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Real-time hotel pricing tool unveiled by SiteMinder

HotelSiteMinder has launched Prophet, a solution that aims to improve and simplify the accuracy of hotel pricing by providing live market data.

The new tool is seen as a real-time market intelligence solution that can aid those looking to set the best hotel prices.

Prophet was unveiled at the HITEC conference and will provide average pricing information that can be refreshed on request by hoteliers – allowing them to analyse the data of competitors on a single screen.

The system will send hoteliers alerts via email regarding any fluctuations that happen in the market, allowing them to make a more informed choice when setting their prices.

According to Mike Ford, SiteMinder’s Managing Director, the tool is about empowering the world’s hoteliers who know and understand that revenue management is critical but do not have the time, expertise or budget necessary to take advantage of the rapidly-changing rates and market data that is available to them.

The tool allows the gathering of intelligence that can then be broken down to provide meaningful insight into market activity in the future. As a result, hoteliers will be able to optimise room rates, maximise profitability and also stay in front of competition in an easy and affordable way.

Such levels of competition could have a knock-on effect on prices, as hotels vie to offer great deals to entice customers in.

The simplicity of the tool, according to Ford, is a huge advantage, ensuring it appeals to a broad range of accommodation providers, from the well-known mid-sized chains to the smallest hotels.

Prophet will also complement channel management, website solutions and booking engines that are already a part of SiteMinder’s existing portfolio.

If you’re thinking of travelling abroad this year, be sure to organise your single trip travel insurance in advance

Date Created: 24 June 2016

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