprehensive suite of features and its impressive ability to integrate with a vast range of third-party systems. Its capability for extensive integrations effectively creates a centralized hub for hotel operations, making it ideal for those who appreciate an integrated approach to hotel management.
Standout features & integrations:
WebRezPro offers a rich feature set, including an integrated web reservation engine, a commission-free booking engine, and guest relationship management. This software stands out with its ability to integrate with over 100 systems, including OTAs, POS systems, payment gateways, and electronic locks.
Pros and cons
Pros:
- Has a commission-free booking engine
- Offers extensive integration capabilities
- Provides a comprehensive suite of features
Cons:
- Pricing is on the higher end for smaller establishments
- May require time to understand all features
- Interface can seem outdated
Guesty is a comprehensive property management platform designed to handle the complex operations of property management companies. By incorporating an extensive set of tools for managing, marketing, and analyzing rental properties, it's particularly useful for those seeking powerful property management functionality.
Why I Picked Guesty: I chose Guesty due to its broad range of property management features, which cater to the complexities of managing multiple properties. Its comprehensive solution makes it distinct in the market, providing capabilities from task automation to guest communication. These aspects are why I find it best for companies seeking top-notch property management functionality.
Standout features & integrations:
Guesty's feature list is impressive, including a unified inbox for guest communication, multi-calendar to manage multiple properties, and robust automation tools. Furthermore, it integrates with leading online travel agencies, payment processing services, and operation tools, making it a versatile platform for managing rental properties.
Pros and cons
Pros:
- Provides integrations with leading travel agencies and operation tools
- Includes a unified inbox for improved communication
- Offers extensive property management functionality
Cons:
- Limited customization options in certain areas
- May have a steeper learning curve due to its wide range of features
- Pricing can be high for smaller businesses
innRoad is a cloud-based hotel management software specifically designed to fulfill the needs of independent hotels. By providing a fully integrated, end-to-end solution, it empowers hoteliers to reduce operational burdens and focus more on providing exceptional guest experiences.
Why I Picked innRoad: I selected innRoad for its commitment to simplifying operations for independent hoteliers. It's a complete, all-in-one solution, providing everything from reservation management to revenue management, making it stand out as an excellent choice for independent hotels. Its ability to streamline various operations justifies it being the best choice for independent hotel operations.
Standout features & integrations:
innRoad provides a robust set of features including an intuitive reservation management system, guest communication tools, and detailed reporting for revenue optimization. It also integrates with a wide range of distribution channels, payment processors, and third-party booking platforms, facilitating broader reach and streamlined workflows.
Pros and cons
Pros:
- Broad range of integration options
- Designed specifically for independent hotel operations
- Offers a comprehensive, all-in-one solution
Cons:
- Requires minimum five seats, making it less suitable for very small operations
- Higher pricing, particularly for smaller establishments
- The interface could be more modern
Roomdex is a hotel management tool that excels in automating room upgrades. It's an innovative solution designed to facilitate upselling by automating, simplifying, and optimizing hotel room upgrade opportunities. This focus on automation makes it especially proficient in managing room upgrades.
Why I Picked Roomdex: I chose Roomdex for this list for its unique approach to the automation of room upgrades. Most hotel management tools offer some upselling functionality, but Roomdex is designed specifically with this goal in mind, making it exceptional in this field. Thus, it is the best tool for automated room upgrades.
Standout features & integrations:
Roomdex brings several key features, such as an intuitive dashboard, automated email marketing, and personalized upsell offerings based on guest data. The platform integrates seamlessly with major Property Management Systems (PMS), enhancing its compatibility and operational efficiency.
Pros and cons
Pros:
- Operates on a 'no upgrade, no charge' pricing model
- Integrates with leading Property Management Systems
- Specializes in automated room upgrades
Cons:
- Might require a learning curve for those unfamiliar with automation technologies
- More focused on upselling than other areas of hotel management
- Lack of fixed pricing may not suit all businesses
RoomKeyPMS is a versatile property management system offering a suite of capabilities designed to cater to various types of properties, from boutique hotels to large resorts. This tool's flexible functionality makes it ideal for operators dealing with diverse property types.
