REVENUE MANAGEMENT
Re-Strategizing Revenue Keeps edyn Ahead
The edyn properties were being used by lots of essential key workers: NHS, construction, and other industries needing to trade and needing accommodation. This enabled the portfolio to trade at just below 50% occupancy, even at the very worst. Mid-stay and long-stay customers also remained.
Using Pricing Rules: The revenue team at edyn used Duetto to set pricing rules for minimum rates based on length of stay.
Using Automation: AutoPilot Schedule and Autopilot for Restrictions helped them implement strategy faster.
Using Short-term Forecast: Duetto’s short-term forecast enabled edyn to set a parameter of as little as two weeks to benchmark against, rather than relying on same time last year data
Innovators Mentioned
Group Director of Revenue
edyn
"Duetto allowed edyn to implement our concept of hybrid hospitality where we will use the RMS to dynamically and automatically adjust pricing and restrictions in order to achieve the best GOP mix throughout the year. It has been more than just a pricing tool, but more of a channel and length of stay optimisation tool. As an example, we materially improved one channel GOP by restricting 1 night stays under certain criterias. As a result, we significantly improved our revPar and GOP indexes versus our competitors in 2022."
Emmanuel Lacour
Group Director of Revenue
"Duetto allowed edyn to implement our concept of hybrid hospitality where we will use the RMS to dynamically and automatically adjust pricing and restrictions in order to achieve the best GOP mix throughout the year. It has been more than just a pricing tool, but more of a channel and length of stay optimisation tool. As an example, we materially improved one channel GOP by restricting 1 night stays under certain criterias. As a result, we significantly improved our revPar and GOP indexes versus our competitors in 2022."
Group Director of Revenue Emmanuel Lacour said, about their decision: "It is so easy to change any price in Duetto; if we miss something or if we don’t increase enough we know Duetto will automatically adjust and push up the price ahead of this."
In August and September 2020 some edyn properties were trading at 95% occupancy, and retailing at good rates.
Working with their Duetto Customer Success Manager, the edyn team set up length of stay pricing rules, targeting mid and long-term stays, creating lower prices for those staying longest in order to remain competitive.
Despite the pandemic, edyn continued with its rapid expansion, with five new properties being opened in 2020, including Dublin, Cambridge and Munich.
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