iRates

RMS can be perceived as black box systems where users struggle to understand the outputs, which in an automated environment is critical to build trust between human and machine. This feature provides rationale for pricing outputs to users in easy to understand language and visualizations.

Enterprise Business Guidelines allow corporate revenue managers, cluster revenue managers and revenue management system directors to implement best practices and pricing guidelines for individual properties/Increases efficiency of corporate revenue teams and reduces administrative overhead and ensures corporate strategies are followed.

Allows the RM to find and suggest the optimal alternative date(s) to take group business/Allows RMs to take the right group business at the right time for the right rate.

The application suggests alternate properties that may be a better fit for the group given the budget/Ensuring you take the right group business without denying or closing out availability to groups

As soon as a change in the market or at the hotel occurs, the software will react in real-time with a measure to that change in activity if necessary. There is no need to wait for an "optimization run" to happen like it has been in the past.

Each room type is priced dynamically but always respects the room price hierarchy.

Open Pricing allows hotels to yield each segment, channel and room type independently in real time. Open pricing gives hotels the ability to price all room types, channels and dates independently of each other to maximize revenues without having to close any off./Hotels can price each room across all channels based not on BAR, but on the demand for those specific products and segments. It means never closing the door on a guest who wants to book a hotel. And it means maximizing revenue by selling the right room to the right customer at the right time for the right price.

Workflows within the application to guide new users through revenue management best practices and day-to-day activities using the software.

Get detailed forecasts on an inventory level to help you to explore how different configurations of your rooms and rates would maximize group revenue.

Ability to adjust prices based on rules and conditions/Provides for flexibility and control without making daily pricing changes

Set minimum and maximum prices, making sure your rates are always in your comfort-zone.

Change individual dates by making percentage adjustments or fixing prices

Instantly calculate the optimal rate for groups and make data-driven decisions on which business to accept.

Use restrictions to control your business mix and know when to close out corporate rates and maximize revenue from your transient business.

Optimize overbooking to account for all expected cancellations, no-shows and group wash across all market segments and grow on-site spend

Flexibly optimize business mix by managing product availability based on value and drive shoulder night performance

Manage seasonality and day-of-week patterns with monthly and weekday adjustments.

React to different booking behavior on an individual room-type basis

Apply more granular modifications with simple bulk-adjustment features

Ability to adjust prices 24-months into the future in real time providing better control to take advantage of even the slightest changes in the market 24-months into the future and avoid missing future opportunities.

Allows users to build demand and financial forecast for up to five years into the future/increased visibility.

Set prices 365 days into the future

Connect your RMS to STR compset data to leverage in your yield strategy and decision making.

Set prices 18-months into the future.

Ability to run pricing scenario analysis and sensitivity models to project demand at various price levels.

Monitor the performance of your entire hotel portfolio by providing you with aggregated KPIs.

Improve decisions by incorporating competitor influence within your selected competitive set and position, optional reputation and sentiment scores to monetize on your online reputation, or view STR data within the dashboard for quick reference.

Visual heat map calendars, interactive dashboards and scheduled reports keep users of all levels informed and engaged. Multi-property reporting capabilities makes it easy for corporate teams as well as cluster revenue managers.

Monitor hotel booking demand in any geographical market in your RMS, 365 days into the future to better understand traveler intent and capture recovering demand with the right rates and offers based on forward-looking data.

The ability to build a user-financial forecast and budget that can be locked into the system for use in reporting and pricing which reduces the time it takes to build a forecast and centralizes forecast and budget data into one system.

The ability to slice and dice your data as you need with an easy to use report builder interface/flexible, customizable, and works for all different hotel types.

The ability to schedule reports to be delivered via email at a day, time and frequency of the user's choosing/automates manual report runs and saves time pulling data.

Lost Business Data describes the information an RMS collects from a hotel’s booking engine about each visitor that comes to the hotel's website. It is used to to inform hoteliers on how many potential customers are shopping on the website.

Visual heat map calendars, interactive dashboards and scheduled reports keep users of all levels informed and engaged. Multi-property reporting capabilities makes it easy for corporate teams as well as cluster revenue managers.

Analyze thousands of market prices we make sure you never miss an opportunity

You’re getting fewer or more bookings than expected? Our optimization algorithm will react quickly

Track each booking in real time to understand booking patterns, drive relevant promotions, and control your supply.

Get real-time updates on events including: concerts, sports games to exhibitions and trade shows to inform your yield strategy.

Drill into every price update and every booking. There's full transparency on how your business is performing and how the pricing engine makes its decisions.

User-defined alerts proactively monitor the system’s key changes, providing notifications when business conditions significantly shift.

Eliminate the need to pull data from different systems when running a Displacement Analysis.

Evaluate the best dates and property to place group business while understanding expected displacement and profitability.

Monitor the performance of your entire hotel portfolio by providing you with aggregated KPIs.

The ability for customers to operate in a hybrid manual / automated manner / highly increases the adoption of automation and allows companies to apply strategies and controls to their automation.

Room-type pricing is automated based upon factors such as room type availability, demand and seasonality. With automated room-type pricing, revenue managers have a much better understanding of the additional revenue by room type they’ve achieved/The data is available to analyze room type efficiency, comparing actual ADR of room type differences to set pricing differentials. Comparing room types sold versus room types occupied helps hoteliers better understand whether they are capturing the right amount of revenue from higher room types or whether front-desk clerks are offering too many free upgrades. Armed with this information, hotel revenue managers can test strategies such as pre-arrival marketing campaigns as well as educating the front desk staff on how best to sell upgrades. Group and corporate sales teams can also be educated on how to quote multiple room types when selling.

Ability to adjust prices based on rules and conditions/Provides for flexibility and control without making daily pricing changes

Continually learns and adapts to how pricing and controls impact booking patterns and demand to improve outputs. Decisions are seamlessly distributed to key technology systems.

Software will optimize your prices throughout the day and directly update in your PMS or Channel Manager

Ability to provide recommendations/decisions on yielding availability/ Rate is only part of revenue management, availability controls (minimum length of stay, open or close, overbooking) have just as great an impact.

Monitor the performance of your entire hotel portfolio by providing you with aggregated KPIs.