Magna Hotel and Suites, Nairobi Experiences Revenue Growth with RateTiger
Nairobi, 16 May 2023
Recommends RateTiger Shopper & Booking Engine for all-in-one online distribution
Nairobi-based Magna Hotel & Suites has found the ultimate hotel revenue-management solution with RateTiger. This 4-star property has been using the RateTiger Shopper for rate intelligence and projection on market trends, adding value to its overall revenue strategy.
Along with it, this luxury hotel also uses RateTiger Booking Engine & Global Distribution System an overall convenience in online distribution and revenue growth.
The user-friendly interface of the Rate Shopper has proven beneficial for Magna Hotel by increasing efficiency in performance and reducing the time spent on management. The market intelligence reports provided by the RateTiger Shopper also offer insights into their OTA (Online Travel Agency) spread, allowing them to update their rates and inventory in real-time.
This luxury property has been experiencing increased connectivity and direct income facilitated by the Rate Shopper, Booking Engine, and GDS contributing to improved revenue performance and guest satisfaction.
The distribution and revenue management team of the hotel can optimize their revenue strategy and drive direct bookings by effectively managing rates, inventory, and promotions across online distribution channels.
“We have been using Booking Engine, RateTiger Shopper and GDS for the last one year. RateTiger provides up-to-date industry news, forecasting trends and strategy recommendations, fast customer service and keeps us market ready. Pooling inventory to deliver ARI updates, including system repair and update exercises, increases our communication with our other channels.” – Commented Ms. Wanjiku Mungai, Management, Magna Hotel & Suites, Nairobi.
“Team RateTiger provided hands-on assistance and quickly assisted in problem-solving with the RateTiger solutions. The seamless and interactive training about RateTiger solutions helped us to facilitate efficient onboarding.” – Summed up Ms. Mungai.
RateTiger Shopper is a revenue management tool that helps hotels maintain rate integrity and the correct pricing on various channels to optimize their pricing and revenue strategies.
The 4-star luxury Magna Hotel & Suites uses RateTiger Booking Engine to capture direct bookings from their website, reducing the dependency on OTAs and third-party channels. Along with it, it helps us seamlessly manage our room rates across all platforms.
After using RateTiger Shopper and Booking Engine, Magna Hotel & Suites now looks forward to connecting with other member-partners on the GDS network and maximizing on other RateTiger products.
RateTiger by eRevMax Shines at ATM Dubai 2023 – A Glimpse
Arabian Travel Market (ATM) is the leading global event for the Middle East’s inbound and outbound travel industry. Attending the ATM is like discovering a new book every time. This year, RateTiger by eRevMax had the opportunity to exhibit at the 30th edition of ATM Dubai held from 1-4 May at the Dubai World Trade Centre.
This event gave us the right platform to unveil RateTiger’s latest innovation. We were thrilled to see the excitement and interest among the visitors to know more about this innovation. Nothing could have been better than revealing the introduction of yield pricing in our product at ATM Dubai. The zeal among hoteliers kept our booth busy for all 4 days of the event, giving us the opportunity to connect with industry professionals and build new partnerships.
The 30th edition of the Arabian Travel Market was a resounding success, setting a new record with more than 40,000 attendees, a 29% increase over the previous edition in 2022. This 4-day event welcomed over 2,000 exhibitors and representatives from over 150 nations. The diverse range of exhibitors and participants participating in the event helped RateTiger set a new record too with the number of business professionals we met. ATM Dubai truly encapsulated the global nature of the travel industry. The energy and vibes of travel professionals coming together were unbeatable, reigniting their passion for business and growth.
ATM Dubai – ‘Working Towards Net Zero’
This year’s Arabian Travel Market (ATM) Dubai has adopted the theme ‘Working Towards Net Zero’, reflecting the industry’s commitment to sustainability and environmental responsibility. The Second Deputy Ruler of Dubai, Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum officially inaugurated Arabian Travel Market 2023.
Following this slogan, ATM focused on reducing the event’s environmental impact. They had established 3 pillars to help them achieve net zero by 2040.
We proudly say that The Middle East is a key growth market for our business. The event gave us valuable insights into the unique challenges and opportunities facing the region’s hospitality industry.
RateTiger at ATM Dubai
RateTiger’s presence at the ATM Dubai was truly remarkable. Numerous visitors stopped by our stand, and the RateTiger team enjoyed networking with clients, partners and hotel owners in person. During this 4-day event, we showcased our product to small and big hotel owners, B2Bs, OTAs and destination management companies. We described to them how RateTiger could optimize revenue management, streamline operations, and improve the guest experience.
