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iRates Revolution in automated hotel revenue management

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New hourly update feature for iRates users! June 25th, 2014

iRates announces demand based updates to its revolutionary Revenue Management Software. The first three iRates customers started using the iRates hourly pricing update option in their daily Revenue Management practices.

"Amazon is doing pricing hourly now – why shouldn't hotels have the same tool for revenue optimization?" – explained Vadim Asadov, CEO of iRates LLC – "Don't forget – iRates is a fully automated Revenue Management system so the hourly pricing update does not mean that you need to spend more time managing your rates – iRates will do everything on your behalf requiring attention from the hotelier only when exceptional circumstances exist in the market.".

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iRates joins forces with Roomkey PMS June 22nd, 2014

RoomKeyPMS, the leading cloud-based property management software for the global hospitality industry, is pleased to announce their powerful new partnership with iRates revenue management system. iRates is easy to use and relies on the intelligence of an innovative algorithm to help hoteliers sell rooms at the best price the market conditions will allow.

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Article: 3 biggest myths about Occupancy | by Ira Vouk June 6th, 2014

Occupancy is one of the three main indexes used in the science of Revenue Management (along with ADR and RevPAR). It is the percentage of all rental units in the hotel that are occupied at a given time.

The three main misconceptions about occupancy that are still prevailing in the hotel industry are:

  • Occupancy should be the target for maximization
  • Occupancy should be forecasted
  • Occupancy should be the indicator and trigger for price adjustments...

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