Revenue Management Systems (RMSs) generally analyze a combination of historical room rates, competitor rates, and market demand by predicting consumer behavior, to provide rate recommendations.The sector faced some challenges when Covid hit, as much of the historical data became useless to forecast future trends, but it has also clarified the need for strong revenue management software to many hoteliers.
The RMS vendor landscape is diverse. While there are a number of companies that are fully focused on offering revenue management tools, there are many other vendors which at their core are not RMS vendors, but offer some pricing or rates tools. Also, in terms of the philosophy around how pricing should be managed, vendors differ considerably. Some RMS vendors focus heavily on auto-pilot features which require no input from the hotelier, while others only make recommendations which still need to be actioned by the hotelier or revenue manager.
More discussions on the most important trends and developments in the RMS space can be found in our report The Revenue Management Systems Landscape 2019. This report, instead, provides a discussion of the vendor landscape, providing insights into the penetration of RMSs in hotels, the total market size and potential of the space, and an extensive list of vendors.
Data in this report is accurate as of December 2021. For the latest updated information, Skift Research subscribers can access our Hotel Tech Benchmark dashboard, which is updated periodically as we collect more data from hotel tech vendors.
What You'll Learn From This Report
- Total annual revenues for the RMS tech category
- Growth potential for the category, expressed in U.S. dollars
- Market shares for 31 RMS vendors, based on the amount of hotels and rooms they service
- Market share split by third party and hotel brand proprietary systems
- Breakdown of revenue streams for third-party vendors