Nowadays there are many factors which affect the hospitality industry. Hoteliers need to monitor the macro perspective: the world economy, international relationships, global events, transportation and travelling trends and any channels that their hotels use to communicate with the world. Data coming from so many sources needs to be categorized, evaluated and applied to adjust the hotel’s offer. The coronavirus pandemic revealed in particular how global events can influence hotels. Hoteliers also must keep track of changes in the micro perspective: local events, direct competition, the size, condition and profitability of individual customer segments, the marketability of their hospitality services. Knowing the impact and correlation of all these factors allows you to build the most efficient pricing policy as well as adjusting prices and restrictions in real time.
Gathering and interpreting such data volumes can be expensive and time-consuming. However, there are solutions that provide access to data and suggest the best ways to use it. In a perfect world for the hotelier, the systems analyzing data from the macro perspective and micro perspective could join forces to present the most valuable information and facilitate decision-making. We would like to present the integration of two such systems along with the benefits coming from this.
OTA Insight is a global company supporting revenue optimization and demand analysis at the macro-perspective level. The company has been on the market since 2012 and provides services to more than 50,000 companies worldwide. OTA Insight delivers solutions in terms of rate comparison, rate parity in different channels, competition price monitoring, integration with other systems, room category comparison between competitors and forecasting global demand. In a nutshell, OTA Insight products are an integral part of the price optimization process in hotels. One of its main products is a rate shopper called Rate Insight. This analytical solution tracks all the macro-perspective factors affecting the demand and occupancy of your hotel rooms and gives you insight into the past, present and future prices and reputation of your hotel as well as your competitors. Rate Insight shows such data within an easy-to-use interface which facilitates making the right pricing decisions. Is there an additional way to use such data? Yes, you can simply integrate it with a system such as proRMS.
proRMS, flagship product of Qualpro, analyzes data from the micro-perspective level and comprehensively optimizes all hotel revenue centers(TRevPAR index optimization). The solution provides recommendations on the right pricing level and controls the availability of each segment in terms of their full profitability. To do this, it uses several tiers of AI-based algorithms and analyzes the degree of external impact. This in turn leads to forecast accuracy, anomaly alerts and specific sales recommendations. These algorithms conduct an in-depth analysis of hard data from systems such as PMSs, CRMs, POSs or, of course, rate shoppers. The integration with OTA Insight’s product called Rate Insight will provide a constant inflow of valid data. As a result, proRMS will offer suggestions on establishing the best pricing policy.
“We are very excited to welcome Qualpro among our partners”, said Francine Heywood, Regional Sales Manager EMEA at OTA Insight. “proRMS is a modern product created by a group of people with years of hands-on experience in the hotel industry, as well as programming experts. This resulted in an advanced solution enabling an in-depth analysis, keeping the interface very intuitive at the same time. Data accuracy, innovation and user-friendliness are some of our key values and, therefore, we are looking forward to our mutual cooperation.”
“This integration is very important for us”, claimed Michał Forysiak, CEO at Qualpro. “OTA Insight takes ensures quality of data that is presented in a clear form. Their Rate Insight tool is greatly appreciated by hoteliers. I know this because I used to work with for many years when I was a hotelier. The integration with OTA Insight is now crucial for us. Our proRMS uses self-learning algorithms. Their efficiency increases when we provide them with valuable data, e.g. via OTA Insight. With this combination, our mutual customers can draw more accurate conclusions and optimize their revenue in a better way.”
Integrating Rate Insight with proRMS will bring benefits to all parties. First of all, to hoteliers who will have access to current data from both the macro perspective and micro perspective. Thanks to this, they will receive specific recommendations of actions and adjust their pricing in order to obtain the highest possible profit and outrun their competition. OTA Insight will gain a trusted Polish partner which will help with the promotion of its products and their benefits. Whereas Qualpro will join forces with a world-renowned partner. That is why we appreciate the cooperation with such a reliable company with a modern business approach. As experts in the field of Revenue Management, we are proud that we can pursue our common goal together with OTA Insight – increasing hotel revenue. Thank you for this integration!
Click here to read more about Rate Insight.
Click here to read more about proRMS.
