Since YieldPlanet’s Channel Manager market entry in 2009, the tool has been constantly developed so as to adapt the technology to the needs and expectations of the hotel sector. All this to provide a better and user-friendly solution.

Today, YieldPlanet’s Channel Manager enjoys the position of one of the most complete online distribution tools on the market, chosen by Revenue Managers in hundreds of hotels around the world.

In our previous article, entitled “Basic features of YieldPlanet’s Channel Manager (part I)”, we analyzed 6 functions of the tool and benefits of using it, i.e.:

• Possibility to manage online reservations from one control point
• Possibility to synchronize the Channel Manager with all data sources
• Price and availability management as well as transferring the availability to the most often reserved room types.
• Support for complex and flexible distribution strategies
• Adaptable to any type of hotel
• Quick implementation of Channel Manager in every hotel

In this article, we will discuss 5 more practical features of YieldPlanet’s Channel Manager.

Basic features of the YieldPlanet Channel Manager

Easy-to-use tool – all in one place and alert system, so you don’t miss anything

Update all prices on channels synchronized with Channel Manager, quickly find everything you need from one interface.

Channel Manager is currently available in 11 languages, making it more user-friendly for users spread all around the world, and new language versions are added along with the tool updates.

User management is another feature that makes the tool easier to use. Hotel manager can create new users directly in the tool and grant each user limited permissions, depending on the specific depending on specific profile of employees. The activity of each user is monitored, with easy access to each user’s operations history, should you need one.

The tool offers various options of notifications about unavailable dates, which simplifies availability management. It also has an alert function for significant system events or required actions. You will also be notified by e-mail about any important issues.

Price control – simple price and rate plan management

Increasing revenues in your property requires constant control, evaluation and analysis of prices, as well as availability in various online channels.

With YieldPlanet’s Channel Manager you can count on a comprehensive tool in your revenue management strategy that will allow you to easily manage your rates and rate plans, and make informed and accurate price decisions.

YieldPlanet’s Channel Manager provides instrument to calculate prices based on complex formulas and provides price grids that allow you to create dozens of different price scenarios and fast price adjustments.

Channel Manager will convert prices Into multiple rate plans based on introduced formulas. Simply select the rooms, rate plans, and enter the mathematical formulas, and the Channel Manager will automatically compute prices for all rooms, reducing the error margin when managing prices.

The Channel Manager also makes possible to individually manage availability of each rate plan.

Global solution – almost 500 integrations to achieve greater coverage

YieldPlanet is integrated with almost 500 channels to help you reach the global market. Our partners are OTA, tour operators, wholesalers, PMS, CRS and GDS hotel systems, RMS revenue management tool, price comparison websites and popular booking engines, which hotels use on their own websites.

We currently support almost 100 PMS systems, simplyfing daily operations of many thousands of properties that can rely on efficient communication between their property management system and the Channel Manager. This communication includes, among others, the distribution of real room availability from PMS into Channel Manager and automated in sending reservations back to hotel PMS.

Customized integrations via API provide opportunity to access new markets easily.Your property can benefit from building its own solution using YieldPlanet’s open API.

Security – a tool ensuring user security in accordance with the PCI and GDPR standards

One of the most important functions of any tool is to ensure secure data transfer. YieldPlanet meets the PCI and GDPR standards by constantly adapting its tools to new challenges in the field of data security.

YieldPlanet’s Channel Manager ensures data distribution protection through minimum and maximum rate caps or limiting availability sent from PMS system or alerting on expired offers.

The tool offers credit card vault for secure credit card storage, preventing possible security breaches.

Reports and analyzes – data analysis to make intelligent decisions

Channel Manager offers advanced analytical functions supporting intelligent decision making regarding rate and availability management.

Channel Manager offers various types of analyzes and reports. In addition to general reservation summary by channels or rate plans, the user can go even further and make a comparative analysis of reservation increase between any selected dates. Such a report makes it possible to compare data from the previous year, indicating increase or decrease in sales in the current period.

The system generates daily reports showing too high values of minimum stay, preventing hotels from lack of reservations on selected dates. Daily reports mentioned highlight unsellable dates due to too high minimum stay entered into the system.

