Hotel Revenue Management System
IQrates: Key Features
INTUITIVE AND ADAPTIVE: It’s based on sophisticated mathematical optimization and control methods that allow it to adapt to the specifics of each hotel property, as well as learn and improve performance over time
A fully customizable solution that develops most suitable Hotel Revenue Management strategy for each property, objectively evaluates all changing metrics (static and dynamic data) necessary to make important profit maximizing decisions, anticipates future demand levels, constantly monitors them through dynamic re-assessment, and efficiently reacts to the changes in market conditions through adaptive corrections.
COMPREHENSIVE: It provides a synthesis of manager’s expertise, external market information and state-of-the-art innovative computer intelligence
IQrates is the first computer system that provides a synthesis of Managers’ expertise, efficient information about demand level and market conditions (human intelligence) and innovative mathematic methods of Reinforcement Learning (computer intelligence) for solving daily tasks and making decisions about Pricing and Revenue.
CONSOLIDATED: It conveniently brings all Revenue Management Tools to one place
It provides data analysis, comp set reports, pricing control, stay restrictions, allocation management, inventory control, group displacement analysis, market mix analysis, channel management, and even automated distribution to all relevant booking channels.
USER-FRIENDLY: while being highly intelligent, the system is very user-friendly and simple to implement and use on a daily basis
It is well suited for Hotel Revenue Management professionals, as well as for General Managers or other personnel who may be involved in the revenue management process at the hotel. Quick and simple set up time and installation process with minimal disturbance to the hotel operations.
FLEXIBLE: It allows for different levels of automation of Pricing and Hotel Revenue Management business process
Offers complete flexibility for managers to control the system’s performance, accept or reject recommendations, customize, set parameters or provide additional information.
- Provides optimal pricing for each day of the year
- Includes competitor analysis in rate calculations
- Optimizes the bottom line/yield, not just revenue (taking into account hotel’s financial structure)
- Allows users to conveniently handle multiple properties
- Results from day one: no need to wait months for history to build up before recommendations are made
- Professional RM consultations at installation and throughout the transition period
- Ongoing technical support to the subscribed customers