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REVENUE MANAGEMENT
VESTA Hospitality: Leveraging Tech To Build A Modern Hospitality Business With Low Overhead
Verified case study
Hotel Tech Report has reached out to hoteliers at VESTA Hospitality to verify this case study.
Betting on modern hotel tech and lean operations turned out to be a smart decision that spurred VESTA Hospitality’s growth, even during the pandemic.
Why it matters:
In this case study, Haitham Faris, Founder, and CEO of VESTA Hospitality shares how he leveraged modern hotel technology and implemented smart solutions for every area of business. That includes managing, operating, promoting, selling and pricing their diverse portfolio. Mews PMS was one of the first new systems VESTA implemented and soon after that, he implemented Atomize RMS.
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VESTA runs Atomize on full autopilot mode. That means the system has full control to set and update rates. Since the algorithm analyzes live market, competitor and internal data continuously, it always calculates the best rates for all VESTA properties. The result show impressive increase in ADR and revenue growth.
Top 3 Core Objectives:
VESTA was looking to reduce hours spent on pricing, increase efficiency and drive up their rates in parallel with market demand. By implementing modern automated solutions and investing in technology they also wanted to create a lean operation with a low headcount.
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Increase efficiency and savetime: In the past, Haitham and his team used to spend several hours every week on setting prices which were too time-consuming, and in practice impossible to know which price would be optimal for every specific point in time.
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Increase ADR and RevPAR: VESTA rents out privately owned luxury houses and apartments in the more l, it is crucial to keep a high ADR and RevPAR to price in line with their brand segment and keep real estate owners, the partners happy. This was always a challenge before Atomize, when managing prices manually.
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Create a lean operation: VESTA's founders all have a corporate background and understand the importance of using advanced technology. From the beginning, VESTA looked for ways to automate or streamline their work to create a lean and protible business.
Atomize
AI-powered Revenue Management Software designed for hotels, enabling them to maximize revenue with less effort through intelligent, real-time pricing.
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Innovators Mentioned
VESTA Hospitality
Atomize
Haitham Faris
Hotel Tech Report reached out to Haitham Faris who verified this case study.
Founder and CEO of VESTA Hospitality,
VESTA Hospitality
"“When we were researching RMSs, Atomize stood out for a few reasons. First, the idea of being able to automate pricing sounded great. But finally, their team convinced me because they were able to answer all my questions about how their system and algorithm determine rates,” Haitham recounts."
Haitham Faris
Founder and CEO of VESTA Hospitality,
👍 Founder and CEO of VESTA Hospitality,
Haitham Faris
said that The transparency of explaining how Atomize rates are determined was one main factor that convinced Haitham that Atomize RMS was the right choice.:
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"“When we were researching RMSs, Atomize stood out for a few reasons. First, the idea of being able to automate pricing sounded great. But finally, their team convinced me because they were able to answer all my questions about how their system and algorithm determine rates,” Haitham recounts."
⚖️ The selection process:
During their research process, Haitham Faris
also researched
FLYR Hospitality,
and ultimately decided Atomize was the best fit for them.
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Founder and CEO of VESTA Hospitality, Haitham Faris said, about their decision: "“Growth has been solid over the last couple of years and we’re optimistic for the future. We’ve been able to keep operations lean thanks to our investment in tech and can offer value to both our guests and partners. Now, we’re working hard to attract more high-profile owners to expand our luxury offering. It’s good to know that we have a reliable partner in Atomize who supports us along the way. I recently heard about new developments they’re working on and I’m excited to know they’re eager to keep innovating. It’ll be great to try the new features soon,” Haitham concludes."
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The results:
With the use of Atomize RMS, VESTA hospitality group managed to keep its operations lean and efficient and tremendously increase its ADR and RevPAR in line with its brand promise.
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VESTA managed to triple its efficiency through Atomize full autopilot mode- by letting Atomize calculate and set the best rates for all VESTA properties- Haitham and his team have more time to spend on other tasks such as attracting new partners. Atomize truly supports their ambition to build a profitable business with low overhead.
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-16% increase in RevPAR. -33 % increase in ADR Atomize has helped VESTA drastically improve its main revenue KPIs. For example, their RevPAR for villas rose from $180 to $210 year on year since implementing the RMS. Their ADR grew from $300 to $400 in the same period. This also impressed partners and guaranteed a higher profit for all stakeholders involved.
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