34 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 34 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.
Need expert help selecting the right tool?
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 | |
|---|---|---|
| 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 |
| Hotellab | Pricing for Hotellab is upon request. The cost may depend on the size and specific requirements of your hotel. | Website |
| RoomKeyPMS | From $80/user/month. | Website |
| Preno | From $30/user/month (billed annually) | Website |
| Right Revenue | Pricing information for Right Revenue is not publicly available and is provided upon request. | 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 |
| Solonis | From $20/user/month | 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
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
Hotellab is a dedicated revenue management tool designed specifically for the hotel industry. It focuses on the strategic planning of revenue, which aligns with its excellence in long-term financial strategy development for hotels.
Why I Picked Hotel Lab: I picked Hotellab for its emphasis on strategic revenue planning. It distinguishes itself from other tools by its ability to incorporate various strategic elements into revenue planning, allowing hotel managers to predict and manage their financial growth. Given these unique characteristics, I judged it to be the best tool for strategic revenue planning.
Standout features & integrations:
Hotellab's key features include revenue forecasting, strategic pricing, and competitor analysis, all of which contribute to a robust revenue management strategy. It also integrates with several Property Management Systems (PMS), allowing for data flow and analysis within your current management structure.
Pros and cons
Pros:
- Integrates with various Property Management Systems (PMS)
- Offers robust features such as revenue forecasting and strategic pricing
- Emphasizes strategic revenue planning
Cons:
- Limited integrations with non-PMS software
- May be too complex for smaller establishments
- Lack of transparent pricing
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
Right Revenue is a hotel revenue management tool that uses advanced algorithms to adapt pricing according to market dynamics. It operates by analyzing many data points and adjusting prices in real-time, making it particularly proficient in adaptive pricing algorithms.
Why I Picked Right Revenue: In the realm of hotel revenue management tools, Right Revenue grabbed my attention due to its advanced adaptive pricing algorithms. These algorithms stand out because they can intelligently analyze vast market data and alter pricing in response to changes. I chose Right Revenue as the best tool for adaptive pricing algorithms.
Standout features & integrations:
Right Revenue's noteworthy features include its adaptive pricing algorithms, real-time rate adjustments, pricing recommendations, and comprehensive reporting features. The tool integrates with several Property Management Systems (PMS) and Channel Managers, allowing it to coordinate smoothly with a hotel's existing systems and software.
Pros and cons
Pros:
- Integrates with many PMS and Channel Managers
- Real-time rate adjustments
- Advanced adaptive pricing algorithms
Cons:
- Limited customer support availability
- May be complex for small hotels to use
- Pricing information is not transparent
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
Solonis is a sophisticated platform for revenue management that uses advanced data analytics to provide actionable insights. The platform's ability to leverage data for informed decision-making positions it as a valuable tool for businesses looking to maximize their revenue through strategic data utilization.
Why I Picked Solonis: In selecting Solonis, I was drawn to its robust real-time data analytics capabilities that empower businesses to make informed decisions based on comprehensive data insights. It stands out due to its advanced analytics features that convert complex data into digestible information, thereby making it best for generating data-driven insights.
Standout features & integrations:
With features such as predictive analytics, real-time performance monitoring, and trend analysis, Solonis enables users to gain a deep understanding of their business performance. Furthermore, it provides integrations with various property management systems and online distribution channels, ensuring a unified data ecosystem.
Pros and cons
Pros:
- Integrates with various property management systems
- Offers predictive analytics and real-time performance monitoring
- Advanced data analytics capabilities
Cons:
- Requires a learning curve to fully utilize its features
- Some users might find data analysis features complex
- Pricing may be high for small businesses
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.
- Duetto
Best for real-time pricing capabilities
- Roomdex
Best for automated room upgrades
- Intelligence Node
Good for retail businesses seeking comprehensive price optimization
- Vena
Good for revenue planning with integrated budgeting and forecasting
- RateBoard
Good for scientifically calculated revenue management
- Wiser
Good for competitive pricing intelligence
- Revenue Analytics
Good for enterprises seeking custom revenue management solutions
- Duve
Good for enhancing guest experience alongside revenue management
- Kriya RevGEN
Good for hotels seeking a hands-on approach to revenue management
- Pace Revenue
Good for real-time revenue optimization
- eZee Mint
Good for small to medium hotels seeking a simple revenue management solution
- D-Edge
Good for digital marketing and distribution strategies
- Bezla
Good for comprehensive hotel management, including revenue optimization
- RevControl
Good for demand-driven dynamic pricing
- Retalon
Good for advanced predictive analytics in retail pricing
- RateWise
Good for cloud-based revenue optimization
- OTA Insight
Good for optimizing pricing through market intelligence
- Infor EzRMS
Good for large hotels and chains with complex revenue needs
- Beonprice
Good for AI-driven hotel revenue optimization
- RoomPriceGenie
Good for small hotels and B&Bs seeking automated pricing
- Cendyn
Good for maximizing guest value and hotel profitability
- Chargify
Good for businesses seeking a billing platform with revenue operations features
- Revbell
Good for hotels seeking revenue optimization with a focus on guest experience
- YieldPlanet
Good for integrated revenue management with channel management
Other Hotel Revenue Management Software Reviews
- Hotel Accounting Software
- Credit Card Processing
- Asset Management
- Inventory Management
- Central Reservation System
- Business Intelligence
- Upsell Software
- Hotel Market Intelligence Software
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.
Conclusion
In conclusion, choosing the right hotel revenue management software is crucial for your business's success. The ideal tool should streamline your day-to-day operations and provide valuable insights that can help you maximize your hotel's profitability. By considering your specific needs and the key features mentioned earlier, you can find a solution that will truly enhance your hotel's revenue management strategy.
Remember, the best software for your hotel is the one that meets your unique needs and fits seamlessly into your existing processes. Explore the options available and make an informed decision to improve your revenue management process. Happy hunting!