Grand Welcome scaled quickly and entered new markets with PriceLabs

REVENUE MANAGEMENT

Grand Welcome scaled quickly and entered new markets with PriceLabs

Grand Welcome's extensive property portfolio spans from the sun-drenched shores of Florida to the picturesque mountains of California and beyond. Jonathon Supranowicz, a revenue expert and a seasoned revenue professional in the hospitality industry with a background spanning several years, has been with Grand Welcome for the last three years, where he has transitioned into a more business intelligence-focused role, while still maintaining responsibilities in revenue management, including configuring algorithms and ensuring that system aligns with their rate strategies.

Why it matters: Jon talks about his collaborative journey with PriceLabs, highlighting PriceLabs as a dedicated partner that has consistently adapted to meet evolving industry and user needs, resulting in significant impacts across critical dimensions of Revenue Management

Moving to PriceLabs offered a level of efficiency and functionality that surpassed their earlier methods and processes. PriceLabs empowered Jon and the Grand Welcome team to manage multiple locations more effectively, providing valuable support during times when exhaustive attention may not be possible, especially considering the company’s extensive reach.

Top 3 Core Objectives: Streamline Market Research Efforts: The goal was to reduce labor-intensive market research through automation and software to maintain competitiveness. Enhance Daily Rate Adjustment Efficiency: The aim was to improve the time-consuming rate adjustment process using automation, optimizing pricing responsiveness.

Streamline Market Research Efforts: Labor-intensive manual market research cost Jon and his team both time and resources. Their objective was to streamline market research efforts and competitor analysis and stay competitive in their rapidly evolving industry by leveraging automation and software solutions.
Enhance Daily Rate Adjustment: The time-consuming process of implementing daily rate adjustments at Grand Welcome was a huge challenge, and the objective was to enhance daily rate adjustment efficiency. This objective involved implementing automation and tools that allowed the team to make real-time rate adjustments, optimize pricing efficiently, and adapt to changing demand patterns in a more responsive manner.

Innovators Mentioned

Grand Welcome

PriceLabs

Jonathon Supranowicz

Business Intelligence Manager

Grand Welcome

"The introduction of PriceLabs’ new Hyper Local Pulse algorithm has been nothing short of exceptional. PriceLabs has raised the bar by crafting a dynamic seasonality feature that meticulously analyzes localized data, considering factors such as demand trends, historical patterns, and real-time market fluctuations"

Jonathon Supranowicz

Business Intelligence Manager

👍 Business Intelligence Manager Jonathon Supranowicz said that PriceLabs' new Hyper Local Pulse algorithm sets a remarkable standard, offering dynamic seasonality analysis based on localized data and real-time market factors.:

"The introduction of PriceLabs’ new Hyper Local Pulse algorithm has been nothing short of exceptional. PriceLabs has raised the bar by crafting a dynamic seasonality feature that meticulously analyzes localized data, considering factors such as demand trends, historical patterns, and real-time market fluctuations"

⚖️ The selection process: During their research process, Jonathon Supranowicz evaluated PriceLabs's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that PriceLabs was the best fit solution:

Business Intelligence Manager Jonathon Supranowicz said, about their decision: "It’s been an amazing journey. A great partnership, where the PriceLabs team has taken a lot of what we’ve asked for and implemented it; allowing us to be able to really scale our business as we’re continuing to grow rapidly and be efficient and making sure we’re getting into these markets not only fast and quick, but knowing that our pricing strategy is going to be sound."

📈 The results: Moving to PriceLabs marked a significant improvement. The new system proved to be a game-changer, offering a level of efficiency and functionality that surpassed their previous software. Since then, PriceLabs has empowered Jonathon and the Grand Welcome team to manage multiple locations more effectively, providing valuable support during times when exhaustive attention may not be possible, especially considering the

A robust pricing strategy that evolves with changes in the market: Using the dynamic seasonality feature that meticulously analyzes localized data, considering factors such as demand trends, historical patterns, and real-time market fluctuations ensures that Grand Welcome’s pricing strategy evolves with the times, adapting seamlessly to the ever-changing market landscape.
Subgroup Segmentation enabling specialized strategies to distinct segments of their property portfolio: Grand Welcome can now create parent groups to categorize their units efficiently, and can also establish subgroups with tailored settings for specific sets of units. This flexibility enables them to apply specialized strategies to distinct segments of their property portfolio, ensuring maximum control and optimization.
Enhanced Security and improved user access management: Team settings enable simplified delegation with view or edit permissions and and detailed logs that allow GrandWelcome to quickly identify who made what change and when providing the control needed as they expand their teams. These enhanced security and user settings are invaluable for maintaining data integrity and limiting access to sensitive information.