Why I Picked RoomKeyPMS: I picked RoomKeyPMS for its versatile functionality that can handle a variety of property types effectively. This adaptability makes it stand out from many other property management systems. Thus, in my opinion, it is best suited for businesses managing a range of different property types.
Standout features & integrations:
RoomKeyPMS boasts robust features including real-time centralized reservations, guest profiles, and dynamic pricing. It also offers crucial integrations with global distribution systems and booking engines, ensuring reservation and property management.
Pros and cons
Pros:
- Comprehensive integrations with global distribution systems
- Robust features such as real-time centralized reservations
- Versatile functionality for diverse property types
Cons:
- Certain features might have a steep learning curve for beginners
- The user interface could be more intuitive
- Pricing might be on the higher side for smaller businesses
Preno is a hotel management software that aims to simplify the process of running accommodation businesses. Its intuitive user interface makes it easy for operators to manage bookings, room availability, rates, and reporting, aligning with its qualification as the best for an intuitive user interface.
Why I Picked Preno: I chose Preno due to its clear, user-friendly design that eases the typically complex task of hotel management. This element sets it apart from many other tools in the industry, reinforcing my belief that it's the best choice for those seeking an intuitive user interface.
Standout features & integrations:
Preno provides a host of useful features, including real-time availability and occupancy rate updates, customer relationship management (CRM), and reporting tools. It integrates well with major platforms such as Xero for accounting and Mailchimp for marketing, contributing to its overall utility.
Pros and cons
Pros:
- Integrates well with major platforms such as Xero and Mailchimp
- Real-time updates for availability and rates
- User-friendly interface, easy for staff to understand and use
Cons:
- The annual billing might not be suitable for all businesses
- Limited customization options
- Higher cost compared to some competitors
Duetto is a hotel revenue management software that provides advanced real-time pricing capabilities, using big data to improve rates and revenue. It stands out for its ability to quickly adjust to market dynamics, making it a robust choice for real-time pricing.
Why I Picked Duetto: In my search for the best hotel management tools, Duetto came up strong due to its impressive real-time pricing functionality. Its use of big data and machine learning algorithms allows it to adjust pricing dynamically based on market conditions, setting it apart from other tools. For this reason, I hold Duetto as the best for real-time pricing capabilities.
Standout features & integrations:
Duetto offers unique features like predictive analytics, demand forecasting, and price optimization based on market trends. Furthermore, it integrates with major Property Management Systems (PMS), Central Reservation Systems (CRS), and customer relationship management (CRM) platforms, thereby enhancing its functionality.
Pros and cons
Pros:
- Integrates with leading PMS, CRS, and CRM platforms
- Utilizes big data and machine learning for optimal pricing
- Advanced real-time pricing capabilities
Cons:
- Could be overkill for small properties with simpler needs
- May be more complex than some other systems
- Pricing information not readily available
IDeaS Revenue Management Solutions offers robust, data-driven insights for the hospitality industry. The tool focuses on using advanced analytics to provide strategies for maximizing hotel revenue, which is why it excels in its category.
Why I Picked IDeaS Revenue Management Solutions: I selected IDeaS Revenue Management Solutions for its in-depth analytics capabilities. While many hotel management tools include some form of analytics, IDeaS stands apart with its advanced, proprietary analytics that drive revenue growth. I determined it to be the best choice for those prioritizing sophisticated data insights in their hotel management process.
Standout features & integrations:
IDeaS features include advanced forecasting, pricing decisions, inventory controls, yield management, and automated decision intelligence. These tools work together to drive revenue optimization. It also integrates well with several popular hotel Property Management Systems (PMS), Customer Relationship Management (CRM) systems, and Business Intelligence tools.
Pros and cons
Pros:
- Robust features for revenue optimization
- Integrates with popular PMS, CRM, and BI tools
- In-depth, advanced analytics
Cons:
- Could be overkill for smaller or less complex operations
- May be overwhelming for those not accustomed to detailed data analysis
- Pricing is not transparent
Other Hotel Revenue Management Software
Below is a list of additional hotel revenue management software that I shortlisted, but did not make it to the top 10. Definitely worth checking them out.
