Yield Management

Yield Management:

Yield management, also known as revenue management, is a strategic pricing approach used to maximize the revenue generated from your rooms or rental units. The Yield Management option assists in pricing adjustments based on the predicted demand to optimize revenue.

Please note, the Yield Management feature is activated only in the latest Easy WebRez version 4.0. Please contact GraceSoft support to verify your Easy WebRez version or to request an upgrade.

To Access:

Go to setup>>Front Office>>Accounts>>Discounts.

A new window will appear. Choose “Yield Management.” Click on “Add” to create a new rate adjustment criteria.

Occupancy-based Yield:

If the occupancy is high, the system will increase the rates to maximize revenue. Conversely, if the occupancy is low, the system will decrease the rates to attract more bookings. This dynamic pricing strategy ensures optimal revenue and occupancy rates.

1. Account Code = pre-defined account code number
2. Account Item Name = Define a name for the yield criteria.
3. Discount Mode = Select “Yield Management” from the drop-down.
4. Yield Mode = Choose the Yield mode, “Occupancy” from the drop-down.
5. Set the Occupancy range in the:
6. From Occupancy and To Occupancy field.
7. Set the Occupancy type to “Percentage” or “Flat rate”.
8. Choose the variation either to “Decrease” or “Increase”
9. Then enter the “Amount”.

Add another row by clicking “Add New” according to the occupancy range.

Or you can remove the row by clicking on “Remove”.

10. Applies To = Web Booking (EWR) This Yield will apply only for online booking; by enabling this, every online reservation will apply this discount to the room total based on the occupancy percentage.
11. Set the date range and days, so that it will work on the enabled date and days.
12. Applies To =Rooms or Room Types. Select either “Rooms” or “Room Types”, to apply this yield for all or specific rooms or room types.
13. Account Status = Enabled the status and “Save” it.

How it works in the reservation:

• Make an Online reservation (Yield Management works only in latest Easy WebRez version 4.0)

https://apps.gracesoft.com/EasyWebRez/roomdetails/”property-id”.

• Choose the room and date range.

• For example, if the selected room occupancy percentage is within 0 to 26%, it will apply a discount of 5% to the room total.

• Now, complete the booking and go to Easy Innkeeping.
• The Online reservation will display in the “Reservation List”.
• Click on the reservation and go to “Billing” tab, the occupancy-based yield discount line item will be applied.