Pricepoint

Pricepoint by Revninja Ltd is a real-time price optimization engine designed specifically for independent hotels and hostels. According to the vendor, this software solution aims to help hotel managers, revenue managers, sales managers, and professionals in the hospitality and accommodation industries optimize their pricing strategies to maximize revenue. Pricepoint utilizes AI-based algorithms and offers seamless integration with Property Management Systems (Property Management Systems) and Channel Managers. It also provides comprehensive analysis of historical data to empower users in making data-driven decisions for improved hotel performance.

Key Features

Real-Time Dynamic Pricing: Pricepoint's AI-based price optimization engine aims to optimize room prices in real-time after every availability change, with the goal of maximizing revenue.

Integration with Property Management Systems and Channel Managers: Pricepoint offers seamless integration with Property Management Systems and Channel Managers, allowing for the analysis of historical data to optimize room prices. The system automatically pushes updated prices to Online Travel Agencies (OTAs).

Competitor Rate Shopper: According to the vendor, this feature helps hotels understand their competitive positioning in the market. Pricepoint monitors competitor rates and adjusts pricing accordingly, potentially providing a competitive advantage.

Automatic Updates: Pricepoint automatically updates room prices to OTAs, saving hotel staff time and effort. Users are notified by email of any changes, ensuring they stay informed and in control.

Mobile App: Pricepoint provides a mobile app for convenient access. Hotel staff can view, accept, refuse, or overwrite price recommendations, aiming to allow them to stay in control while optimizing hotel performance.

Historical Data Analysis: Pricepoint analyzes historical data to learn the hotel's booking curves and customer behavior models. The vendor claims that this analysis, combined with AI algorithms, generates accurate forecasts and provides insights for optimal pricing strategies.

Price Recommendations: Pricepoint's AI-powered pricing engine generates precise price recommendations. According to the vendor, this engine considers factors such as customer behavior, seasonality, and competitor rates to help hotels set optimal prices for each room type and stay date.

Easy Setup and Integration: Pricepoint offers a plug-n-play integration with Property Management Systems and channel managers, aiming to provide a quick and seamless setup process. The vendor claims that no expertise is required, thanks to its user-friendly interface.

Real-Time Performance Monitoring: Pricepoint continuously monitors performance and generates reports. It tracks key performance indicators such as Average Daily Rate (ADR) and occupancy rates, aiming to provide valuable insights for data-driven decision-making.

Push Notifications: Pricepoint enables users to receive push notifications on their mobile devices. These notifications inform users of inventory changes or pricing updates, aiming to help them stay informed and take immediate action.