A major player in the Innovative hotel data and analytics solution expands prescriptive capabilities by the release of the upgraded version of the solution.
FREMONT, CA: The innovator who recognized and filled the gap in airfare, Yapta has released a new hotel price tracking service with advanced analytics solutions. Yapta’s hotel analytics solution, TravelAI Hotel Version 2.0 uses the advanced technology and modeling to provide a crystal clear view of the savings compounded by following the recommendations.
These suggestions are sourced from analyzing various factors like rate types, policy improvements, real-time booking data, Visibility into POS rate availability data, and Pricing data gathered from tracking more than a million bookings each day. The solution’s recommendations can determine the exact concoctions of suppliers for any corporate level travel program. It includes those suppliers who are added and those low-value suppliers who are to be removed. The solution works on the mantra that substantial savings in the hard dollar and soft dollar in the form of time can be achieved. The savings can be obtained by addition of high-value suppliers into the sourcing mix, and by excluding low-value suppliers from a program.
TravelAI Hotel 2.0 is programmed to prescribe the most profitable rate ranges to negotiate during booking. By assessing both static and dynamic rates based on price availability data congregated. The rates at which bookings are carried out are benchmarked against Yapta’s rich data from over 8,500 customers, against the Best Available Rate (BAR), and compared with the contracted rates. This process assists in identifying the areas where rate performance can be improved and when to utilize dynamic versus static rates. The ongoing measurement of rates attests more confidence in the value that is being delivered post-negotiations and detects the issues which are to be addressed immediately.
TravelAI’s policy recommendations outline the savings associated by enforcing the policies. Yapta’s provision of access to all available rates during the booking process brings visibility to the travelers who willingly book upgraded rooms when standard rooms are available. It also recognizes when travelers are not booking contracted rates even when they are available. These policy improvements alone have proven to drive significant savings for managed travel programs.