HotelHub Introduces AI-Powered Rate Optimiser Tool to Drive Hotel Booking Efficiencies for Business Travellers
LONDON, September 28, 2021 (Newswire.com) - HotelHub, the leading global hotel technology solution provider in the business travel sector, has launched Rate Optimiser. Using advanced machine learning, Rate Optimiser monitors current hotel bookings in line with an organisation's preferences and automatically re-shops for better hotel rates by scanning through multiple suppliers' content.
However, unlike other tracker tools in the market, in addition to shopping for lower prices, Rate Optimiser also allows the business travel agent or their customers to set search parameters based on better hotel amenities, room type, downgrade savings, upgrades for traveller comfort, preferred supplier objectives, and commission optimisation. Furthermore, Rate Optimiser automates cancellation and rebooking of the rate without the need for any manual intervention, thus increasing workstream productivity.
In addition to email and browser notifications, the tool is integrated with AI-powered virtual assistance, such as Alexa and Siri, to provide notifications to business travellers when the search criteria for optimising the hotel booking is detected. Upon confirmation by the user, the customisable in-built rebooking feature cancels the existing booking, rebooks the new accommodation instantly and the details are immediately shared with the traveller.
Rate Optimiser is integrated with HotelHub's agency hotel booking platform, and its self-booking tool used by bookers and travellers, meaning the process is automatically streamlined and the user doesn't have to log in to a separate third-party tool to compare rates. Monthly reports compile all data in an easy-to-use format displaying all successful re-bookings, savings achieved, and missed opportunities. Data can be further filtered by hotel chain, brand, and property.
The tool has already been successfully piloted by a global business travel management company (TMC). For example, after dynamically tracking and re-shopping all eligible hotel bookings for better rates during Q3 (June to August 2021), Rate Optimiser identified total average savings of 15% for the TMC's corporate customers. The tool is now being fully implemented to manage hotel costs more effectively, as well as enhance productivity and user experience by automating the re-booking process.
Eric Meierhans, Chief Commercial Officer, HotelHub commented: "We have leveraged our expertise in the hotel booking and technology space to develop Rate Optimiser with a holistic approach to managing hotel costs, driving productivity efficiencies and enhancing the user experience. Other hotel rate search engine tools in the market only track lower rates, whereas our tool doesn't only focus on price. The AI and machine learning functionality optimises rates based on the corporate's preferred criteria, whether that's a room upgrade for traveller comfort, or specific room type. The tool also shops across multiple normalised hotel content channels, plus it can be set to match the corporate's preferred policy rules. Rate Optimiser is also unique in the market because it has in-built functionality to automate the cancellation and rebooking process. It streamlines the whole process as the more desirable rate is automatically re-booked instantly as soon as the previously booked rate is cancelled."