Bionic Hotel Revenue Management: The Synergy Between Human and Technology.
Let your revenue management strategy run on more than just algorithms.
in over 170 Markets to identify every trend
of over 15 years to react quickly to any given market situation
under constant review for improved operational efficiency
As your service and product offers have become more sophisticated, the ways in which your room pricing works will have to be reconsidered. Looking at the room rates of your competitors once or twice a day and then increasing or decreasing your own room prices will not be enough to optimize your overall business goals.
On the other hand, solely relying on standard algorithms or standardized price suggestions for your hotel might be an initial boost at first, but will not elevate your hotel ahead of your competition as many of these hotels run on similar pricing tools or algorithms.
At HotelPartner our bionic revenue management approach offers you all the resources your hotel needs to optimize your performance from the ground up. An exclusive synergy out of know-how, technology and first-class experts will ensure that you are getting the most value out of each room, while your room pricing strategy stays unique to your hotel and adaptable to your guest’s individual circumstances.
Within the first few months we were able to achieve a double-digit percentage increase in revenue. The birds-eye view from outside has shown us even more room for optimization and improvement, although we have already established a good position for our company over the past few years.Stefan Ischia Owner / General Manager
Compliment your competitive advantage with this unique combination of know-how, technology & first-class experts.
Intelligent Investments Result in Success
Optimise Your Costs through the All-In-One Solution of HotelPartner.
Finding technology providers for your revenue management today is not the initial hurdle in order to progress your hotel`s digitization. Finding the way on how to unleash the potential of a certain technology in which you decide to invest however, has become more complex when looking to optimize your top-line revenue and operational processes.
While sophisticated revenue management systems alone are effective, they are only as effective as the data that is being fed to them and have heavy reliance on the know-how of who is using that technology on your behalf. The goal is to enable technology to add value to your human efforts and enable you to extract value from technology in order to maximize your hotel`s market potential.
While this is logical, familiar obstacles arise in the process:
- Searching for the right technology and deciding on what to purchase.read moreread lessUsually restrictive through one’s own knowledge in a specific field of the industry or being exhausted by all the possibilities the marketplace has to offer.
- Having to purchase multiple technological providers.read moreread lessTo cover each business aspect (RMS, CM, CRM, Etc.), while simultaneously making sure they harmonize with all the other co-existing in-house systems.
- The sheer cost of multiple technological purchases.read moreread lessAlong with monthly rates or provisions that must be paid to each individual provider.
- Implementing changes into operations.read moreread lessUsually, time consuming and disruptive to daily business during the implementation phase.
- The lack of in-house know-howread moreread lessTo effectively utilize technological changes to their maximum potential.
- Cost and time of training staff and departmentsread moreread lessTo keep in-house knowledge up to date with certain technological changes.
- Consulting Fees (if acquired)read moreread lessAre expensive and only periodical.
- Employee Turnoverread moreread lessThat can leave you with know-how gaps and retraining efforts for new staff members that again will cost time and resources.
Increase Your Top-line Revenue Through Dynamic Rule-based Pricing.
Benefit Through Machine Automation & Expert Controlling
As today’s fast paced environment is constantly evolving, markets have become highly dynamic and competitive, which requires strategic and situationally adapted action in order to act on market dynamics instead of reacting to market changes.
The revenue management system of HotelPartner is therefore completely rule-based rather than built on algorithms as most revenue management systems commonly are.
Based on the pricing strategy worked out for your hotel, multiple pricing rules and so-called “matrixes” are worked out by our experts and implemented into our revenue management system on your behalf.
Room price calculations are then automated for your hotel up to every 4 minutes and distributed in real time through our integrated channel manager to all your existing online sales channels and reservation department – updating up to every 16 seconds.
Automatically adapting and switching to any given market situation, the system itself will simultaneously also run on three different possible pricing strategies set for your hotel. This functionality will ensure that the best possible pricing strategy for your hotel is always in place to generate the most revenue for your hotel, while not missing out on any pricing opportunities.
Further complimented through the daily controlling of our experts, fine-tuning changes are made where needed so that your pricing strategy is constantly aligned to your overall strategic goals.
Each pricing rule is individually created, independent and situationally adaptive, depending on:
- Your Hotel
- Your Location
- Your Market Dynamics
- Your Strategic Goals
- External Influences (Wetter, Events, Etc.)
- Force Majeur Events (Pandemic, Crisis, Etc.)
Three Simultaneous Revenue Management Strategies Based On:
1. Hotel Occupancy
This is your main revenue management strategy that is based on your hotel occupancy when there are no significant market influences that require any tactical change.
2. Market Pressure
Is based on your hotel´s current market situation. Pressure and demand patterns are scanned multiple times a day and the pricing strategy for hotel automatically adjusts accordingly to how the market is behaving.
3. Unexpected Peaks
Is a safety net strategy that triggers on irregular booking patterns where high demand peaks could come in for potentially unknown reasons and where human reactions could be too late.
Unleash Your Hotel´s Potential & Optimize Your Pricing Strategy
Customer requests are implemented quickly and professionally! The customer is always listened to and we feel that we are important!Andreas Purtscher Director and Partner
Satisfied Customers & Long-term Partners
With over 450 active partners in Europe we know about the difficulties of the industry you face and therefore offer you all the resources you need from one source to minimize your revenue management efforts, maximize your top line revenue and help you save you time to focus on the core of your business – your guests.
Avoid Channel Discrepancies and Maintain a Clear External Guest Communication.
