The Best Hotel Revenue Management Software in 2024

Hotel revenue management software is not created equally. Depending on your hotel’s goals and your existing tech stack, the so-called “best option” might, for you, be completely wrong.

In this article, we’ve evaluated and compared the leading hotel RMS to provide insights on which of them is right for which hotels. By looking at average pricing, feature sets and integration capabilities, we’ve aimed to shorten your due diligence and allow you to make a quick decision.

Here goes.

Overview of Leading Hotel Revenue Management Software

A number of revenue management systems are now available for hotels of all sizes, all of which use the latest technology to increase bookings and profitability. By being better able to optimize your hotel’s performance, your profitability will increase, often with very little effort. Let’s take a look at some of the best revenue management software options available right now:

1. Cloudbeds’ Pricing Intelligence Engine (PIE): Best for comprehensive pricing intelligence
2. Atomize: Best for real-time rate optimization
3. BEONx: Best for AI-driven strategic management
4. Beyond: Best for short-term rental properties
5. Climber: Best for small to mid-sized hotels

These software options are all reputable options that can help you optimize your revenue and maximize your bookings.

#1 Cloudbeds – Best for comprehensive pricing intelligence

Pros of using this tool include:

• Integrates with a suite of Cloudbeds’ property management tools
• Provides real-time data
• Offers extensive competitive tracking and market trend updates
• Includes an all-in-one insights dashboard
• Sends automated pricing alerts

Cons:

• Slightly complex for beginners
• Limited to integration with Cloudbeds’ suite for optimum performance

The power of Cloudbeds’ PIE includes:

• Tracking up to 15 competitors
• Gleaning insights from an all-encompassing dashboard
• Utilizing automated alerts to optimize rates
• Pairing with Cloudbeds’ ecosystem

This is a very popular product among both small and larger hotel establishments. Perhaps the only complaint about it is since there are so many features, learning them all can be difficult and time-consuming. The learning curve is steep, so make sure you give yourself enough time for full data migration.

Pricing:

Cloudbeds pricing is attached to two different packages: Cloudbeds Pro and Cloudbeds 360. Pricing is not available on the website, but you can inquire for more information and pricing details. There is, however, some information to be found online regarding their pricing. The pricing packages start at 2.9% per customer with an additional 30 cents per charge.

Rating:

• Pricing Intelligence: 5/5
• Integration: 4.5/5
• User Experience: 4/5
• Support and Training: 4.5/5

#2 Atomize – Best for real-time rate optimization

Pros:

• Fully automated rate changes in real-time
• Pricing strategies projected up to two years ahead
• AI and machine learning available
• Notable increase in RevPAR and overall revenue

Cons:

• A steep learning curve for leveraging advanced AI capabilities
• More suited for larger properties with extensive datasets

Atomize has come to the forefront of hotel revenue management software due to its use of AI and machine learning in hotel pricing. Its ability to project strategies years ahead and adjust rates in real-time keeps hoteliers looking into the future. The software’s track record of elevating RevPAR is unparalleled, which is why it has such a stellar reputation among revenue management professionals.

Price: 

Pricing for this product is not available online, but you can book a demo from their website where you can also obtain pricing upon request. Additional online sources show that this product starts at $499 per month.

Rating:

• Real-time Optimization: 5/5
• Long-term Strategy: 4.5/5
• AI Capabilities: 4.5/5
• Revenue Impact: 5/5

#3 BEONx – Best for AI-driven strategic management

Pros:

• AI-powered platform for precise pricing
• Hotel Quality Index for Guest Retention
• Market and channel segmentation capabilities
• ‘Magic dashboard’ for real-time performance monitoring

Cons:

• Too complex for properties new to RMS
• Suited for hotels with a data-driven management focus

BEONx offers the following features:

• AI-powered pricing strategies
• Integration of the Hotel Quality Index
• Segmentation capabilities for targeted pricing strategies
• A “magic dashboard”

While all of these features are incredibly powerful, the truth is that BEONx’s AI-driven arsenal can be overwhelming for newcomers. If your business is new to the RMS arena, you might want to consider a different choice or make plans for substantial in-house training.

