Book4Time spa and ancillary revenue management software system’s Yield Management feature is a game changer for the hospitality industry.
This feature is revolutionising the industry, empowering spa directors, general managers and sales and marketing teams to explore and innovate new strategies for boosting profits without having resort to discounts to fill treatment rooms.
Before Yield Management And Dynamic Pricing, revenue managers had to manually adjust prices on treatment menus, which could take hours dealing with configuration settings.
Now, leaders running established spa or ancillary revenue-driving departments can automate yield by setting configurations just once, streamlining operations and providing teams with greater control over maximising revenue during high or low traffic times.
Yield Management has helped revenue managers and spa directors achieve a significant 10-15 per cent jump in overall revenue by having at least one yield rule in place.
One example of a success story is the Waldorf Astoria Chicago.
Innovative software for an enhanced spa experience Since 2020, the spa at the Waldorf Astoria Chicago has been using Book4Time software, and according to spa director Kelly Gasspari-Fleming, the system’s Yield Management function has been a financial triumph.
Gasspari-Fleming says that the functionality is “really great,” adding that so far it has only been implemented on weekends.
“We utilise weekend and weekday pricing and Book4Time makes this feature incredibly easy to use,” she says. In fact, by incorporating higher yields only on weekends, she says the spa increased revenue by approximately US$100,000 over one year.
This not only showcases the software’s capacity to increase profitability but also its role in enhancing occupancy and productivity.
Anticipation is high for the rollout of Dynamic Pricing in 2024, promising even more revenue increases, which Gasspari-Fleming says she is “excited to use.”
The spa increased revenue by approximately US$100,000 over one year Aside from Yield Management, Book4Time’s Online Booking feature is also helping streamline operations and enhance income for the spa at Waldorf Astoria Chicago.
Approximately 20 per cent of bookings come through the online system. Some of this revenue would surely be lost if the option were not available.
“Online Booking is always a great way to add effortless booking for guests, as well as auto confirmations,” says Gasspari-Fleming.
Setting the standard for spa management Asked whether she would recommend Book4Time to other spas looking for a software solution, Gasspari-Fleming said “absolutely,” adding that: “the yield feature is by far what sets Book4Time apart from any other software.”
Book4Time helps spas stand out, increase profits and provide a superior experience. The Yield Management feature positions businesses uniquely in the hospitality landscape, offering both a memorable stay for guests and a model of operational excellence.
