Pelican Systems is launching its new “Flexi-Package” innovation for Hoteliers: a system application to Yield Management/Revenue Management.
In the industry today, selling hotel room as a package are a common tool for raising revenues, and they are attractive to travel consumers as “a good deal”. Packages offer advantages both to the hotel - in selling additional items other than rooms or in motivating customers to stay longer - and to the customer, who gets a great deal on an attractive package rate. In fact, an appealing pricing strategy is what’s behind such package offers.
Being an integral part of a hotel’s overall pricing strategy, a package design must be precisely and intelligently constructed to reach better yields and maximize revenue. Yet, in the practice of yield management (also known as ‘revenue management’), prices are set out in great detail, and may vary at times during the course of a single day. Nevertheless, this doesn’t mean yield management is irrelevant to package creation. Here is where Pelican “FLEXI-Package” feature can be of assistance.
Pelican Flexi-Package makes it possible for a hotel that already has a strategic plan for yield management/revenue management in place to create packages that can flexibly adjust to changes. Changes such as room rates per market segment and per room type, number of adults and children, other selling items that set will track the package flexibly without management having to recalculate or rewrite a new package.
Hotel, with “FLEXI-Package”, will also able to set booking lead time, minimum/maximum length of stay, close to arrival/departure to extend yielding strategy. This ability will reduce possibility of empty room during high season and maximizing revenue based on guest booking date (last minutes booking or booked few months in advance) - an application of yield management/revenue management.
The “Flexi-Package” feature not only offers efficiency in designing packages, but also reduces the potential peril of human error inherent in manual calculations. With a well-established hotel reservation system that has proved to be user-friendly, the addition of the Flexi-Package feature will further enhance efficiency.