Amateurs cut rates to fill hotel rooms. Pros take more sophisticated approaches, such as coordinating to stimulate demand from the most profitable customers.
The revenue management industry picked an odd time to have an identity crisis, given the opportunity for additional profit that new rate-setting and distribution software could bring.
Following the roadmap of platform-focused businesses like Netflix and Amazon, the hospitality sector is moving toward more comprehensive and personalized online experiences that encompass the broader aspects of travel beyond the hotel walls.
The hotel industry has an opportunity to transform the direct booking process using website personalization. Doing so can help deliver a more efficient and customized booking experience, resulting in better conversion ratios and the opportunity to further cultivate relationships with guests.
The hotel industry is slowly making headway updating its "tech stack" software. While this type of technology has long been focused on helping properties boost revenue, today’s solutions offer a range of cross-functional applications and benefits that can “connect the dots” between a wide variety of business goals.
Duetto has raised more money to ramp up its operations and continue to develop its hotel revenue management platform. The space is crowded, but powerful software-as-a-service tools are needed desperately by hotel revenue managers.