Hotels Generate Ancillary Revenue Opportunities with RealTime Reservation and SAS Analytics
Long Island-New York – The pandemic has been a time of great difficulty for the hospitality industry, but also a time of great innovation. Hotels and resorts have become more creative than ever to deliver exceptional guest experiences through new revenue streams. More than 500 hotels and resorts worldwide use RealTime Reservation to provide new ways for guests to interact with on-site services through a seamless system. Guests easily book activities and amenities such as spa packages, parking, poolside seating, food and beverage, recreational activities. The result is increased incremental revenue and improved customer satisfaction and loyalty.
Going even further, RealTime Reservation is working with analytics leader SAS to apply advanced analytics to the vast amounts of ancillary revenue data it collects from its pre-arrival hub. The resulting intelligence will help hoteliers develop informed ancillary revenue plans by answering questions such as; What is the optimal price for a cabin on different days and times? Which add-on experiences resonate best in the market? Should a hotel focus on high occupancy or ancillary services when staffing is an issue? And when planning a new hotel, should you devote space to spa services and poolside amenities, or develop coworking offices?
“SAS has done an amazing job providing the hospitality industry with prescriptive analytics on a global scale for decades,” says Shawn Tarter, CEO and Founder of RealTime Reservation. “Working together, we will leverage never-before-seen ancillary revenue data, providing hoteliers with comprehensive reports on where they should focus to maximize revenue through their own amenities and operations.”
“RealTime Reservation and SAS will provide ancillary revenue benchmark reports to the market,” said Chris Knothe, senior industry consultant at SAS. “Extracurricular services, including on-site amenities, and their impact on revenue is an important aspect of managing growth and maximizing profitability on the path to ‘Total Revenue Management’. RealTime Reservation is a leader in this field and together we will be able to provide insights that hotels and resorts will find especially useful and important when optimizing ancillary profit centers.
The new service offered by RealTime Reservation and powered by SAS will be called ARROW (Ancillary Revenue Reporting Optimization Worldwide) and will be officially presented at the Hospitality Industry Technology Exposition and Conference in Orlando. ARROW is expected to be available later this year. You can find RealTime Reservation at booth number 947 at HITEC.