Channel Manager also provides current price, availability, grid level Excel reports, complete reservation import as well as potential distribution errors to be addressed.

Summary

We hope that the analysis of 5 successive functions of the YieldPlanet Channel Manager has broaden your knowledge of the tool focused 100% on maximizing hotel revenues.

By choosing YieldPlanet’s Channel Manager you get an intelligent solution that allows you to manage your hotel online distribution from one control point, providing real-time data and time saving for your Team.

For more information about the YieldPlanet Channel Manager and its functions, please contact us or order a free demo version here:

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Basic features of YieldPlanet’s Channel Manager I part

Currently, over 15,000 hotel facilities in 60 countries put their trust in YieldPlanet’s Channel Manager as the best solution to meet the needs of professionals in the hotel industry in the field of distribution management.

With the advanced capabilities of Channel Manager, YieldPlanet is able to offer the user an intuitive and intelligent solution, 100% focused on revenue optimization and addressing contemporary challenges of online distribution and revenue management that hotels face every day.

Customers who chose our solution can use a versatile tool enabling them to make necessary decisions in the field of management of all hotel channels, helping them increase online sales through both OTAs and direct sales.

Below are the basic features of YieldPlanet’s Channel Manager and we explain how its individual functions will help in the more efficient implementation of revenue management strategy and online distribution of your hotel, regardless of its size and location.

Basic features of YieldPlanet’s Channel Manager

1.Centralized solution – management of all online reservations from one point of control

YieldPlanet’s Channel Manager enables centralized management of online reservations from one point of control. The modular structure of the tool allows you to use the functions you need and activate additional features depending on your needs.

With this unified solution, your hotel gets a unique tool that will allow you to easily monitor online sales, help increase efficiency and reduce the number of errors occurring in day-to-day channel management.

Channel Manager is adapted to support two-way reservation communication, both for downloading reservations from OTA systems, as well as making reservations available for PMS systems. Reservations made in online reservation systems can be automatically transferred directly to your PMS.

With our Channel Manager you will be able to save time and easily analyze the data concerning your online reservations. You will get consistent results that will help you quickly improve the online position of your property, increasing your revenue and maximizing benefits.

2. Data synchronization – easy communication of YieldPlanet’s Channel Manager with all your data sources

Improve your daily work by data synchronization from various sources with YieldPlanet’s Channel Manager.

This function will allow you to synchronize all data of your property with hundreds of OTA and GDS channels, as well as your own website. Responding quickly will not let you miss market opportunities, minimize errors, minimize the risk of overbooking and discrepancies in prices of rooms and packages of your hotel.

The availability and price management function allows you to set separate price values for each channel or individual channels instead of sending the same data to all distribution channels by default.

3. Automated tool – price and availability management and transferring the availability to the most popular room types.

YieldPlanet’s Channel Manager saves time and work through channel management automation. The hotel, where all processes are automated, generates higher revenues and minimizes overbookings.

In day-to-day management with the help of the Channel Manager, you will notice that when your rooms are no longer available, YieldPlanet will automatically close availability all channels and notify you by e-mail. This way you can be sure that in day-to-day management you have complete information about the changing availability of your facility.

As part of the distribution optimization tool, YieldPlanet also offers the option of intelligent distribution based on a flexible approach to the room category. With higher demand for rooms in one category, it is possible to transfer the availability to this category from other room types.

4. Intelligent Channel Manager – support for complex and flexible distribution strategies

YieldPlanet’s Channel Manager is a tool that enables precise and efficient development of complex and flexible distribution strategies, thanks to which you operate quickly in a dynamically changing environment.

Individual functions of YieldPlanet’s Channel Manager will allow you to quickly assess the performance of sales channels connected to your Channel Manager, providing real-time reservation and revenue data.

The revenue rules function allows you to program actions to be taken in the event of specific increases or decreases in availability. For example, with low availability, you can set a price increase by a specific number or percentage, or close all OTA channels to sell the last rooms only through your own website.

Monthly performance of your hotel will be much simpler to measure with Channel Manager. YieldPlanet enables immediate access to reservation analysis and revenue generated.. It displays real-time data on the occupancy and the general reservation status, by room type or at a specific, selected date. You can also monitor your offer and competitors’ on OTA search results, in order to get a better picture of your hotel positioning.

