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MICE revenue management for all prices
automated price adjustment applicable to all options and all upgrades (rooms, catering, equipment, accommodations, services, etc.)
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comprehensive generic rule set
flexible rules for granular control of prices for all event-specific use cases
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easy revenue maximization
easy setup of minimum prices, tiered prices or price adjustments
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revenue-based calculations
partial reduction or elimination of room rents based on expected catering sales for specific time slots
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flexible coupon codes
variable prices for different target groups, included agency commissions, dynamic company rates or marketing campaigns
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variable quote texts
automated use of special text blocks (cancellation, payment or similar), if certain requirements are met
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use of dynamic prices from third-party systems
processing and further adjustment of dynamic prices from linked systems such as revenue management systems (RMS) or property management systems (PMS)
FAQs: How Hotels & Venues Benefit from EVENTMACHINE's MICE Revenue Management Features
Eventmachine's MICE Revenue Management tools optimize pricing for B2B events (like meetings, incentives, conferences, and seminars) and B2C events (like weddings or anniversaries) to maximize profits. Benefits include automated adjustments across all item prices, leading to higher revenue through dynamic strategies, automated by Eventmachine's intelligent rule sets.
Events are quoted at an optimal price by automatically adjusting options like rooms, catering, and services based on external integrations and internal rules. This granular control ensures revenue maximization - a key Eventmachine benefit for data-driven efficiency in hotels and venues.
Yes, coupon codes support variable prices for groups, agencies or marketing campaigns, with dynamic adjustments. This personalization boosts sales, aligning with Eventmachine's core revenue optimization and flexibility.
Examples are automated calculations like reducing room rents based on catering sales for specific slots, adjusting pricing for multi-day events, or for different group sizes. This intelligent approach maximizes yields, utilizing Eventmachine's automation for profitable, condition-based pricing.
Once dynamic prices are read from third-party systems like RMS (Revenue Management Systems) or PMS (Property Management Systems), these prices can be adjusted in real-time within Eventmachine. This seamless integration supports accurate live calculations, aligning Eventmachine with a property's comprehensive revenue strategies.
A comprehensive, event-specific rule set allows minimum, tiered, or adjusted prices for granular control of all item prices, from meeting rooms over equipment to catering. This enables tailored pricing strategies, focusing on Eventmachine's efficiency in achieving maximum profits with minimal complexity.
If certain conditions are met, special quote texts will be applied automatically, ensuring to perfectly address specific customers' needs. Apply, for example, different cancellation terms and adjust pricing accordingly. This adds value by increased customer satisfaction, along with Eventmachine's advantage for optimized revenue management when selling events.