41% of properties do not yet have an income management tool according to Expedia
According to the world's leading travel firm, administrators spend an average of 1 to 3 hours a day on pricing activities
Expedia Group, the global travel platform, constantly seeks to add value to alliances with its hotel partners, providing tools and content to make them more competitive in international markets. During a presentation in the City of Buenos Aires, Expedia Group shared details of the Rev + tool, which is available for free to all hotel partners through Partner Central, which is the platform that allows hotel partners to manage their business with Expedia Group.
Our tools and information help our partners stay updated, learn about the latest trends and be more successful, increase their profitability and attract new customers, bringing them the contents that allow them to offer personalized experiences for each traveler.
Rev + is one of the revenue management tools designed to provide members with intelligent and practical information, and predictive analysis, all in real time and in one place. In addition, Rev + offers functionality that allows partners to make pricing decisions intelligently and access business predictions, according to their competitive market and submarket set and thus increase their income performance.
Some of the most relevant features of the tool include: calculation of competitive rate by room type, alerts and personalized notifications, establishment of competitive prices, customizable price table and competitive prices in local currency for more than 30 countries.
Rev + also shows members the competitive rates of up to 20 national and international competitors on the Expedia Group platform, giving them a more complete picture of the market opportunities for each participating property. Likewise, Rev + converts data into market information and makes recommendations for hotel partners to carry out informed actions, which leads to measurable results. In addition, members have access to a database of local events and have the possibility to verify public prices by point of sale in local currencies to increase the profitability of their income.
“Rev + is a unique tool that helps our hotel partners improve their income. With all its features, it supports them to design special offers strategically and to establish rates according to their competitive category, giving them more opportunities to improve their occupation. Hotels that actively rely on Rev + (around 50 thousand today) have seen their income grow 20% faster than other hotels in its competitive category that do not use the tool, which also generates US $ 26 million in growth. their combined income, ”said Carrie Wilder, Director for South America of Expedia Group.
“For the past 20 years, we have set out to revolutionize the travel industry. We are now revolutionizing revenue management technology through the power of technology, as it provides the strongest travel demand data for our hotel partners. Our goal is to democratize revenue management, leveling the playing field for hotels by making Rev + easy and accessible, ”added Freddy Dominguez, Vice President for Latin America of Expedia Group.
In addition to Rev +, Expedia Group Partner Central has other tools available to all hotel partners. These tools help provide a better and more personalized travel experience; identify and resolve guest concerns before and during their stay and help influence the reviews they leave after their trip; proactively manage online reputation and attract more travelers; make use of data on how guests feel about their stay in the property to improve their experience; and understand the travelers of a destination and understand how to attract them to a particular property, just to mention a few.
In 2018 alone, Expedia Group invested 1.6 billion dollars in technology to innovate and develop useful tools for its hotel partners. Every day, 2.3 billion changes in prices and availability happen on our platform, with 60,000 servers that process more than 50 million GB of data.