i-Rates, LLC and Revcaster have partnered to provide hotels with the necessary tools to accurately set rates and evaluate competitive set data.
San Diego, CA (PRWEB) August 13, 2013
i-Rates, LLC and Revcaster have partnered to provide hotels with the necessary tools to accurately set rates and evaluate competitive set data. In today’s fast moving travel market hotels must use best practices for setting rates that optimize RevPAR. By viewing and comparing competitive set data in the revolutionary i-Rates user interface, hotel staff can easily see what their competition is doing as compared to the rates i-Rates revenue management software recommends.
i-Rates is the first computer system that provides a synthesis of the managers’ expertise, efficient information about demand levels and market conditions (human intelligence), and neoteric mathematic methods of Reinforcement Learning (computer intelligence). i-Rates sets the optimal price for every day in the future, finding a perfect balance between ADR and occupancy. This maximizes RevPAR and bottom line profits. The system represents an ideal combination of the most powerful algorithms and an intuitive interface that comfortable for users with any level of experience. I-Rates is also effective for hotel owners and managers responsible for multiple properties as it simplifies the rate decision process by location and across multiple locations.
Revcaster uses advanced business intelligence to help hotels raise profits. The internet is everywhere and transforming how consumers make purchasing decisions. Hoteliers are also using this information super highway to increase their own market intelligence and better understand their competition. Collecting and analyzing data about your competitors’ rate strategy can be timely, costly and ineffective if you go at it alone.
“Hotels today need the Hotel Revenue Management tools i-Rates provides. We are delighted to be partnering with i-Rates to serve their customers by showing them what their completion is doing” - said Daniel Wise, CEO of Revcaster.
“Revcaster offers the most comprehensive rate shopping service available today for the mid-tier market. Effective Rate Shopping is an integral part of Revenue Management best practices. ” – stated Ira Vouk, Vice President Business Development and co-founder of i-Rates.
“Hotels need a strong technology eco-system to succeed in today’s mobile connected market place. i-Rates and Revcaster provide two critical elements to that eco-system.” – Followed David Callander, Vice President Sales for i-Rates.
Link to original release here.