Welcome to i-Rates! April 23rd, 2012
We're excited to introduce iRates, a new generation Pricing and Revenue Management system.
iRates software gathers historical sales data as well as specific hotel characteristics (location, events, seasons, etc.) as part of the installation process. Our intelligent core processes sales data to restore real, not visible demand patterns that are specific for the property. Using adaptive management between different demand patterns and competitive environment information, iRates software develops most suitable Revenue Management strategy for the property and proposes updates for room rates and other relevant parameters. The hotel manager has a full control of the final pricing decisions and can manually edit these parameters at any step.
Our Competitive Advantage
Main competitive advantage of our product is its innovative state-of-the-art algorithm that allows for re-evaluation of demand levels and adaptive changes between them. iRates is the first computer system that provides a synthesis of managers’ expertise, efficient information about demand level and market conditions (human intelligence) and neoteric mathematic methods of Reinforcement Learning (computer intelligence). iRates sets the most optimal price for every day in the future, finding a perfect balance between ADR and occupancy, thus not just maximizing revenue but the bottom line (profits), based on each property’s financial structure. The system represents an ideal combination of most powerful algorithms and intuitive interface, comfortable for users with any level of experience, from a sales or front desk managers to advanced Revenue Management professionals.
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