5. Highly flexible tool – adaptable to any type of hotel

YieldPlanet’s Channel Manager is the most flexible tool on the market.

The tool easily adapts to the needs of hotels of all sizes, both small independent properties, as well as large chain hotels. Due to its easy adaptation to individual needs, Channel Manager technology is currently used by over 4,000 customers of various sizes and 15,000 properties in over 60 countries.

Its functions offer the user the ability to manage channels in the best possible way. For example, price grids allow you to create several dozen different price scenarios and changing rates quickly whenever you want. This is one of the most advanced ways of price management through Channel Manager.

6. Available and easy to configure tool – quick implementation and setup of YieldPlanet’s Channel Manager in your hotel

Implementation and setup of YieldPlanet’s Channel Manager is easy. All hotels receive technical support from the moment they purchase the Channel Manager.

YieldPlanet implementation department provides support to hotels that use a different provider and secures quick and trouble-free channel manager change. Through online staff training courses and assistance with system setup, the implementation of the channel manager in your hotel can be very quick.

By choosing YieldPlanet’s Channel Manager you can be sure that you will use an affordable tool for online distribution management. YieldPlanet Channel Manager is a product at a favorable price, available at fixed monthly, quarterly or annual fees payment scheme..

For more information about YieldPlanet’s Channel Manager and its functions, please contact us by ordering a free demo version here:

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Regaining control over own room pricing in OTA channels is one of the biggest challenges facing the hospitality industry. While over a decade ago, when Internet sales channels were still in their infancy and cooperation with OTA was a chance to increase occupancy rates and improve profitability, today it is considered a necessity without which it is impossible to operate on the market. Why are hoteliers losing in the fight against industry monopolies, and can this be changed? 

The dynamic development of online hotel reservations in the early 2000s was initially very much welcomed by hoteliers, as cooperation with the new booking systems brought measurable benefits in the form of additional bookings and higher occupancy rates. However, as it later turned out, the development of OTA quickly deprived them of the possibility to differentiate prices in different channels and thus the freedom to decide about their own business. At that time, no one could clearly see the threats posed by the booking systems, and even if they were considered, the desire to quickly improve and maintain their financial performance was usually paramount. What also mattered was that the market was at a completely different stage of development at that time. It was characterized by relatively low price volatility and easy management of the pool of available rooms, which is why hoteliers willingly agreed to sign contracts with OTA. 

In their content, practically from the very beginning there appeared more or less sublime clauses concerning rate parity. What restrictions did such provisions impose on hoteliers? The rate parity is basically a legal agreement entered into by a hotel with OTA, which obliges the hotel to maintain rates in the given OTA at a level no higher than those in other sales channels. That provision clearly shows the direction in which OTA had already taken at that time by allowing discounts for its own customers while controlling the offers published by its competitors. Rate parity more or less meant that in order to grant a discount to one of its business partners, the hotel had to grant the same discount to all the other OTA partners at the same time, despite the different levels of commissions charged by the booking systems. In addition, that restriction applied not only to business partners, but also the hotel itself – even in direct sales it was not able to offer rates different from those charged on partner websites.  

What did this entail for the hotels themselves? First of all, a large loss of control over the business and the outflow of direct customers to OTA, which additionally gained huge market shares after the introduction of their own loyalty programmes. 

The following years are a further increase in the importance of OTA. 

The introduction of rate parity significantly reduced the freedom of pricing policy for hotels and reduced the profitability of many businesses, but very quickly new ways of differentiation began to emerge, namely – the lowering of prices by OTA. We are talking about opaque pricing, among others – a practice still popular among US booking systems, such as Priceline. This is one of the types of circumvention of rate parity that allows hotels to sell rooms at a hidden, lower price. The customer who decides to buy first defines their preferences (e.g. location, hotel standard and date of stay) and then selects a specific option based on the price only. The name of the hotel is disclosed only after the payment has been made, and it is no longer possible to change or cancel the booking. This is nothing more than the proverbial buying of a pig in a poke. However, this strategy has some advantages. It allows hotels to sell empty rooms without suffering image and legal damage associated with rate parity. 