- Solonis
Best for data-driven insights
- Hotellab
Best for strategic revenue planning
- Right Revenue
Best for adaptive pricing algorithms
- Vena
Good for revenue planning with integrated budgeting and forecasting
- Intelligence Node
Good for retail businesses seeking comprehensive price optimization
- RateBoard
Good for scientifically calculated revenue management
- Revenue Analytics
Good for enterprises seeking custom revenue management solutions
- Kriya RevGEN
Good for hotels seeking a hands-on approach to revenue management
- RevControl
Good for demand-driven dynamic pricing
- Duve
Good for enhancing guest experience alongside revenue management
- RoomPriceGenie
Good for small hotels and B&Bs seeking automated pricing
- Revbell
Good for hotels seeking revenue optimization with a focus on guest experience
- Wiser
Good for competitive pricing intelligence
- OTA Insight
Good for optimizing pricing through market intelligence
- RateWise
Good for cloud-based revenue optimization
- Retalon
Good for advanced predictive analytics in retail pricing
- eZee Mint
Good for small to medium hotels seeking a simple revenue management solution
- Infor EzRMS
Good for large hotels and chains with complex revenue needs
- Cendyn
Good for maximizing guest value and hotel profitability
- D-Edge
Good for digital marketing and distribution strategies
- Chargify
Good for businesses seeking a billing platform with revenue operations features
- Beonprice
Good for AI-driven hotel revenue optimization
- YieldPlanet
Good for integrated revenue management with channel management
- Bezla
Good for comprehensive hotel management, including revenue optimization
- Pace Revenue
Good for real-time revenue optimization
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Here are some other lists of popular hotel software for you to check out.
What Are The Benefits Of Using Hotel Revenue Management Software?
So, what are the benefits of using hotel revenue management software?
There are many benefits of using hotel revenue management software, including:
- Increased Revenue: One of the main benefits of using hotel revenue management software is that it can help with increasing revenue. Hotel revenue management software can help improve room rates and occupancy levels, leading to increased profits.
- Better Control of Rates: Hotel revenue management software gives hoteliers better control over rates, which can help to maximize profits.
- Improved Efficiency: Hotel revenue management software can help improve efficiency by automating rate changes and inventory management tasks. This can lead to reduced costs and improved profitability.
- Increased Customer Satisfaction: Hotel revenue management software can help to improve customer satisfaction by optimizing room types availability and rates. This can lead to increased bookings and higher customer satisfaction levels.
There are many other benefits of using hotel revenue management software, including improved marketing efforts, more accurate forecasting, and better decision-making.
How Much Does Hotel Revenue Management Software Cost?
So, how much does this valuable software usually cost? Hotel revenue management software can vary depending on the features included, but it's typically priced between $1,000 and $10,000 per year. However, many vendors offer a free trial or demo, so you can explore the software before purchasing.
When shopping for hotel revenue management software, be sure to ask about the following features:
- The ability to create custom spreadsheet and reports
- Automatic rate updates
- Sales and marketing analysis
- Group booking management
- Commission tracking
What Are The Key Features To Look For When Buying Revenue Management Software?
When purchasing revenue management software, it's important to consider the following key features:
- Integration: The software should connect easily with your hotel's booking and rate management systems.
- Real-time information: You need access to real-time occupancy and room rate data for quick, effective decision-making.
- Forecasting and modeling tools allow you to predict future sales trends and make informed pricing decisions.
- Allocation algorithms: These ensure your rooms are being sold most profitably.
- Group booking management: This feature is crucial if your hotel frequently caters to group bookings, as it helps manage their complex pricing structures.
- Channel management capabilities: This feature helps you manage your presence on multiple booking platforms and maintain price parity.
Choose software that includes all these features, and is also user-friendly and easy to navigate. Your specific needs may prioritize some features over others.
Other Hotel Revenue Management Software
Here are some other useful tools for hotel revenue management.
What Next?
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