Profit through regular channel analysis and maximize your hotel visibility at no extra cost.
Prior to creating your individual pricing strategy, an initial evaluation of your hotel will take place to review all aspects that can influence your sales strategy. Under this evaluation, all your existing sales channels are thoroughly analysed based on performance and other potential channels are evaluated to identify any possible opportunities.
Once the review has been finalized, specific channels are agreed upon, on which the sales strategy will thrive, and all online sales channels will be linked to the back-end system of HotelPartner. Here the content management team will manage and check each operating channel on a regular basis and ensure that your hotel communication is unanimous and without any price discrepancies. Additionally, the team will also ensure that your hotel constantly meets the criterions of any given channel such as with pictures, policies, etc.
These measures will ensure that your hotel is always ranked to highest possible degree over every online channel, while saving time on the side for your staff members and simultaneously ensuring the best online visibility regarding your product. Further analyses are performed on a regular basis over the course of the partnership in order to maintain the best preforming channels, while discarding any channels that are potentially underperforming over time.
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Optimize Your Channel Commission Through Automation and Expertise.
Maintain your visibility while simultaneously improving your top line revenue.
Through an integrated commission optimizer and the tactical know-how of our experts, HotelPartner opts to optimize high commission channels wherever possible to save your hotel from unnecessary commission costs, while making sure that your visibility furthermore remains.
Depending on how your revenue strategy is defined and the market situation, certain tactics can be implemented to convert bookings through lower commissioned channels or directly over your hotel’s own homepage. This can be done without having to give up any necessary visibility of other channels that are higher commissioned and have a further reach. Your hotel will maintain the same visibility while generating more overall profit for the period of those tactical changes.
Especially as a privately-run hotel, such measures in optimizing your top line revenue will have an enormous impact on your balance sheet. In the past few years, many private hoteliers have not constantly questioned their revenue management thoroughly. If results were good, there is no tendency to optimize further. However, at the same time, many hoteliers are now noticing in recent years that their traditional sales channels are falling behind or that they are paying to high commissions due to the change in booking behavior and digitalization
Such niche expertise is provided to you by the experts of HotelPartner in precisely those areas of optimization. Even hotels who are preforming well or have their own revenue manager benefit enormously from this know-how and support. While more frustrating and time-consuming work completely be automated, we can together focus and take care of improving your entire top line turnover.
Over 15 Years of Revenue Management Experience at Your Disposal
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Our Dedication – Your Profit: Up to a 14.7% Revenue Increase Within The First Year.
Save time while maximizing your revenue outcome.
We have a three phase plan to ensure the best strategy for your hotel.
Before your revenue management strategy can be set, HotelPartner will thoroughly evaluate and analyse all aspects of your hotel that can have an influence on your pricing strategy.
In correlation to your overall strategic goals and the defined cooperation agreement between you and HotelPartner, our experts will combine your past performance data (if available) to your current hotel standing and create a potential analysis on all optimization possibilities.
If you are planning to establish a new hotel, our experts will analyse your 3-year fiscal plan, your expectations and pricing strategy to the desired market location of that hotel. Any aspect that has an influence on the pricing strategy will also be evaluated and analysed if available.
Such elements that can fall under evaluation include:
Hotel Location | Operational Processes | Current Pricing Strategy | Technology Level | Room Structure | Competition | Price Structure | Target Groups | Sales Structure | Brand Awareness | Online Presence | Benchmarking | Review Management
Implementation & Multi-Level ControllingPhase Two
To develop the initial strategy, all of the information about your hotel must be weighed up carefully. The rate strategy will lock into this like cogwheels and takes all aspects into account of your actual situation.
After having evaluated and presented a potential revenue management strategy, the agreed upon strategy will be implemented into our revenue management system by your dedicated portfolio manager and through our implementation team.
As the revenue management system of HotelPartner is completely rule-based, your individual revenue management strategy will be automated 100% and complimented through by the controlling of our industry experts.
Several times a day, strategic decisions are made that take into account the entire market development from a bird’s eye perspective. Your portfolio manager, together with several instances of upper management controlling, look over your hotel’s performance on a daily basis to see if the strategy is on track, while constantly fine tuning any necessary changes.
At the same time, HotelPartner prepares future strategies for a variety of potential market developments to secure no opportunities are missed while ensuring your hotel is secure from any potential market downturns.
Strategic Fine-Tuning & AdaptationPhase Three
HotelPartner`s industry knowledge of booking behaviour and patterns seen across 170 markets, allows for best practices in both tactical and strategic revenue management for your hotel. Over the course of our partnership, strategic or tactical changes to your pricing strategy will occur. Such changes are situational and dependent on several factors, such as market pressure, events, weather, crisis situations, or even internal changes such as a renovation.
Based on the collected data throughout the partnership mixed with the industry know-how and expertise of HotelPartner, changes to your pricing strategy are constantly optimized and automated without you having to invest your own resources.
Each major change or implementation is communicated accordingly and upon agreement, the execution will be done on your behalf – allowing you to fully concentrate on other projects, while knowing your strategy is always in line with your overall goal.
Three Simple Steps To Boost Your Performance
Your way to successfully increase your RevPAR.
Together, we analyse your key data, present our partner models and create an individual offer for your hotel.
Get Your Custom
Upon completion of your evaluation, we will create and present your individual revenue management strategy.
Execute Your Strategy
We will take care of the complete set-up and implementation process on your behalf.