Another enormous development was the emergence of opportunity to create OTA promotions, i.e. to offer more favourable terms to customers who book well in advance (first minute, last minute), or book a stay in the hotel for longer. In addition, free accommodation for booking a certain number of rooms or a certain number of days at a time has become commonplace. Those OTAs which had not developed the possibility of creating extensive promotions began to lose their importance as they could not demand rate parity from hotels without offering at the same the possibility of promotional rates. 

Loyalty programs for OTA customers began to gain in importance as well, which still enjoy great popularity today and helped OTA to gain hegemony in the market. What is most important in this context is that discounts for regular customers are often covered not by commissions but directly by hotel budgets. OTA managed to convince hoteliers that it is worth investing in loyal customers, as they cancel reservations less frequently and spend more than one-off customers.  

Of course, this did not stop there – the hoteliers’ pockets were also hit by the bundling of services, i.e. the sale of rooms together with a flight (or other product) at a correspondingly reduced price. Due to the fact that promotions very often combine freely, the already promotional rates are additionally lowered as a result of bundling, making the final price really competitive for the client. Expedia has mastered this type of operations to perfection, thanks to which it is able to offer customers very attractive terms. 

What’s left of it today? 

At present we can say that the rate parity is forgotten or is being forgotten at a satisfactory rate, but that does not mean that hotels can again decide their own pricing policy on their own. The discrimination takes place in the algorithms of the OTA search engines – if a hotel does not offer its partner sufficiently competitive rates, it is pushed down to such distant positions in the rank that its finding by potential customers is hindered. Although it is possible to rely on direct bookings and completely renounce cooperation with OTA, such a strategy is extremely difficult to implement. OTA perfectly used the time of its domination over hotels and today they are not only first choice services for travelers, but also have a huge technological advantage (enabling better price differentiation). It also has what is most important – customer loyalty.  

Hotels and OTA have to cooperate in the process of customer acquisition and service, however, it is OTA that dictate the terms to the hotels today. One thing that helps maintain this state of affairs is loyalty programs. OTA loyalty programs are much more attractive than hotel loyalty programs in the perception of the customer, especially tourist travellers, as tourists do not usually come back to the same place many times, but instead use the same OTA many times. While the programmes of large chains and hotel groups can compete with them, their offer will always be incomparably smaller and often less competitive in terms of price. 

On platforms such as Airbnb, facility owners may in turn give the opportunity to control their own rates to a booking platform through the Smart Prices program, an algorithm that adjusts prices to current demand. This is perhaps the most glaring case of OTA taking control of the price level and a likely trend in the further development of OTA. 

In addition, the industry has to contend with constantly decreasing OTA prices, which is made possible by OTA’s recourse to wholesaler rates. As the pressure from hotels to eliminate this phenomenon is not yet high enough, such actions are becoming more and more common. Everything is done in a way that does not give rise to suspicion – the reservation is made via the OTA website, but it is delivered to the hotel by a specific wholesaler. As a result, the customer can enjoy the competitive price provided by OTA, and the hotel earns significantly less on such a reservation than on a standard reservation made on a partner’s website. 

What’s next? 

Long years of fighting for market dominance have allowed OTA services to gain today’s position in the industry and customer loyalty, which even the best hotel chains can envy. And although the industry is taking some steps to change this state of affairs at least to some extent, OTA services will certainly not give up the battle without a fight. Already today, they exchange data more and more often, which means that hotels have even less influence on the level of prices in individual channels. Hoteliers also have weapons that OTA services do not have. We are talking about the possibility to offer the customers gifts, SPA tickets, free transfers to/from the airport, offering higher room categories, etc. Is that enough? Certainly not for long, as OTA is already developing the technology of selling additional services, which will surely re-invigorate the market. Not without significance for hotels in the coming months and years will be cooperation with trusted technology partners such as PMS, channel manager or RMS, who will provide OTA with the most up-to-date information on prices and availability in real time and will offer hotels operating in their favor mechanisms of calculating and controlling their own rates. One thing we can be sure of – new innovations on the market. 

Do you want to learn more about YieldPlanet Channel Manager? Discover how our Channel Manager can help you to manage prices in your hotel?

