Must Have or Luxury?
|June 15, 2004 - In today’s fast-paced hotel world, revenue managers
face the daunting task of having to set prices for highly perishable inventory
in multiple distribution channels for constantly changing demand. Maintaining
rate integrity while maximizing online exposure has become a real challenge
in hospitality cyberspace.
Maximizing online market exposure by working with as many Internet providers as possible, still translates into increased bookings. However, reality is that many cutting-edge, new-millennium hoteliers actually limit their number of web partners to only a handful or less.
The reason for such self-imposed marketing abstinence is rather old-fashioned: updating third-party extranets is too difficult, too confusing and too time consuming. Each website differs in login procedures, markup methods, rate entry protocols, allocation requirements, price rounding formulas, discounting rules and more. In short, yield management has become unmanageable – it’s too much work!
However, in a competitive climate, limiting online exposure can backfire and lead to painful loss of market share. As time-crunched revenue managers look for solutions, new developments in yielding software are being monitored closely. Currently, there are two products on the market that allow one-stop yielding across multiple websites, one of them is Yield-O-Matic™.
Yield-O-Matic™ can currently be acquired in two ways: for a fee - or as a complimentary support tool for “Hotel Kingdom™ Partners.”
“Our main business has always been the marketing of excess hotel inventory at a very modest mark-up. Yield-O-Matic™ was originally designed as an incentive for our loyal hotel partners to keep working closely with us,” states Christina Winston, co-founder and COO of Hotel Kingdom™. “Our trade-off is increased bookings on our site, as we can offer competitive rates and instant confirmations. However, hoteliers who choose not to use our website for reasons of corporate restraints or otherwise, are still able to take advantage of our time saving software. They can purchase Yield-O-Matic™ for a reasonable price.”
But why buy when you can get it for free? Becoming a Hotel Kingdom Partner is easy: allow Hotel Kingdom™ to book your hotel through www.hotelkingdom.com, keep rate parity, and issue a year-round allocation - that’s it. In return, enjoy free access to Yield-O-Matic™, and manage your rates and availability simultaneously across multiple major websites via an interface on Hotel Kingdom™’s extranet. So far so good? It gets even better:
Yield-O-Matic™’s friendly contractual terms allow you to cancel cooperation at any time. Arthur Winston, co-founder and CEO of Hotel Kingdom™ explains, “We prefer to serve on the merit of our product. Our Hotel Partners stay with us because they benefit from our mutually symbiotic relationship, so we both prosper.”
“Yield-O-Matic™ increases the appeal of our website HotelKingdom.com,” says Rick Rivera, Director of Sales. “The complimentary yielding perk draws more hotels to our site. This leads to more choices for the consumer who appreciates one-stop-shopping for up-to-date rates with instant confirmations.”
Back to the question: Yielding Software - Must Have or Luxury?
Maybe the luxury of using yield management software as a support tool finally became an affordable must with the introduction of Yield-O-Matic™…
For more info on how to sign up and become a Hotel Kingdom Partner go to www.hotelkingdom.com/enroll/enroll.asp
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