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RoomPriceGenie RMS announces a new group displacement calculator
The new tool makes which makes it possible for hoteliers to determine whether accepting a group booking is financially beneficial
RoomPriceGenie – a leading provider of revenue management systems (RMS) for independent hotels and groups – is proud to announce the launch of a new group displacement calculator built-into the award-winning RMS, which makes it possible for hoteliers to determine whether accepting a group booking is financially beneficial, by comparing forecasted transient revenue to the proposed group rate.
The RoomPriceGenie group displacement calculator gives all the commercial departments – sales, marketing and revenue management – access to a singular view of the data necessary to make data-backed group booking decisions, quickly and easily – all within the RMS – simplifying their workflow, unsiloing the property’s data and minimizing time-consuming interdepartmental communication that could result in losing the group booking opportunity.
The RoomPriceGenie group displacement calculator, enables hotels to:
- Forecast displaced revenue if the requested rooms were sold individually.
- Compare profit margins based on group pricing and discount options and suggest the price that would be most profitable.
- Make data-based decisions on whether to accept a group booking based on the potential earning opportunity from both.
- Quickly respond to group enquiries with data-backed quotes to boost group conversion rates.
- Retrieve, edit, and track past group quotations in seconds, and add notes and status updates (as needed).
Despite being an automated, built-in feature, hoteliers always retain full control over their rooms and pricing using the RoomPriceGenie RMS, as recommendations offered by the group displacement calculator can be manually overridden if they don’t match the property’s business goals or strategies.
“Group displacement has been one of the most requested features by RoomPriceGenie’s clients, especially by those with multiple properties or groups, so we are especially excited to be launching this feature,” said Chas Scarantino, CEO of RoomPriceGenie. “In today’s uncertain times, hotels need to be able to earn the most ROI from each of their operational solutions, which should be enabling them to accomplish more with less staff, streamline their operations and maximize revenue opportunities. Our new group displacement calculator provides hotels with data-driven recommendations on the best way to create and sustain long-term profitability, both from the group and transient segments, and makes it quick and easy to do.”