We revealed our most awaited announcement – yield pricing – which will strategically impact a hotel business. This incredible feature allows hotel owners to create a customized pricing strategy tailored to their hotel’s occupancy level and ensures they strike the perfect balance between supply and demand. We were thrilled to see how this feature was readily accepted by the hotel chain owners. They shared their thoughts and expectations from this latest innovation.
It was a pleasure to receive feedback on how our products: RateTiger Channel Manager, Booking Engine, and Rate Shopper, simplified many hotel problems in the Middle East. We received uncountable positive feedback from many clients, partners, and friends worldwide. It gave us more strength that we are on the right track to providing the ultimate solution on the latest trends and developments in the hospitality industry.
Our presence at ATM Dubai was an engaging, innovative, and informative experience for industry professionals. We are looking forward to participating in more events in the coming days. With a vibrant atmosphere and exciting interactions with partners and clients, ATM Dubai left a lasting impression on us.
Unveiling RateTiger’s Latest Innovation at ATM: A Conversation with RateTiger’s Product Owner
Marketing: As the product owner, you’ve mentioned that a new innovation has been developed, and it’s set to be announced at ATM. Could you give us a sense of what benefits this innovation would bring to our users once it’s revealed at the show?
Alin: Unfortunately, my lips are sealed when it comes to the specific details of our upcoming innovation. But what I can tell you is that we’ve been working on an automation tool that will make hoteliers’ lives a whole lot easier. Think of it as a magical price distribution engine that automates the process, allowing hoteliers to strike the perfect balance between occupancy and price. And the best part? It’ll even get rid of those pesky Excel spreadsheets that are a thorn in everyone’s side.
We’re thrilled to report that our beta testing has been a success. We’ve got some seriously happy hoteliers on our hands. We can’t wait to unveil this innovation to the world at ATM and see the positive impact it’ll have on the industry.
Marketing: It sounds like this innovation has the potential to make a big difference for hoteliers. It’s something that would automate the process and help with price distribution, but what about the impact on revenue? Could you speak to whether this innovation has the potential to positively impact a hotel’s revenue?
Alin: Definitely! With this innovation, hoteliers will be able to automate the price distribution process and achieve a better balance between occupancy and price. This can lead to increased revenue and profitability for hotels, and for example, what we’ve seen during the beta testing was an average of 4% revenue increase.
In today’s fast-paced industry, time is money, and hoteliers who are able to save time by automating their processes can gain a competitive advantage. By automating the pricing process and eliminating the need for manual monitoring of occupancy, hoteliers can also focus their efforts on other areas that can drive revenue as well, such as guest experience and marketing.
In short, automation and revenue go hand in hand, and this innovation has the potential to help hoteliers achieve their revenue goals while also saving time and resources. We’re excited to see the positive impact it will have on the industry.
Marketing: From what you’ve shared so far, this innovation sounds like it has the potential to make a big impact for hoteliers. But I’m curious about how user-friendly it is. Can you speak to the user experience and whether the tool is intuitive and easy to use?
Alin: Absolutely! Our design team deserves a round of applause for creating a user-friendly and intuitive interface that even a kid could use…
We’ve worked closely with hoteliers to make sure that the tool addresses their pain points and helps them optimize their pricing distribution strategy.
Overall, we’re confident that this innovation will help hoteliers increase revenue while saving time and headaches. And with its user-friendly design, hoteliers can spend less time managing their pricing strategy and more time doing what they do best – creating unforgettable guest experiences.
Marketing: This innovation sounds really exciting! Are there any new features or updates that you have planned for the future to make RateTiger even more useful for hoteliers?
Alin: Sure, our focus is on further automating the pricing and distribution process, increasing visibility, and removing manual processes wherever possible while further expanding our CRS capabilities.
We’re working hard to ensure that hoteliers can connect with new channels seamlessly, making it a simple drag-and-drop process. Our ultimate goal is to eliminate the need for hoteliers to even go to any extranet at all, freeing up more of their time to focus on providing the best possible guest experiences.
So, while I can’t provide any specific details at this time, rest assured that we’re constantly working to improve our innovation and provide the best possible solutions to our customers.
Marketing: RateTiger will have a stand at ATM in Dubai this year. What are your expectations for the show? Also, if you don’t mind me asking, which days are you planning to attend?
