There’s a reason why hoteliers are hoteliers – they are fun and hospitable people who enjoy working with and for others.
And there’s a reason why software developers are software developers.
Each plays to their own strengths.
At Duetto, we have an amazing combination of both, and it has helped us to create the only independent revenue management platform fully focused on the hospitality sector. However, our amazing customer success team, with all their combined years of hospitality expertise, would never try to teach our developers how to code!
We understand that our revenue experts and the on-property revenue teams that they support need to be laser-focused on digitizing and connecting the entire customer experience, to ultimately drive a level of pricing personalization that other hotels can’t emulate.
So, for those hotels thinking of adding software development into their remit, here are 5 reasons to buy rather than build.
5 Reasons to Choose A Revenue Management System
While there are dozens of reasons to “ditch the itch” to build your own RMS, here are five clear mandates that should lead you to consider a commercial off-the-shelf RMS:
1) Integrations. Booting up your home-grown RMS won’t do you much good if it’s not directly connected to PMS, CRM, CRS, and other systems that are needed to power your operational and customer decisions. Duetto has 100 real-time integrations to other systems, and we work directly with our partners to certify and continually enhance these integrations. This ensures you are always working from the latest data.
2) Cost. Brands and groups with in-house analytic and IT resources are often led to believe that low-code/no-code platforms, open-source software (OSS), and offshore technology partners can help deliver lower-cost solutions vs. what’s available in the market. However, the initial cost of building your own RMS will ultimately be dwarfed by ongoing maintenance, including integrations (see above) and ingesting other data sources; building and testing new algorithms; adding new features and UI innovations; securing the solution; and so on. You may end up spending more time and money on updates and fixes, and less on digitizing and growing your business.
3) Automation. The pandemic eliminated (or furloughed) countless jobs. With demand returning, hotels are scrambling to find resources to handle mission-critical roles like revenue strategy. RMS automation can help here, but it needs to be fully configurable to drive the best results. For example, if you have a single DORM managing multiple properties you need a system that can automate tactical decisions while your DORM focuses on higher-level, strategic decisions. Duetto’s AutoPilot can be turned on for some properties, off for others, or controlled depending on market factors. This allows your teams to strike the right balance between efficiency and ensuring the most profitable outcomes. Developing this level of intelligent, scalable automation in-house takes years.
4) Innovation and Agility. The market is constantly changing, and that means software solutions need to continually evolve and push updates. Solutions built in the Cloud can provide instant updates, ensuring your team is working with the most up-to-date features available. For example, during COVID, we adjusted our algorithm to focus on more recent demand vs. STLY. This short-term forecasting enhancement was rolled out to users within just a few short weeks, helping them better navigate through the crisis.
5) Differentiation. No two hotel businesses are the same. But adopting an off-the-shelf revenue solution will not dilute what makes your business special. Duetto was designed by hoteliers for hoteliers, with a focus on helping hotels readily activate and operationalize their most profitable revenue strategies - not just price based on static BARs, comp sets, or black boxes. You tell Duetto how and when to automate when to re-optimize or override rates, and what restrictions and specific strategies to follow. You can go with pre-built segments we provide or develop your own, and then easily modify them over time. Duetto is your RMS platform - we just do all the heavy lifting behind the scenes so that you can operate your business, your way.
If you are looking to replace legacy, standalone technologies with a new in-house system, consider the five points above carefully. A commercial off-the-shelf solution will save you time in the short term and push your profitability in the long term.
Duetto’s analytic, engineering, customer, and other teams combine deep hospitality experience with top talent from Silicon Valley and other tech-centric regions. This unique people mix enables us to innovate more quickly than our competitors and bespoke, in-house systems. This provides you with the agility you need to react instantly and intelligently to shifts in market and business conditions.
Still unsure whether to build or buy? Contact us today and talk to one of our revenue experts to find out how an off-the-shelf solution could work for you.
Todd Rollin, Director, Product Marketing & Sales Enablement