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Why does YieldPlanet’s Channel Manager help Revenue Managers to reach higher revenues in the peak season

by Sebastian Andruszczak

YieldPlanet’s Channel Manager enables users a simple and organized room price management. Advanced tools make the process completely automatized and the rates and availability of your property are synchronized with all distribution channels, a hotel’s website and the PMS used in a hotel.

Along with the arrival of the peak season, a team in charge of the revenue management of a hotel must be prepared to sell rooms at the highest possible price in order to increase performance of the property. Channel Manager enables to organize work in advance, thanks to what you can take care of months with a high occupancy rate that are crucial from the point of view of hotel revenues.

In reality, manual rates management in OTA channels might leave some huge room for human errors or omission. A publication of a rate that is too high or too low can have a negative impact on financial results of your property. Too large rate differences between booking systems or uncompetitive rates on a hotel’s website can lead to disorientation of customers and, as a result, to a lack of trust that translates into reduction of occupancy rate of the property.

Rates management in the peak season with YieldPlanet’s Channel Manager

One of the most important aspects of proper rates management at the level of Channel Manager is a proper configuration of price policies in the system. Basically, the price management is carried out in the same way throughout a year, in the peak season however, the automation supports an instant reaction and quicker entry of rates changes to the Channel Manager.

A revenue management department can enter different kinds of rates and restrictions that increase revenues within the periods with a higher expected number of reservations, for example through the use of the stay length strategy.

According to the art of revenue management, the rates management within the periods of increased demand should be started far in advance. Therefore, we recommend to use the Dynamic Pricing. Efficient revenue management requires numerous forecasts. The work with the Dynamic Pricing requires estimation of an approximative demand level for each day, whether it is the peak season or low season. When you set up the rate for rooms for the next year, it does not mean that these rates should not be changed. On the contrary, you have to assume that you will follow the demand for your services and modify the rates frequently until the day when the date in question becomes the current day.

In the event when the demand exceeds the supply, the price for hotel services increases, so the ADR increases too. On the other hand, during periods when the demand is weaker, a lower price enables to reach higher occupancy rates. A proper price modification, taking into account or even having influence on the current demand is a key to increase the profitability of the property. YieldPlanet’s Channel Manager supports a fast adjustment of the prices to the market conditions with a proper adjustment of the tool.

Selected functionalities of YieldPlanet’s Channel Manager for rates management in the peak season

YieldPlanet’s Channel Manager offers a series of functionalities making the rates management in the peak season simpler. These are, among others, grids, meaning an option enabling to enter even several dozen defined price strategies corresponding to different market conditions. It is also a possibility to use price formulas automatically converting the basic rate to related rates, as well as a screen for a wholesale prices loading, taking into account a wide range of dates serving for differentiation of prices or availability in different OTA channels.

Let’s have a closer look at certain functionalities:

Rates and availability distribution

The basic task of the Channel Manager is the rates and availability distribution to all channels that are used. The information about the rates and availabilities may originate from the PMS, revenue management systems (RMS), revenue rules configured in the channel manager; they can also be entered to the Channel Manager directly by a user. Its functioning basically consists in the fact that the data saved in the system are immediately sent to all connected channels.

Minimum stay duration, StopSell and other price restrictions

YieldPlanet’s Channel Manager is adapted to receive and forward not only prices and availability, but also to distribute different kinds of restrictions. These restrictions include maximum or minimum duration of the stay, CTA, CTD, Sell/StopSell or an advance reservation parameter. A rule applied in channel manager is the immediate distribution of the data right after their entry or receipt – there is no need for a hotel user to support this process.

Copying, increasing and decreasing of the rates

Copying of the rates makes it simpler for a user to fill out new price plans, using prices and restrictions from other, already existing price plans. Besides, it enables copying the restrictions and prices from the current periods to the next year which allows to save a lot of time. Furthermore, the existing rates can be increased or decreased in any way by a specific percentage or amount, without the need to enter them manually from scratch.

YieldPlanet ‘s Channel Manager provides necessary tools enabling management of hotel rates in the best possible way, but it is also important that revenue management departments monitor the whole process and make conscious, forecast-based decisions that are optimal in terms of revenues. In the framework of preparation for the peak season, it is recommended to review restrictions relating to stay duration, rates and price plans availability, in order to use the acquired experiences in the best possible manner and to increase revenues in next periods.

