Our Revenue Management workflow begins with the creation of Collections, which are groupings of similar types of accommodations. Users can create Collections based on content similarity and booking behaviour similarity. We have developed an algorithm that examines the content scores and booking behaviour scores within a Collection to identify similarities. We have three primary reasons for creating Collections: to follow the same trend, prevent cannibalism, and enable macro-management. Once Collections are created, users can set Strategies for each stay date per Collection, choosing from either the Best Revenue or Best Occupancy strategy.

Users can also configure Monitors that are triggered when a threshold is exceeded. Notifications are sent to the Notification page, and include the Monitor, stay date range, and Collection. Examples of Monitors include Occupancy Received, Occupancy Reached, Occupancy Expectation, Occupancy Lagged, Occupancy Ahead, Budget Reached, Cancellations Received, and Locked Percentage.

After receiving a notification, users can visit the Insights page to gain more information about the given period and Collection. Here, we show key performance indicators (KPIs), booking pace, pick-up, distribution, customers, offers, and cancellations. Our goal is to create transparency about our demand prediction model and help our users make well-informed decisions.

Once users have reviewed the Insights, they may choose to adjust their rates. We provide optimised rate suggestions, but users can overwrite them if they wish.

Finally, users can review the Optimised Rates page to see the KPIs, the number of rate changes made, and the resulting impact.

User flow

Configuration:

Collections page:

Collections →Collections:

What is a collection? A bundling of similar types of accommodations.
What does a collection do? Follows a similar trend. A collection can undergo price changes.
What can I do with a collection? Prevent cannibalism and enable macro-management.

Optimisation strategy :

What is a strategy? Is a pre-defined approach that dictates whether prices should be raised or lowered to optimise total revenue or maximize occupancy.
What does a strategy do? It provides guidelines for determining prices to achieve specific business objectives. Best occupancy or best revenue.
What can I do with a strategy? Maximize revenue or occupancy.

Monitors →Monitors :

What is a monitor? Monitors check the data to see if a certain threshold has been reached. These thresholds can be configured for each collection, for certain stay dates.
What does a monitor do? When a certain threshold is reached, this monitor sends a notification on the 'Notifications' page.
What can I do with a monitor? Determine at which threshold a notification should be received.

From here, you can go to the Notifications page , or to Optimise rates.

Revenue Management:

Notification page →Notifications page :

What is a notification? A message received when a certain threshold is reached, as determined in a monitor for a collection.
What does a notification do? Informs users about reaching a threshold for a collection and stay dates.
What can I do with a notification? This allows users to monitor a specific collection and react proactively to changes or issues or you can close or snooze a monitor. Some monitors will close permanently and some not. E.g. Occupancy reached, if this is closed, this will be closed forever (since this can be triggered only once). While occupancy lagged, can happen multiple times in the lead time to a stay date.

From here, you can go to the Insights page and Optimised Rates Page .

Trends page →Trends Page :

What does Trends do? Shows in a quick overview the number of reservable units per collection left for a stay date.
What can i do with Trends? Can help you to identify gaps and change rates accordingly.

From here, you can go to the Insights page .

Insights page →Insights page :

What does Insights do? Provides an overview of all information for a collection along with a specific stay date range.
What can I do with Insights? This allows you to view all information for a collection.

From here, you can Optimise rates .

Optimise Rates →Optimise rates :

What is Optimise Rates? A card that shows optimise rate change in % per date for configured accommodation types and selected stay dates. It also shows for what scenario the optimisation is calculated, best occupancy or best revenue.
What does Optimise Rates do? Provides insights into how rates are adjusted over time for specific accommodation types and stay dates. Furthermore, users have the option to apply the suggested optimised rates or manually adjust rates.
What can I do with Optimise Rates? Analyse rate changes and make rate changes.

Auto-pilot page →Auto Pilot :

What is Auto-pilot? It automatically adjust rates, according to the settings. The optimised rates are directly applied on the website and will be bookable.

Then we also have two BI pages, the Dashboard page and the Optimised Rates Page .

The Dashboard page provides you with a full overview of your accommodation types’ key performance metrics and recent activity within the Revenue Management module. Optimised Rates Page will show you an overview of all the rate changes the Revenue Manager has made.