RateTiger has today unveiled an innovation in hospitality technology with a tool to manage the future of online distribution and revenue strategy.
The channel management specialist announced the production of RTStrategy as the first intelligent software aiding hoteliers in online benchmarking, rate calculation and forecasting as well as distribution management.
Yield / Price management will become easier and quicker for many hoteliers with the new tool that assesses price points in comparison to competitors and evaluates distribution outlets to provide a revenue schedule through three unique strategy options.
RateTiger 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.â€
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.â€
RTStrategy will also include the innovation of 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.â€
About RateTiger
RateTiger has been a leader in Online Distribution Management tools since 2001 and continues to pioneer new technologies for the hospitality industry. RateTiger, by eRevMax, now operates in 60 countries and 415 cities across the world and has become the industry-wide benchmark for managing online distribution. The RateTiger product portfolio enables hoteliers to switch from a time-consuming and complicated multi-channel process to a single point of entry to the market, hence allowing for easy update of distribution channels and travel portals, and rate comparison with competitors, in real-time.
RateTiger is headquartered in the US, with a second office in London (UK) and a technical development centre in India. eRevMax employs over 120 people across the globe. RateTiger is rapidly expanding across the European and American markets. For more information please visit http://www.ratetiger.com.