Prepare yourself for the peak season and configure your Channel Manager in the most automatized way in order to save time and ensure a better work organization. Contact us to get more details on advantages offered by Channel Manager in the peak season and in the low season.

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by Sebastian Andruszczak

What if changing a Channel Manager could boost your revenue?

It’s understandable that even the mere idea of switching to a new channel manager can give many Revenue Managers a headache.

But, as the saying goes: “To stand still is to retreat”. For a Revenue Manager, the decision to continue using a channel manager that no longer responds to hoteliers’ current needs and requirements can prove to be a mistake.

The process of switching to a new channel manager can initially seem inconvenient, however, it will bring a number of benefits both in shorter and longer run, all of which will translate into higher revenue.

Before purchasing a new channel manager, take your time to inquire into functions offered by the products available that you are particularly interested in. Select the product that is best suited to your hotel and your current needs in the revenue management area.

To help you find your perfect Channel Manager, below we have compiled 6 reasons why you should start using YieldPlanet’s Channel Manager and give up the product you use now.

Reason No 1

Flexible booking management online from one control point

Channel Manager by YieldPlanet gives you the insight into all bookings from one control point. This tool will let you manage bookings online from a centralized management point to enhance your productivity, save your time and become more efficient.

Thanks to the modular structure of the Channel Manager, you can enable and disable certain functions depending on your needs – full and unlimited control.

Moreover, Channel Manager enables the use of API for two-way communication about bookings, for bookings from OTAs and PMS alike.

Reason No 2

Nearly 500 integrations for greater global reach

YieldPlanet has an infinite amount of two-way integrations for a broad variety of local markets all over the world in real-time to assure trust, visibility and accessibility to our customers in certain regions.

Channel Manager by YieldPlanet is integrated with nearly 500 channels. We cooperate with OTAs, tour operators, wholesalers, PMS, CRS, GDS, RMS, meta search engines and booking systems. Create personalized integrations with API to access new markets through our Channel Manager.

We are currently integrated with over 100 Property Management Systems and since 2017 it is possible to share information about a facility from a PMS, as well as receive bookings from the Channel Manager via PMS.

Reason No 3

Support in minimizing the risk of overbooking

This solution enables automatic update of managed channels and dispatch of rate lists. It will effectively protect your hotel and minimize one of the most common issues in the hospitality industry – the risk of overbooking.

Channel Manager comes with a function of automated overbooking distribution of certain types of rooms to other types of available rooms. It helps maximize sales of a certain type of rooms in the conditions of higher demand.

Reason No 4

One click to synchronize all your data with YieldPlanet’s Channel Manager

YieldPlanet’s Channel Manager allows you to easily synchronize all your facility data with hundreds of OTAs, GDS, and your own booking engine.

Thanks to this function you can act fast to take full advantage of the opportunities to sell rooms at good rates through minimizing the amount of errors, avoiding overbooking and discrepancy between room types, rates and your hotel’s offers.

Reason No 5

PCI and GDPR security standards

Channel Manager by YieldPlanet is a fully secure tool. It assures complete security of data and information transfer. Our solutions are compliant with PCI and GDPR standards.

Moreover, Channel Manager is equipped with credit card data protection system (vault), to guarantee that all customers’ confidential data are kept in a manner that prevents all potential security breaches.

For enhanced security, Channel Manager has a feature to protect maximum and minimum rates on the room or facility level.

Reason No 6

Easier intelligent decision making to maximize revenue

Channel Manager by YieldPlanet is compatible with Price Optimizer – YieldPlanet’s RMS. These systems offer analyses and report of various kinds to help you make intelligent decisions regarding rates and availability management. All reports can be configurated and compared, while they can also be programmed to be sent via email.

You can also create detailed reports about the basic functions of the systems, or configure a mechanism to capture real availability from the PMS and receive recommendations on rate changes or MinStay.

Further, the system shares information about the Pick-up and performance (occupancy vs prognosis) on the segment level which can then be exported in xls format. All this to help you make better informed strategic decisions in the area of revenue management.

If you need more arguments proving that Channel Manager by YieldPlanet is the best solution for revenue management, contact us and our experts will walk you through all features and functions of the most flexible tool in the hospitality industry.

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