SAN DIEGO, June 16, 2016 /PRNewswire/ -- In conjunction with the upcoming HITEC convention, iRates LLC announced first ever public Revenue Management Server for beta testing. As of today, any hospitality company including PMS providers, hotel consulting company, hotel chain or even an individual hotel property can get an access to the most advanced adaptive real-time algorithms for obtaining price and stay restrictions recommendations for any hotel property in the world.
iRates RM Server uses unique hotel's data to maintain the most optimal prices for the next 365 days, on a 24/7 basis, for transient rooms as well as group booking requests. All factors affecting demand fluctuations for the hotel in question will be automatically counted for. Then RM Server will instantly convert them into the property's profit and RevPAR improvement.
"We have decided to offer everybody an opportunity to use our proprietary innovative machine-learning algorithms, – said Vadim Asadov, iRates LLC CEO – Your IT team can get detailed API description to upload your data to our server and get all necessary recommendations – daily transient rates, stay restrictions, group pricing recommendations, etc. It's a simple process of data exchange that is now publicly available, first time in the history of Hospitality Industry."
API link and documentation are available upon request by contacting the iRates team.
iRates is the new-generation hotel Revenue Management System that is extremely intelligent yet simple to use. It works in a real-time data environment providing instant optimal changes to the hotel's room rates, stay restrictions and booking channels according to the real observed demand fluctuations. It sells hotel rooms at optimal price every day of the year, automates daily routine Revenue Management tasks, and provides all necessary information for the manager's strategic analysis and significantly increases RevPAR and the bottom-line profits. iRates' auto-pilot mode allows for the adaptive adjustments to be made as often as needed, multiple times an hour. The core of iRates is the innovative state-of-the-art algorithm based on the mathematic theory of adaptive reinforcement learning. Its central algorithm is based on maximizing the final yield when taking into account all revenue-generating factors.
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SOURCE iRates LLC