Speed is crucial in the competitive hotel industry. And pricing rooms slower than competitors could mean losing out on profits without even realizing it. Luckily, there’s a solution.
Atomize, a Mews company, is the first Revenue Management System (RMS) to offer real-time price optimization. This tool helps hoteliers get one step ahead of the competition and maximize their hotel’s revenue potential. It works in two ways:
- Immediate rate optimization. So, money isn’t left on the table when events are announced.
- Adapting to fast-paced markets so your rooms are always sold at the right price.
What Atomize real-time optimization means for Revenue Managers
The role of a Revenue Manager has changed over the years. It no longer means manually trawling through reports and historical data to forecast future demand. Instead, the fast-paced industry means opportunities have passed by the time data has been analyzed. And hotels still relying on manual methods are probably unaware just how much money they’re leaving on the table.
To keep up with the market, many Revenue Managers have turned to cutting-edge revenue management systems. But without real-time optimization they can only go so far. Today, updating rates as often as possible is key to staying ahead of the competition and maximizing revenue.
Enter Atomize…
Let’s say we have two hotels: Hotel A and Hotel B. The hotels are a similar size and both get most of their business from events at the local stadium, making them direct competitors. The only difference is that Hotel A uses Atomize’s real-time price optimization (RTO) while Hotel B updates their rates manually.
When a world-famous singer announces a surprise concert next month, demand for hotels skyrockets immediately. Luckily for Hotel A, Atomize RTO picked up on this new event and upped the room rates in real time.
But Hotel B wasn’t as fast. It took them several hours to update their rates manually and several bookings were made at lower rates. This meant they lost out on significant revenue, while Hotel A made the most of this surprise concert from the moment it was announced.
Of course, not every scenario will be the same as this. However, without real-time optimization, you could be leaving money on the table like Hotel B.
“I’m happy we decided to use Atomize as our revenue management system. Without it, we would have missed many opportunities to maximize our rates and generate much-needed revenue.” Jonathan Anthamatten, General Manager at EMA House
How Atomize real-time optimization works
Atomize is constantly reviewing data from a hotel’s PMS to monitor pick-up rates, reservations and cancellations. It factors in everything from pricing hierarchy to other room types and the impact on shoulder days. It also keeps an eye on competitors, search trends and local holidays. It uses this data to calculate the optimal rate for the next 365 days.
With Atomize RTO, any rate recommendations go live immediately, meaning you don’t need to wait and can respond to any market changes immediately.
Want to optimize your rates with Atomize? Book a demo here.
