The end is nigh for RateIntelligence, the analytics arm of BookingSuite. And for small hotels there may be a sense of loss – RateIntelligence helped them to know what their competitors were doing and how to position their own hotel.
But in life, as one door shuts, another often opens. And sometimes that door leads to an even better room than the first one did. At the risk of stretching the analogy, we think that this is one of those times when the new door leads to a new room that is simply designed, makes you feel good to be in it, and gives you a lot of benefit. Maybe like a nice room with a lot of food in it. Anyway, enough!
So why is the closing of the RateIntelligence door leading to better things?
We’d like to introduce GenieIntelligence by RoomPriceGenie that does everything that RateIntelligence did, looking at competitor prices. But, more than that, it simplifies the process of pricing, meaning that your most important price changes will be done early enough for you to benefit. You can get the advantages of a revenue management system without the high costs.
So what are the 6 reasons you should try GenieIntelligence to help you with your pricing…
1) You will save time that you would have spent looking at competitor prices trying to work out what to do.
GenieIntelligence looks at both competitors and the big hotels in your area, adjusting for your hotel characteristics, to get a perfect comparable price for your hotel every day. This is much better than the competitor median, used by RateIntelligence, as it uses a lot more information and is much more relevant.
Other options would be to use a rate-shopper but then you have to make the synthesis yourself in your head, which takes a lot of time to do.
2) GenieIntelligence will automatically adjust and optimise prices for how many rooms left.
The magic of GenieIntelligence really comes in this step. If you only have one room left to sell, you only need to find one buyer. If you have 20 rooms left, you need to find 20. What should your price be, relative to the other hotels? GenieIntelligence tells you this so you can make the most profit rather than just copy your competitors.
3) You get your Big 5 Dates every day so you always raise prices in time
Have you ever found that you fill up too early and you know you could have charged more. Maybe there was an event you missed. Maybe it was just a busy weekend. GenieIntelligence looks at the next 3 months and tells you up to 5 dates every day that you can make more money by raising prices.
GenieIntelligence makes sure that you charge enough for your rooms.
4) You get price recommendations for the last 2 weeks with colour code.
Depending on your location and hotel type, around 40% of your bookings will come in the last 2 weeks. GenieIntelligence gives you price recommendations for this complete period.
Move the green prices up. Move the red prices down. And you will make the most of this most important time in your booking window.
5) Like RateIntelligence, GenieIntelligence also shows weather and local events.
You will keep updated on these every morning!
6) You are granted the RoomPriceGenie’s 3 wishes – more time, more revenue and more peace-of-mind.
And there is one more reason that you should try it. It is totally free to try for a month. No credit card required and no obligation. You can sign up with your booking.com account and be done in 2 minutes.
After that, for the price of a newspaper each morning you can continue to receive this high-value daily email or you can simply do nothing and stop receiving it.
Why not sign up now and see for yourself:
One month free. No credit card required. No obligation.