Frequently asked questions
How can the rate RMS help my property?
Our Revenue Management Software (RMS) has been designed to save you time and is extremely user friendly. We use your own rate strategy, PMS data and competitor data to help make your rate strategy quicker and more efficient. Using an RMS saves valuable time when it comes to hotel revenue management and creates a more efficient work process for you and your team. It allows you more time to work on strategy and a high-level overview.
What kind of properties is the Rate Wise RMS suitable for?
We work with a variety of property types from city centre budget hotels to 5 star golf resorts and everything in between. Once your property has at least 25 rooms and a PMS in place we’ll be happy to discuss how we can work together.
How much does Rate Wise Cost?
Our pricing is dependent on the elements of our software you’re looking to use as well as the size of your property, and we also have a pricing model for our Software & Consultancy package. Please contact us for more details.
What other services does Rate Wise provide?
Rate Wise offers a Revenue Management Consultancy Service. With consultancy, you get all of the benefits of our software as well as your own dedicated Revenue Strategist and a Revenue Support Specialist. They advise and can action a whole range of ways to help you grow your revenue & reduce your distribution costs.
Can Rate Wise RMS integrate with other systems?
Rate Wise has integrations with a number of PMS Systems and channel managers. Our development team is constantly working on expanding our list of integrations so if your systems aren’t listed, please contact us to find out how we can still work together.
Is my data safe with Rate Wise RMS?
All data we receive is securely held on Microsoft Azure Cloud based servers located in Microsoft’s data centres in Northern and Western Europe.
Does the RMS have to be connected/integrated with a PMS or channel manager in order to work?
Another advantage of Rate Wise is it can be used as a standalone system so if you choose not to integrate it with PMS or Channel Manager or if a full integration isn’t currently available you can still use this software. Contact us for more information and we can talk you through this process.
How long does it take to get the RMS set up and ready to use?
We aim to have the system up and running and training complete within 2 weeks of your contract being signed.
What kind of training is available for my team?
Training is provided by our Client Support Specialists and is available for as many team members as you need at no extra cost to you.
What support is available once my RMS is up and running?
How can I arrange a demo of the Rate Wise RMS?
What is a revenue management consultant?
Our revenue consultants provide an outside perspective and specialised expertise. The first step is to gain an understanding of how your organisation operates and then determine what steps can be taken to maximise performance or results. Our team will review your current rate strategy, historical data, and provide advice on how to maximise revenue. Together, we will grow your hotel to its full potential.
How often do you communicate with us?
You will receive daily guidance and advice from your dedicated, experienced account manager. Your account manager will oversee your hotel's revenue management function, ensuring all decisions are implemented quickly and they will continuously review and update actions. Each month, we will review your previous month's performance and forecast your future performance. This information will be used to make an action plan for the upcoming months. Both parties will have clear goals set for the following months ahead.
What do you need to communicate with us?
The relationship we build with our clients is very important to us at Rate Wise. As our monthly hotel performance reviews are detailed, we primarily communicate with your hotel's decision-makers.
I am concerned about sharing my data. Can you reassure me?
Here at Rate Wise we acknowledge that we have a responsibility to maintain the confidentiality of all proprietary or confidential information or data developed by Rate Wise or disclosed to us during and after its appointment. An agreement of confidentiality will be signed by each party.