Alin: Well, you know what they say about travel shows – it’s all about the free swag! But in all seriousness, we’re excited to be here and showcase our innovation. As for which days I’ll be here, let’s just say I plan to make the most of the free coffee on the first and second days, but my team will be at the show all four days, and I’m sure they will be happy to meet hoteliers to discuss and understand their technology needs. I’m looking forward to connecting with hoteliers and our colleagues from the industry
Marketing: I wish you a successful time at the show!
RateTiger by eRevMax in Swing at ITB Berlin 2023 – A Glimpse
ITB Berlin 2023 held from 7 – 9 March has been the talk of the hospitality industry since Day 1. As we conclude the month, still the discussions about ITB Berlin (Internationale Tourismus-Börse Berlin) are in full swing. The visitors/exhibitors are in no mood to give pause to the thrill and excitement of this successful event.
Like every year, RateTiger by eRevMax exhibited at this World’s Leading Travel Trade Show and had a great time. We weren’t sure of what was going to happen as the doors of ITB Berlin had opened after 3 years, but undoubtedly it was a spectacular event bringing a boost to our business – as usual.
After a break of 3 years due to the pandemic the slogan for this year was “Open For Change”. Following its slogan, this was the first time ITB Berlin hosted the event in person after 3 years bringing together people from the hotel and travel tech industry.
Open For Change
After a pause of 3 years due to the pandemic the slogan for this year was “Open for Change”. Resonating its slogan, ITB Berlin hosted the event by bringing people together from the hotel and travel tech ecosystem to drive change within the industry.
This 3-day event welcomed 90,000+ attendees from over 180 countries around the world making it one of the biggest centers of attraction and confirming it as one of the leading platforms. The entire hall was filled with laughter, warmth and excitement representing the value of face-to-face meetings.
With around 5500 exhibitors showcasing their business, performances from different regions, conferences, evening events on the exhibition ground, travel talks all together reflected people’s desire to meet and greet in person.
Welcome to RateTiger’s Booth
Across the engaging sessions, our booth attracted a lot of industry professionals and team RateTiger was pleased to network with customers and partners in person.
Just like the theme of ITB Berlin, we witnessed that the entire industry is Open to Change hugging the concept of Socially Responsible and Sustainable Tourism. Hotels were keen to not only digitalize the booking process but also have a simplified and efficient online hotel management solution.
Having the opportunity to connect with hotel owners, OTAs and other industry experts, we witnessed how the hospitality industry is continuously accelerating towards innovation. Seeing the zeal among hoteliers to simplify their booking process and eagerness to learn about RateTiger Channel Manager, Rate Shopper and other products, our excitement rose to a new level.
We received overwhelming responses from our various stakeholders be it clients, partners, friends as well as newcomers in the industry. With international participation growing from 50% in 2019 to 70% in 2023, it gave us the opportunity to introduce ourselves and pitch our products in new regions.
Carrying our bags of swotting, success, sales and satisfaction, we are looking forward to optimizing our products and strategies as per the industry trends to keep accelerating our business.
After a successful ITB Berlin 2023, team RateTiger will be glad to see you at the following events:
ITB India: Join us at the ITB India to be held in Mumbai from 26-28 April 2023.
ATM Dubai: Visit our Booth SS1, TT1072 to be held in Dubai from 1-4 May 2023.
See you there!
To know more, connect with us on:
For Sales related queries: firstname.lastname@example.org
For Marketing related queries: email@example.com
Target Guests from Specific Countries with Country Rates by Booking.Com
With travelers hitting the road again, it’s time to make your property more attractive for them. How about targeting international travelers this time? More international travelers mean more revenue but how to do this?
The answer is “Country Rates’.
Whether you want to expand your regional diversity, enter a new market, or target guests from a particular country – be it your own or a new one, you can do it all with Country Rate.
What is Country Rate?
Country Rate is a feature used by hotels to set specific room rates for different countries. It is a method to offer special prices or discount rates to guests from your market of choice. Hotels can set different country rates for different people coming from varied countries. Country rates may vary depending on the hotel’s location and the level of demand for rooms at any given time.
The best part is that you can apply country rates to all your hotel room types, room rates and rate plans.
Is Country Rate Applicable Only for International Guests?
No, you are free to set discounted room rates for your local people where your hotel is situated. Hotels use this strategy to boost their presence in their own region and build business relations in the local market by offering a discounted price for corporate bookings.
The peak season varies in different countries. Country rates allow you to attract travellers from different countries during the holiday season/ peak season over there by offering discounts in different markets at different times. This way hotels can achieve 100% occupancy in advance both during high and low periods. Along with it, if you apply the mobile rate feature to your room pricing strategy, you can target travelers from all platforms booking a stay from any device.
