Boost Profit with Tailored Solutions for Every Hotel Type
Let’s play a game.
Below are two truths and a lie. Can you pick out the false statement?
- Hotels come in a million different shapes and sizes.
- Your business has a unique set of challenges and needs.
- Any Revenue Management System (RMS) is equipped to manage those different hotel types.
(Look, we didn’t say it would be a difficult game.)
If your current RMS isn’t meeting your needs, or you’re in the market for a new one and are failing to find one that really understands your business, you’re not alone. Many legacy RMSs target a specific type of hotel and expect the user to adapt to the system as opposed to the system adapting to support the user. And we think the modern hotelier deserves better.
Revenue Analytics has a long history in the revenue management world. Revenue Analytics started as a consulting firm, and as a result, we are well versed in understanding each business’s specific challenges and creating unique solutions for them. We built N2Pricing™ RMS as an off-the-shelf solution for hoteliers that maintained the flexibility our clients had come to rely on over the years. Read on to discover some of our favorite N2 features.
Something for everyone
If you are a sleeping room rental accommodation of any kind – whether that’s an all-inclusive resort, a convention hotel, or even a timeshare – then N2Pricing has a feature designed specifically to support what makes YOUR business unique.
Feature: Intraday Booking Curves
Who it’s for: Properties that experience a lot of same-day bookings
Do you see a lot of same-day demand? Then it’s critical that you have access to real-time data. N2 utilizes intraday booking curves that update the demand forecast as data comes in from the PMS. That means you can effectively make same-day pricing decisions and ensure that you are optimizing profit. Plus, N2 gives you the flexibility to custom configure the run schedule, down to the property level. Instead of relying on a once-a-day data update, you can reoptimize at the time(s) that make the most sense for your business.
Feature: Group Price Optimization
Who it’s for: Large resorts and convention hotels
N2’s Group Pricing module is so much more than a displacement analysis – it’s all about profit. Group Pricing looks at total group spend, including food and beverage, space rentals, and more – with a profit margin applied, of course. Plus, N2 equips you to handle quotes and negotiations with ease, giving your sales team all of the information they need to quote with confidence.
Feature: Timeshare Forecast
Who it’s for: Properties with timeshare inventory
Anyone operating in the timeshare rental space knows that it’s a unique, often challenging market. Inventory varies widely from night to night based on unpredictable owner usage, which means you can’t rely on last year’s demand to build your forecast. N2 solves this in a unique way, accounting for this variability in inventory and blending different algorithms to produce the most accurate timeshare rental forecast on the market.
Feature: All-Inclusive Pricing
Who it’s for: All-inclusive resorts
N2 enables you to effectively manage all your different resort offerings with ease. With the All-Inclusive Pricing feature, you can be sure that you’re capturing demand and optimizing profit, whether your customer is purchasing an all-inclusive package or a European Plan (EP – room only). Once you set your anchor rate plan and determine setup pricing strategy in Dynamic Differentials, N2 executes it automatically in the background.
Feature: Spill Forecast
Who it’s for: Clustered Properties
If you have several properties in close proximity whose demand affects one another – i.e., when one property fills, bookings spill over to the next property in line – then this feature was built for you. N2 learns how one property’s demand affects another in your portfolio based on a machine learning, attribute-based forecast. For example: in the past, when demand was high for Hotel A, it drove demand for Hotel B. N2 understands this and adjusts the demand forecast – and corresponding rates and restrictions – accordingly, ensuring you proactively capture that demand (and optimize profit while you’re at it).
Feature: Expertly-tuned Parameter Calibration
Who it’s for: Everyone!
While the features above were built with certain property types in mind, the functionality at the core of N2 was built for everyone. The user interface will look the same for all properties – clean, intuitive, and extremely user-friendly – but the parameters behind the scenes were built to be adapted to ANY unique property type. By meticulously adjusting hundreds of parameters related to forecast, pricing, inventory, and more, the N2 team ensures that the system is perfectly calibrated to your business – regardless of what kind of property you manage or demand patterns you see.
There’s more where that came from
N2Pricing is robust, yet flexible. With modules built to support specific business models and behind-the-scenes parameters specifically calibrated to each property, N2 automates processes and optimizes profit across your entire portfolio. And this is just the beginning! The N2 team is constantly innovating, and we have exciting features on our future roadmap that we cannot wait to share with you.
If you have a unique business problem that you don’t see addressed here, or don’t believe that N2Pricing (or perhaps any RMS) would work for your property, then we want to hear from you! Connecting with industry experts and understanding their challenges is how we continue to improve. Maybe the next N2 module will be built specifically for your business model!
To learn more about what N2Pricing has to offer, or to share your experiences with us, connect with an expert on our team.