Price: 

There is no pricing information available on the website, but you can request more information from their site. A simple search online showed that their pricing model seems to be fairly dynamic, so there is no fixed fee associated with any specific package.

Rating:

• AI Strategic Management: 5/5
• Integration Capabilities: 4.5/5
• User Interface: 4/5
• Support and Training: 4.5/5

#4 Beyond – Best for short-term rental properties

Pros:

• Tailored dynamic pricing
• Increases conversion rates on direct booking sites
• Helps achieve significant annual revenue growth

Cons:

• Specific to short-term rental market, not to traditional hotels
• Requires market data proficiency

Beyond is not a mere RMS; it’s a specialized compass for short-term rental properties, pointing directly to the treasure trove of dynamic pricing success. With the potential to bolster annual revenues by up to 40%, Beyond is a beacon for property managers seeking to amplify their direct bookings. While it charts a course specific to the vacation rental sector, its prowess in harnessing market data can transform a modest venture into a veritable gold mine of room revenues.

Pricing:

This is one of the few revenue management software solutions that provides information regarding pricing on its website. It is available in three packages: Growth, Pro, and Performance. The Growth package is priced at 1% of bookings. Pro is priced at 1.5% of bookings but comes with more features. The Performance package is priced at 2% of bookings but comes with additional features such as a dedicated revenue management team.

Rating:

• Market Adaptability: 5/5
• Revenue Growth: 5/5
• Target Market Focus: 4.5/5
• Ease of Use: 4/5

#5 Climber – Best for small to mid-sized hotels

Pros:

• User-friendly interface
• Highly effective for revenue management
• Celebrated support team for ongoing assistance

Cons:

• Fewer advanced features for larger hotels
• Best for small to mid-sized hotels

Climber is designed for small to mid-sized hotels, offering a user-friendly interface and a level of efficiency that is not really suitable for larger establishments. It is a powerful tool for independent hotels that are looking to master their revenue streams. While Climber excels in its niche, larger establishments might require more advanced features than this product can offer.

Price: 

There is no pricing information available on the Climber website, but you can request a quote. Other sources online show that the most basic package that Climber offers starts at $4.00 per month per bed, though that information should be verified before purchasing this product.

Rating:

• Small Hotel Optimization: 5/5
• User Experience: 4.5/5
• Feature Set: 4/5
• Customer Support: 5/5

Key Considerations When Choosing Hotel Revenue Management Software

In order to choose the best RMS program for your hotel, you will first need to discern your hotel’s unique needs, from the number of rooms to the number of target markets. Features such as comprehensive training and support, flexibility in pricing, and the potential for growth are going to be important to consider when you are making your decision.

Another factor to consider is the reputation of the software provider. Take the time to analyze reviews and determine if an RMS has the ability to grow with your business. Although cost will be a significant determinant in your decision-making, it should not be the only one.

Summary

With all of these options to choose from, you have some work in front of you! Determine what you are looking for and then try to match a program that fits your needs. From Cloudbeds’ PIE to Climber, each RMS offers a unique set of tools to navigate the ever-changing world of the hospitality industry. 

Frequently Asked Questions

What is the main purpose of revenue management software in hotels?

The main purpose of revenue management software in hotels is to analyze market conditions, track demand, and set optimal room rates.

How does revenue management software help hotel operations?

Revenue management software helps hotel operations by providing real-time data analytics, automated pricing recommendations, and integration with other hotel systems.

Can revenue management software integrate with other hotel management tools?

Yes, modern revenue management software can often integrate with a variety of hotel management tools. This can help to streamline operations and enhance effectiveness. 

Is it possible to try revenue management software before purchasing?

Yes, many providers offer free trials or demos that allow you to assess the software’s usefulness. This is a great way to learn more before making a decision.