Infor has unveiled its new Hospitality Price Optimizer (HPO). Built specifically for the cloud, the solution helps hoteliers determine the price of a room. In doing so, it shall take into account the pricing process from the point of view of the guest, e.g. the sources used by the guest before making a reservation.
With HPO, hoteliers should be able to make faster decisions, as well as determine the prices of remaining rooms, thus increasing profitability. “The Infor team saw an opportunity in the market for a data-driven pricing tool of this calibre,” says Jason Floyd, general manager of Infor Hospitality. “We wanted to make the price optimization tool intuitive and accessible to hotels of all sizes, to help them increase profits in a market where prices are highly competitive.”
With HPO, the uncertainty in making price decisions due to fluctuating variables must be eliminated, by providing data-driven answers to several important questions. For example, it helps to decide at what price the rooms are offered today, whether it is necessary to follow the pricing of competitors and whether there is a price war going on. The application also helps with questions such as: “How do I move bookings from online travel agencies to internal?” and “What is the correlation between the changes in my bookings and the prices of competitors?”
HPO also offers a strategic price and distribution channel where the price is published. In doing so, it also takes into account the distribution costs for the channels. Furthermore, the solution includes simulators to predict the impact of a price change on a given day. HPO also decides which hotels should be seen as a competitor from the consumer’s point of view. And through real-time updates that show movements in the market, hoteliers can be more flexible.
Ease of use
HPO was built on the backbone of Infor OS and offers integration with the HMS hospitality property management system. Furthermore, the application has a mobile-first design that adapts to the current way of working and the need to have access to information anytime, anywhere. It all uses the Coleman artificial intelligence platform for text and speech interaction, as well as Ming.le’s social interaction capabilities.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.