Do I need to be a Revenue Management expert to make use of Seekom's Automated Revenue Management?
No, the system is built to help out everyone. It is kept very simple and self-explanatory. It only takes a few minutes a day and there is no special knowledge required.
How does iBex Revenue Management work?
We have analyzed how hotel owners price their rooms in today's competitive hotel market. What are the factors a hotel revenue manager takes into account when manually updating pricing on a daily basis? We found 2 factors that are of the upmost importance.
(1) Occupancy: When looking at any particular date in the future, the revenue manager must factor in not only the number of rooms left, but also the number of days remaining to sell available rooms.
(2) What’s going on in the market? Looking what the others are charging around you is the second thing owners look at.
Currently, most hotel revenue managers are doing this manually. This takes a lot of time and is very susceptible to misinterpretation and pricing error. So we have decided to build a system that does just what you would usually do manually, but automated and a thousand times quicker.
How do I get started with Seekom Revenue Management?
We would love for you to try our system. We give you a 4-weeks-free trial so you can see how it does his magic. After that, you can decide if you want to keep using the solution. Just sign up on our website and we can give you a demo and then set up your account.
Do you look at my direct competition?
Mostly, it is not a good idea to look at the direct competition when trying to decide on your own prices. We believe in pricing being a long term game. You really benefit by looking 6 months into the future, not only by looking at the next two weeks. That’s where you make most of your money from pricing right. So we look at the Revenue Management experts in your region to find out how they estimate market demand. This is the best way to stay on top of the market and you will be able to use their research on demand to be successful.
Do I pick the market set?
Usually, we pick the market set together. Our system makes suggestions according to who are the top players around you. We can then decide if they are fine and can replace some if necessary. We pick up to 10 players around you and you can also decide if some are more important than others.
Why should I pick Seekom's Automated Revenu Management?
We are here to make your life easier. Getting prices right is crucial and game deciding in today’s world. But it does not have to be complicated and time consuming. We built a system that perfectly fits a hoteliers needs with proven success. Once setup, it only takes you a few minutes a day to get your prices right – that’s how revenue management should be.
Who sets up my account?
We do! And there is no hidden setup cost. Setup is for free and we still give you 14 days to try everything out free of charge. You only need to provide us with information about your hotel and about your market environment. We’ll take care of the rest.
How long does it take to set up my account?
It usually takes around 2-3 business days to set up your account once you have provided us with the necessary information.