RezNext launches custom-built rate shopper solution to empower mid-market hoteliers arrive at a profitable rate strategy
RezNext, the world’s only true real-time enterprise distribution technology and profit management company, has announced the launch of its rate shopper solution designed to meet the industry needs on pricing intelligence. Available through RezNext’s enterprise platform, RezRate, the rate shopper product has been tailored to meet the needs of hoteliers to view competitor pricing at a granular level while comparing it with their own rates.
According to Mike Kistner, Chief Executive Officer, RezNext Global Solutions, “Hoteliers need to take decisions on their pricing based on their own distribution performance as well as their competitions’. Mid-market hotels are challenged with limited resources and cannot dedicate them completely to such manual tasks. We believe this bespoke solution, now available at no additional cost to hoteliers, will help bridge the gap in real-time information on market pricing.”
Another important feature of RezRate is its ability to provide a price comparison of an offering against an exact similar product from competition. “Several times we see hoteliers take their competition pricing at face value. They do not analyse if the rate being offered is the bar rate, a promotional rate or package rate. RezRate allows hoteliers to drill-down into competitor price by room type and meal plan. They can compare, BAR rates and promotional rates through the solution every day or for a defined period of time. Such rate intelligence will help hoteliers price their product competitively and yet be profitable,” said Kevin Dcosta, Senior Vice President, Product Development, RezNext Global Solutions.
RezRate is a SAAS based solution and is integrated with RezNext’s distribution intelligence application allowing existing customers to access a single application for all distribution related functions. RezNext will also soon offer an advanced version of RezRate with more functionality and tighter integration with the distribution platform to facilitate dynamic rate updates on the move. This solution, to be available on a subscription model, will also integrate with the hotel’s PMS, revenue and reputation management solutions to provide a holistic view of pricing powered by smart analytics.
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