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Bedford Plaza Hotel, USA

“Pricepoint and the team helped my property tremendously: 700 – 800% increase is true.

Except for increasing bookings and revenues, for example, we weren’t selling one of the suite rooms before Pricepoint, and now we’re selling it.”

Sal Patel, Owner

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How does it work?

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Real-Time Dynamic Pricing

Use precise AI-based price recommendations to optimize prices after every single availability change. Don’t miss events. Sell always at the optimal price.

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It’s a plug-n-play. It automatically connects to PMS and channel managers, analyzes performance and pushes back the prices to OTAs.

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Bedford Plaza Hotel, located 18 miles from Boston, offers the best of both worlds – a peaceful setting that’s close to dozens of exciting New England attractions. The town of Bedford is a hub for a corporation like IBM and SAP, making it an ideal choice for business travelers too. 

Bedford Plaza started to use Pricepoint in June 2021. Since using Pricepoint, it has achieved incredible results: 

800% increase in revenue since the Pricepoint trial started.

We did it in a counterintuitive way: Bedford Plaza is a big property (99 rooms), and when we started to work together, the pace of bookings was slow. We were looking at competitors near Boston and big names like Best Western. However, if we price match competitors, we may not be prizing optimally for the reality of our property, so we took ADR from the higher rate to a lower rate. 

By dropping this ADR, we drove occupancy – bookings and revenues increased throughout the trial.

Sal is the owner and manager of Bedford Plaza Hostel. He shared with us his experience from using Pricepoint.

“From the owner’s perspective, when you hear you should drop prices, you think – how am I going to pay for the rooms?. I understood from the beginning that changing prices in real-time is critical. So I was willing to give it a try. I gave the Pricepoint team full access to my property data and stayed in the back seat – which wasn’t easy. But it was a good decision

Sometimes I tried to price higher or the same as my competition, but doing that doesn’t make sense. It was difficult to leave it to the AI and the team, especially when I saw that prices were dropping. 

I had to go through this early phase of lowering the rates to learn that Pricepoint’s AI needed data, needed the points to do the work that was supposed to do.

Once I saw that I was getting more occupancy, I saw it was working.” – Sal says.

Automating the pricing process 

Before, I used to hold to the price, hoping and thinking that everybody would come. So I wasn’t even looking at the results because I was by myself getting the work of the front desk done too. I was the only person working. 

So I let Pricepoint’s Artificial Intelligence do the work, stayed backseat, and watched. If it were going to be a loss, I would take the loss. 

I think Pricepoint is one of the hardest working employees that I’ve got. It is changing prices all the time – even 900 price changes per day.”

More time to take care of guests

“I had lots of things to do on my own. I needed help so that I could take care of guests. 

I needed help in revenue management. I was tired of running it on my own. I could only go lower.”

More than increased bookings and revenues

“Pricepoint and the team helped my property tremendously: 700-800% increase is true.

Except for increasing bookings and revenues, for example, we weren’t selling one of the suite rooms before Pricepoint, and now we’re selling it.”

Unexpected outcomes

It worked too well sometimes. I didn’t have enough staff in the beginning. So Pricepoint was selling too fast, and there was no one to clean rooms. It was a bit challenging. So I had to block some of the rooms because if not, we were selling out often. 

Now that I have a fully staffed hotel, we did tremendous business, and I have doubled up.” 

A lot of independent properties can benefit from Pricepoint. It’s a great thing, and it’s here to stay; AI is doing a job of selling the rooms – You can’t deny the results. 

More time and increased revenues allow Sal to grow his business

“I believe I can generate more business, and I can get more properties later with Pricepoint.”

About Bedford Plaza Hotel

 

Location: Bedford, Massachusetts, USA

Type: Hotel

Size: 99 rooms

 

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30-day Free trial. Free setup. No credit card required.

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