METHOD AND SYSTEM FOR REVENUE MANAGEMENT SYSTEM BASED ON MARKET PRICING

摘要

The method according to a preferred embodiment of the present invention allows a comprehensive and unbiased analysis on hotel prices for a market. It allows to position a particular hotel vis-a-vis the market characteristics where it is located. This market price analysis is integrated into a revenue management system in order to update price recommendations based on market elements which are external to the hotel. The method according to the present invention poses no limit to the number of competitors against whom the hotel own rates are benchmarked, its purpose being to provide a global market vision. Hoteliers do not even need to figure out whom they are competing with. The method provides new analyses on market trends and it allows the hotel user to truly position his property vis-a-vis the market over time. At last, it provides insightful recommendations based on user rules which are self explainable.