Europe's leading leisure hotels have decided to only trust specialists in the leisure hotel business when it comes to their pricing. We at RateBoard know very well that the challenges for leisure hotels are not comparable to those in the city hotel industry. Of course, the same applies to the topic of revenue management. That is why you should optimise your prices with the best system in the industry, and not waste time with subpar solutions.
Holiday seasons, public holidays and events are key factors for creating effective pricing strategies in the leisure hotel industry.
School holidays, long weekends and events have an especially large impact on market demand in the leisure hotel industry. By continuously updating, RateBoard always provides the latest holiday periods from various nations.
Events and holidays must be taken into account during price calculations, allowing RateBoard's forecasting model to generate an optimal booking curve for each day. For example, if 50% of your hotel guests in summer are from southern Germany, the start of the school holidays in Bavaria will be a significant factor. With this knowledge, discontinuities can be modelled more effectively and booking curves can be displayed in more detail, leading to an increase in revenue and occupancy.
By adding custom events, temporary peaks in demand can also be included in the forecast. The algorithm learns from the events and transfers them to the following year. As a result, it is possible to accurately predict sales peaks and calculate the best price.
RateBoard knows when and in which regions school holidays are happening.
Identify peaks in demand due to extended weekends and public holidays.
Each individual event is taken into account by RateBoard's algorithm and price calculation.
In terms of booking cycles, the leisure hotel sector cannot be compared to the city hotel industry. Key performance indicators such as length of stay, booking times, or cancellations differ significantly.
The data science expert team at RateBoard has managed to develop an intelligent algorithm specifically for the leisure hotel industry. In addition to the scientific calculation of the algorithm, the focus lies in the early identification of peaks. This ensures that the optimal price for the market will be communicated in a timely manner, thereby generating maximum revenue.
The distinctive booking behaviour in the leisure hotel industry requires early identification of periodic peaks. This is the only way to perfectly detect busy booking periods and use them for the best price recommendations. Our specific focus enables us to develop a tailored algorithm, adapted to the needs of leisure hotels. Due to our large hotel portfolio, we can easily transfer previously accumulated knowledge to our new customers.
Nowadays, it is imperative to keep an eye on the entire market at all times. Consequently, RateBoard's daily rate shopping provides hoteliers with valuable information about price developments of their most important competitors. This enables a better assessment of the current market demand of a specific destination in relation to the position of your hotel. With this data, hotel prices can be adjusted more quickly and accurately according to the latest market situation.
The algorithm is constantly optimised on the basis of a large amount of data from hundreds of holiday hotels.
RateBoard's algorithm has been developed especially for the booking behaviour of the leisure hotel industry.
Behaviour in booking practices has also significantly changed in the leisure hotel industry. More and more reservations are made on short notice and hotels have to offer the most flexible cancellation policies possible.
This trend was further intensified by the Covid19 pandemic. Especially in these times, flexibility and agility are key capabilities to be able to guarantee a quick reaction to market changes and thus ensure the hotel’s competitiveness.
The use of a fixed price list has never been more of an obstacle than it is at the moment. Seasons are becoming increasingly mixed up. In the leisure hotel industry, it is no longer possible to make a clear distinction between high-, low- and mid-season.
Relying on intuition in terms of pricing is hardly possible any more. The use of data-based solutions such as RateBoard is essential.
We are a family business. That means that every member has to do everything and there is always a lot to do. That’s why pricing is often overlooked in everyday life. Accordingly, our goal is for RateBoard to expedite the process and help us save time.
Hotel Seppl, Mutters
We are looking forward to using this revenue management software in our COOEE alpine hotels. A central aspect in our decision was that the software complements our existing systems very well, and offers quickly accessible support. RateBoard is very intuitive and offers a lot of benefits in the area of forecasting, and we were particularly impressed by the individual support.
RateBoard is an essential tool for us. It works well for us and we have achieved the desired results. The software has opened up completely new possibilities for us that we didn't have before.
Boutique Hotel Nives, Gröden
The decision to move from Excel-Sheets to technical solutions in the area of pricing, and finding the right partner: for us, the competent, dynamic team, the technical implementation to our PMS, and the individual and easy handling of the system were our reasons for choosing Rateboard.
5* Schlosshotel Fiss