PMS

property management system

Convenience in managing guests stay makes the end user ensure enhancing guest experience and efficient personalised attention allows them to ‘WOW’ each guest.

POS

point of sale

Hassle free table management, seamless ordering through kitchen management system and dining preference shared instantly allows intensifying guest’s dining experience.

GOS

guest opinion survey

Achieving satisfactory levels in the hospitality industry is extremely important. Happy hotel guests are likely to return and possibly recommend the hotel.

purchase

purchase ordering

Cost centre budgeting, requisition approval, verifying purchase orders, indenting and auditing are important aspects of hotel purchase department. Efficiently managing these aspects allows an organization ensure control over cost.

SNC

sales catering

Organising, managing hotel inventory, venues and selling efficiently; assuring optimal capturing of business and increased profit through a simplified process sequence is a dominance with Numerah – S&CM.

hrms

human resource management system

People in the hospitality industry are the most important asset; managing them efficiently assures evolution of the entire organization. You take care of them and they shall take care of your business.

am

asset maintenance

Managing assets decorously from procurement to disposal becomes a necessity in controlling unanticipated expenses. Digitize your asset management activities to ensure adequate asset maintenance activities and operations.

cm

channel manager

Managing and distribution of rooms and rates to different agents is tedious and time consuming. Connect with more than hundreds of service provider across the globe using one platform and share rates and inventory instantly. Managing your sources at your convenience and as per your requirement is just clicks away.

Use of AI Based Pricing in Hospitality Industry

shrenik

February 10, 2022

Many revenue management systems already use pricing algorithms supported by artificial intelligence, which determines the optimal prices by analyzing a slew of historical, forecast, and market data, and A.I. is likely to bring pricing optimization to restaurants, spas, and other outlets too.

 

Why there is a need to embrace AI in hotel revenue management system?

AI and machine learning have entered the traditional hospitality landscape with an assurance of driving revenue, enhancing hotel reputation, and taking the customer experience to the next level – something which the legacy systems could not do efficiently.

Hotel legacy systems are usually complex and technically outdated. The software performance is low, because of which, the data processing is delayed, leading to conflicting information on inventories. The result is – low occupancy and significant revenue loss. However, an Al-based hotel Channel Manager like Numerah, can significantly change the situation.

 

Benefits of dynamic pricing system

Hotel room pricing changes frequently based on seasons, monthly and weekly fluctuations as well as daily or hourly changes. You can use technology to implement the dynamic pricing system and match price to demand.

  • Change room rates daily or hourly or even up-to-the-minute with dynamic pricing model
  • Achieve balance between underpricing and overpricing by adjusting room rate with response to demand and supply.
  • Use dynamic pricing to maximize profits with each customer
  • Build an effective pricing model that best works for your property type

Fixed Pricing v/s Dynamic Pricing

Fixed Pricing for the Hotel Industry:

  • A constant price is maintained leaving no scope for a price bargain or negotiation.
  • It restricts a hotel owners’ potential to increase profit by the volume sold.

Dynamic Pricing for the Hotel Industry:

  • This is time-based pricing. Price your rooms as per the time.
  • Increase/decrease room rates as per the demand or the lack of it
  • Find an effective pricing model that works best for your hotel property
  • Use automated systems to collect accurate data to forecast accurately, increase RevPAR
  • Use Dynamic pricing strategies to work around room rates by watching competitor pricing using technology
Numerah with its smart tools lets you make quick decision in real-time. The integration of a Channel Manager makes this an all-in-one solution.
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