Revenue management company IDEAS has created a new flexible pricing
system intended to help hotels maximize profitability from independent and linked
products.
Agile Rates is now part of the IDEAS G3 Revenue Management
System.
The technology allows hotels to personalize rate plans such
as loyalty, advance purchase or other packages based on multiple dimensions
such as demand, guest behavior and product attributes.
“Pricing products independently is not a new concept, but
revenue leaders have been forced into rigid pricing structures and rules-based
tactics,” says IDEAS chief operating officer Sanjay Nagalia.
“Agile Rates breaks free from those limitations, allowing
hotels to manage their business as needed, using multi-product optimization to
jointly maximize both independent and linked products."
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The company says this new artificial intelligence-powered
system will help hotels compete more effectively with online travel agencies
and sharing economy accommodations and boost their direct sales and
profitability.
“The industry is shifting away
from pricing products in isolation based on a set of manually applied
parameters or fixed discounts. They seek truly adaptive machine-learning
powering a holistic optimization of their entire business through flexible
cloud technology, and IDEAS Agile Rates delivers that,” Nagalia says.