Rate Tiger has unveiled a new tool designed to help hoteliers manage their future online distribution and revenue strategies.
The channel management firm specialist has launched RTStrategy, pitched as an ‘intelligent software’ aiding hoteliers in online benchmarking, rate calculation and forecasting as well as distribution management.
The tool is designed to make price management easier for many hoteliers. It assesses price points in comparison to competitors and evaluates distribution outlets to provide a revenue schedule through three strategy options.
Rate Tiger has been developing the tool since 2006 and is preparing to make the suite available in summer 2008.
“This is the first complete package for hoteliers seeking to optimise the yield from their third party distribution sites,” said Andrew Morsi, Founder & CEO. “The comprehensive software can provide strategy for hoteliers based on Position, Occupancy or Parity. Hoteliers no longer need to worry about number crunching every day. Instead revenue can be put in the hands of technology so customer service can remain a priority. The system is left to propose certain rates.”
RTStrategy will allow hoteliers to work with ‘Lowest Rate Guarantee’ integrated into the three key strategies for any channel. Revenue managers can view an entire year through each strategy to gauge yield.
The travel distribution technology specialist has also included a Hot Date feature to allow the user to apply different strategies for different date ranges dependent on successful holiday or business periods for the hotel.
“We believe this will be the ultimate tool to help hoteliers identify their strongest and weakest periods to maximise not just on occupancy but also rates. Forecasting and rate calculations will be much quicker and provide a realistic overview for the property. Hoteliers will have the opportunity to focus on other areas of the business rather than purely distribution and sales.”
RTStrategy will also include an ‘Allocation Pool Control’, meaning available inventory can be automatically positioned to a successful sales channel. This will benefit both the hotelier and the distribution channel.
“This is intelligent software that will further aid the needs of hoteliers, by acting as an automatic programmed timer – supplying inventory and managing rates accordingly,” Morsi added.