Without an on-site revenue manager, optimizing your hotel’s profits may seem impossible—but worry not! Remote revenue management (RRM) lets you tap into expert revenue optimization from anywhere, so you always have the best strategy for room rates and inventory.
Whether you run a boutique hotel or manage multiple properties, RRM helps you make smart pricing decisions and stay competitive without needing to increase your on-site employee headcount.
Remote revenue managers use cloud-based technology to access real-time data, competitor pricing and market trends from any location to make strategic pricing decisions. It enhances your hotel’s operations as it allows you to:
The main thing to know about remote revenue management is that it’s an effective option to save money and improve efficiency—which explains why so many hoteliers plan to invest in it. According to the Duetto Outlook & Trends 2023 Survey, over 71% of hoteliers intend to purchase a revenue management system.
This widespread interest reflects how valuable RRMs are. Thanks to cloud-based revenue management systems, they let properties optimize pricing and maximize revenue without requiring on-site staff. Expert revenue managers can analyze market data, adjust rates dynamically and implement sophisticated pricing strategies across multiple properties virtually.
The key to making this strategy work is investing in modern hotel management software that gives your team the tools they need to succeed.
Why are hotels moving away from managing prices in-house? Remote revenue management offers impressive benefits! Here’s how:
RRM eliminates the need for on-site revenue management staff. This means hotels can share specialized talent across multiple properties, achieving enterprise-level expertise at a fraction of the cost compared to maintaining separate teams at each location.
Cloud-based RRM systems automate time-consuming tasks like competitive price monitoring, demand forecasting and rate updates across distribution channels. This automation enables revenue managers to focus on more high-impact activities, such as developing market strategies and identifying new revenue opportunities.
Remote revenue management attracts and retains top industry talent by offering location independence and better work-life balance. This flexibility allows you to access expertise regardless of geographic location, ensuring consistent revenue optimization even during staff transitions or peak seasons.
Modern RRM systems aggregate and analyze vast amounts of data—from historical booking patterns and competitor rates to local events and weather forecasts. This comprehensive analysis lets revenue managers make precise, real-time pricing decisions that maximize revenue across different room types, market segments and booking channels.
Remote revenue management lets you set the right prices without hiring more on-site employees — but that's just one piece of the puzzle. Platforms that enhance the guest experience, like Canary Technologies, work alongside pricing strategies to increase your overall revenue.
For example, our Dynamic Upsells software automatically promotes relevant add-ons to guests at the right time, so you can improve RevPAR with every booking. Contact us to learn how our guest experience platform works alongside your revenue management strategy to enhance the guest experience and drive revenue.
Everything you need to perfect the guest journey, boost revenue, and automate processes….