Is Country Rate Valid Globally?
Due to legal or commercial restrictions, the country rate is not valid globally and is restricted in some countries. In fact, some hotels in countries where it is valid may ask for residential proof to make sure you are not taking advantage of the discounted price to make the reservation.
Benefits of Adding Country Rates
- Target international customers from new markets.
- International customers tend to book early and cancel less.
- Sell your rooms in advance by offering special prices during the festive season.
- Appeal to guests traveling from your target regions with a special offer.
Create Country Rates on Booking.com to unlock new demand by offering great prices to travellers from countries you particularly want to target. Adding Country Rates is a proactive step that hotels can take to increase your property’s occupancy as part of their pricing strategy.
Create Country Rates for Booking.com directly from your RateTiger Dashboard through the Promotions tab.
Read here to learn more about country rates and how to apply them to your existing room rate plan.
Everything You Need to Know About Hotel Booking Window
Booking Window is crucial in anticipating revenue for any hotel or B&B owner. The number of trips a traveler will make and in how advance will they book the room is highly unpredictable. But revenue managers often try to identify a pattern in the booking window and accordingly try to leverage it for profit maximization.
Let’s see how to do this.
What is Booking Window?
Booking window is the time gap between a customer making the booking and his/ her arrival. It is the same as the lead time. Let’s understand this with an example.
John booked a room in “Hotel XYZ, India” on the 15th of October and arrives on the 15th of December. The booking window for this room will be 2 months.
In simple terms, booking window talks about how much in advance a guest makes a reservation.
This window varies according to season, location, travel demands, property types, upcoming events, holidays, and other characteristics and factors. Hotels and B&B owners often rely on the booking window to plan their room rates and allocation based on historical data. For instance, if a hotel is used to receiving 10-15% of their reservations six months before the arrival, the revenue management team might allocate a certain number of rooms in their Early Bird offer and ensure occupancy.
The pandemic disrupted the normal. With restrictions and ever-developing changes, travelers wary with apprehensions look for more flexibility. That means shortened booking window, more flexible cancellation policies and last-minute bookings. For the revenue manager, this change in travel behavior has disrupted their existing framework. Relearning and readjusting to the new normal has become a challenge.
Let’s dive further into the booking window and why it is crucial for hotel owners.
Importance of Booking Window
Knowing in advance when will the maximum number of rooms in your property be sold gives you a clear indication of what should the price of the room be. With the help of rate shopping and booking window, you can set the maximum price for the room during that period. This will help you leverage revenue maximization by setting the highest price during the booking season. But this comes with a catch.
It is only pragmatic not to show all your cards – similarly hotels need to make room availability based on booking window. No revenue managers make all their rooms available for sale at the very beginning of the booking window. The idea is to phase out, monitor the booking pace and keep a few for real-time demand, i.e., last-minute bookings during the season. Different markets have different booking windows and people can act differently during the booking phase and actual arrival.
Let’s take an example.
Suppose for the holiday season in December; most people start making their reservations in September. The end of September is your peak time when demand is at its best to get maximum bookings for December. Knowing this will help you set the highest room rates for December at that time. This will help you secure maximum revenue in advance for the season.
Increasing room prices before September end or after the cooling period in mid-October will help you lose the guest when your competitor hotel has already reduced their prices. This is how knowing guest behavior and booking window helps you leverage maximum revenue.
Factors that Decide the Booking Window
1. What is the best time to visit your city/ town?
The booking window for this time will be high as most guests will book in advance.
2. Is there any upcoming famous event or show in your area/ city?
The booking window will vary from the date tickets are sold to the event date.
3. Does the weather in your area change unexpectedly?
The booking window will be small as people will make last-minute bookings seeing the weather.
4. What is the ADD (Average Distance to Date) of your guests?
The booking window will be minimum as there might be last-night bookings or bookings on arrival.
How do I Calculate My Booking Window?
With most hotel reservation management system maintaining past booking data, identifying booking patterns and windows have become rather easy. One can easily get this information from your hotel channel manager or the OTAs you sell your rooms. However, OTAs can only provide you with the booking history of their channel only, so the safest side is to download the booking history of your property from the channel manager. It will give you the data of the reservations made from any and every platform.
Now that you know the importance of the booking window, it’s time to get the data of your room bookings and set the best room rates for the peak season. You can use your hotel channel manager and rate shopper to pull in maximum revenue.