i-Rates: A New-generation Pricing and Revenue Management system for profit maximization in hotel operations
i-Rates is an integrated analytical instrument that solves the following important problems:
- Defines specific actions that need to be taken in order to achieve highest yield from the operations
- Organizes and automates the Pricing and Revenue Management business process, including data analysis and decision making (based on user preference)
- Reduces the workload and human error rate, thus freeing up the manager's time to concentrate on more relevant strategic decisions or even manage multiple properties
i-Rates: is the first computer system that provides a synthesis of managers' expertise and innovative mathematic methods of 'Reinforcement Learning' for solving daily tasks and making decisions about Pricing and Revenue.
It is designed to:
- Assist managers in daily decision making for group reservations, promotions and other important actions through a wide range of comprehensive reports. Provides graphs, tools, notifications, and alerts when action is needed.
- Constantly monitor and update daily rates in reaction to demand fluctuations, based on the information obtained from external resources, such as competitive prices, hotels own changing parameters and other relevant internal and external metrics.
- Build adequate adaptive strategy for these rate corrections, based on each property's specific characteristics. We take into account the property's financial model. This not only maximizes revenue but bottom line profits after considering all revenue-generating departments.
i-Rates also monitors and optimizes all aspects of the Revenue Management business process, including:
- Price Management
- Discount Management
- Market Mix Management
- Allocation Management
- Stay Restrictions Management
- Group Management
- Corporate Account Management
- Room Type Differentials Management
This comprehensive approach provides maximum in-depth monitoring across-the-board, and leads to achieving the highest possible yield.
Automate the process of distributing updated parameters through all appropriate booking channels... in one click.