Atomize 2.0 – A New Era of Revenue Management is Here
Product evolvement to address bigger hotels and groups with Atomize 2.0
Since inception to date, Atomize key focus has been on establishing the most sophisticated hotel pricing intelligence engine in the industry. We believe we have come a long way and the time has come to evolve our overall product to address bigger hotels and groups with Atomize 2.0.
Atomize 2.0 – so what is the buzz all about?
To answer that question, it would be appropriate to start describing what we believe the future of Revenue Management requires, based on thousands of dialogues and meetings with Revenue Managers around the globe.
To start with, the world happens in real time, consequently, we believe that anything else than providing real-time price optimization is suboptimal. In practical terms, hotels would yield more if the calculation and execution of an optimal price point for a certain room type is calculated and set when it is most beneficial. As the ecosystem has increasingly become more digital, it has also become increasingly highly paced. We predict that future successful Revenue Managers will require the prices calculated and served by their RMS to be in real time – a new price calculation for each time any data variable changes.
Furthermore, people are more mobile today than ever before and we can clearly see that it puts a requirement to be able to access your RMS wherever you are – hence, mobile first design without compromising pricing insights, is a must to serve the future Revenue Manager.
Early on Atomize made a clear distinction betweentactical and strategic revenue management when building Atomize, because they are addressing two completely different problems to solve. While strategic revenue management answers the question, “…who sleeps in your hotel and how do you reach those segments?”, tactical revenue management answers “What is the optimal price right now to maximize revenue?”.
At Atomize we believe that Revenue Managers are very competent and smart people. As such, their unique competence and time should not be wasted on setting prices (tactical revenue management) – but on strategic revenue management. Also, to try to set optimal prices manually is not manageable, nor optimal, due to the huge amount of combinations of data sets that need to continuously be assessed. It is a perfect assignment for letting a self-learning machine do this. The fact that many properties have been forced to slim down to smaller operations due to the impact of COVID-19, is also an important factor that enhances the need for automation and increased efficiency.
Consequently; it is natural that an RMS would not only need to be able to provide real-time price recommendations, but to automatically set them due to the huge amount of revenue opportunities needed to be assessed in real-time for 365 days ahead, per room type.
Once we will come out of Covid-19, groups will continue to be an important revenue stream for many hotels. To be able to calculate the optimal price point for a complex group booking request will continue to be a pre-requisite for many hotels going forward and they must be able to be performed on a mobile phone on the run and in meetings.
Back to the original question – so what is new with Atomize 2.0?
Well, most things actually.
To start with, in terms of the user interface (UI), we have done a complete re-design from the ground up. A beautiful design, with more comprehensive insights, fit to address the busy future Revenue Manager on the run – even on a mobile phone – with full pricing insights.
Furthermore, we are unleashing a completely new “Professional Package” consisting of the following new sub modules:
Revenue Insight, BI and multi property reporting module (powered by OTAi)
Entirely new and enhanced Group Pricing Module
Real-time pricing Optimization engine
BI and multi property reporting
In order to stick to our core and relentless strive to become the world leader in setting prices for hotels, Atomize will never become a BI or analytics company. However, we fully respect and understand that reporting and analytics are valuable to some hotels and hotel groups – even if reports never should work as a foundation for pricing.
Consequently, to be able to offer the total revenue management package, tactical and strategic – we are very proud to announce that we have deepened our partnership with OTA Insight. Competitive rate data provided by OTA Insight has been seamlessly integrated in our price intelligence engine from inception, but now we also can offer OTA Insight’s multi property reporting module – Revenue Insight. It gives hotels the best possibility to track their KPIs with endless reporting capabilities by using the latest BI technologies – also part of our Professional package.
“We are excited to expand our partnership with Atomize. We have many customers in common who can now benefit from the integration between Atomize 2.0 & Revenue Insight to provide a comprehensive platform that delivers on all of their revenue management needs. It’s been really great working with the Atomize team who have a strong culture of innovation and a shared dedication to customer success.”, says Sean Fitzpatrick, CEO at OTA Insight.
Group Pricing Module 2.0
The newly designed Group Pricing Module is effective, yet easy to use – even on a mobile phone. After entering the group’s details into the system and confirming, Atomize immediately calculates the current optimal group rate. You’ll also get a secondary price which is the lowest rate you can offer in a negotiation as well as the displaced revenue, taking ancillary profit margin and revenue into consideration. If the group wants a lower rate, from a yield perspective you will instantaneously know if you would be better off selling your inventory on the open market instead, based on demand forecasts.
If you want to know more about the new user interface, gain more insights from a designer’s perspective;
Designer’s Thoughts by our Head of product, Ellen Hartelius >
Real-time price optimization
Regarding enhanced performance we need to look under the hood, because here we have made some great improvements. The new real-time price intelligence engine is not only the most sophisticated we ever built, but also the fastest pricing engine in the market – built for those professionals who understand the requirements for maximizing revenue in a real-time and fast paced, dynamic markets.
One of our customers, Hotel van Oranje is one of the first hotels that started using Atomize 2.0 in and here is what they have experienced so far.
“We started working with Atomize 2.0 beginning of Covid-19,using their new algorithm and it has turned out to be a great success. It saves us a tremendous amount of time, ensuring to keep our prices up and still be very responsive to rapid market changes”, says Joost Splinter, Director of IT at Hotel van Oranje.
Operate in a COVID-19 environment
Last but not least, we have also made sure to adapt and re-design our pricing engine to operate in a post-Covid19 environment, that automatically detects and flags non-representative historical data.
Register for a Live Product Webinar of Atomize 2.0.
If you are curious to know more you can register for participating in one of our coming Live Product Webinar sessions of Atomize 2.0, Register here >