Dynamic pricing strategy is a highly effective process of automating revenue management. Businesses from travel and tourism industries like hotels and airlines mainly take dynamic pricing into account for tweaking room or flight prices in real-time based on algorithms. These algorithms consider consumer demands, current occupancy, seasonality, competitor pricing, and other factors for modifying the final price and increasing the revenue.
You can efficiently keep a regular check on the demand and supply of hotel rooms if you use dynamic pricing and revenue management software like Pricepoint. It will allow you to tailor your pricing strategy in real-time and enable you to boost your conversion rate and profit.
# How Pricepoint Works
The revenue management software, Pricepoint, is a fully automated and highly functional revenue management system that runs on an AI-based RMS, AKA price optimizer. The software allows independent hoteliers to automate their price on Online Travel Agents (OTAs) like Airbnb, Agoda, Booking.com, Expedia, etc.
Pricepoint keeps analyzing property performance round the clock to determine optimal prices for OTAs. Our pre-pandemic data suggests that Pricepoint’s revenue management calibre empowers hotel owners to boost occupancy by 13% and revenue by 19%.
The below features set Pricepoint apart from other revenue management software:
- Pricepoint leverages AI-based cost recommendations to optimize hotel prices. It allows users to make the most of the available rooms.
- Pricepoint’s ease of use makes it useful for all, including the non-tech-savvy owners and managers. The plug-n-play feature of the software ensures automatic connection with PMS (Property Management System) and channel managers. After that, it analyzes performance on its own and pushes back the optimum prices to OTAs.
- The software uses rate shopper technology to figure out users’ competitive positions in the marketplace. Pricepoint always notifies users whenever the pricing differs from competitors. Using Pricepoint means always keeping an eye on your competitors and making a better strategy.
# How to Use Pricepoint
Using our software is easier than said. Our dedicated technical support team and user-friendly UI & UX make Pricepoint one of the best dynamic pricing and revenue management software in terms of accessibility. We will connect Pricepoint to your PMS and gather data. After successful installation and connection, our algorithms will generate the optimal prices and upload them to your PMS. Users’ efforts are not required in the entire process. They can just sit back and watch pickup.
Book a Demo Now and Increase Revenue by up to 25%
Our software manages several properties across Europe, North America, and South America. All types of hotels work with us, including small 10-room properties to large 150-room properties. Our pricing engine will work 24/7 for you to manage and increase your revenue up to 10% to 25% in just a few weeks.
Hotel Whiskey in the USA, Reykjavik Residence in Iceland, Lucky D’s Hostel in the USA are some of our happy clients who have skyrocketed their growth by leveraging the power of Pricepoint. Want to become a member of our happy family and stay ahead of your competitor? Book a FREE demo now!!