Pricing tool or revenue dashboard: what is the difference?
More than 30 years in hotel rooms division, from hostels to five-star chain hotels; focused on revenue management since 2009.
A pricing tool, such as RoomPriceGenie or RevControl, recommends or sets your room rates. A revenue dashboard, such as RevView, shows and explains your results: revenue, occupancy, ADR and RevPAR against last year and budget, net of commission. They answer different questions, and they work side by side.
Two different questions
- Pricing tool: what should my rate be for each night?
- Revenue dashboard: how am I doing, what changed, and why?
Why price alone does not explain a weak night
A night can stay empty for six reasons: the room was not for sale (for example a minimum stay blocked it), guests could not find you on their channel, there was little demand in the city, guests chose another hotel, the rate did not fit the demand, or the margin after commission was too low. A pricing tool works on one of those six. A dashboard shows which one it was.
How they work together
Your pricing tool keeps setting rates. RevView reads the results from your booking system and shows whether the rates worked: per month, per night, per channel, net of commission and against last year. RevView never changes your prices.
When you need which
- You want rates that move with demand: a pricing tool
- You want to know what you earned, what changed and why: a revenue dashboard
- You report to an owner or a group: a dashboard with a weekly report
Questions
Does RevView replace RoomPriceGenie or RevControl?
No. RevView works next to your pricing tool and never changes your rates.
Do I need a pricing tool to use RevView?
No. RevView reads your booking system directly, with or without a pricing tool.