The innovative new feature that puts NextRate on cruise control
CoPilot, the brand new tool from Availpro, helps revenue managers save time with a simple-to-use scenario builder that automates the process of accepting and rejecting NextRate price suggestions
We know hoteliers are busy people, and for revenue managers in particular our aim is to make your job as simple as possible. Availpro’s cutting-edge solutions are designed to help you optimize your prices, maximize your revenue and increase your occupancy. NextRate goes a long way in helping you plan ahead, but now it’s about to get even easier to control as you let the new, powerful CoPilot tool do the hard work for you.
We’ve been listening to feedback from our NextRate customers, and CoPilot is a direct result of talking openly about what you really want. And the good news is that CoPilot (as RateScreener is included within your NextRate package.
From this feedback, we heard how hoteliers are setting rates based more on the future than historical patterns. And of course, how your competition behaves is also ever more crucial to monitor. Geolocated events also play a huge role in driving price recommendations through our algorithms.
We also discovered some hoteliers are accepting NextRate recommendations without digging deeper for explanations. CoPilot goes some way to resolving that issue, and means hoteliers can be more reactive to the market. And recommendations are applied or rejected live in the moment.
Let’s get building
So what is CoPilot? Quite simply, it’s a tool that lets revenue managers automate accepting and rejecting price suggestions by NextRate. Create easy-to-understand sentences to build scenarios which set the parameters. Then sit back and allow CoPilot to take control, do the work for you and save you time. Note this applies only for a defined timeframe.
CoPilot is based on semantics – meaning the user can build scenarios with simple words and phrases. The scenarios can be based on a range of factors, including your pricing, your competitors’ pricing, occupancy, the speed of new bookings, and the market demand. A hotel can set up up to 84 different scenarios.
Here’s a few examples:
“I want to apply a decrease in price if market demand is low”
“I want to apply an increase in price if my occupation speed is fast and if my availability is below 10 rooms”
“I want to apply all increases on price suggestions if price variation is below a certain amount”
From the outside the scenarios appear basic, but behind the scenes CoPilot is connecting with NextRate to create complex algorithms. And don’t worry if you think you’ve added too many scenarios – CoPilot will flag up any problems and notify you straight away if it detects any conflict.
As with NextRate, CoPilot is constantly looking at the next 365 days ahead. But CoPilot also lets you automate behaviour on the lead time you want. For example, you can apply all the rules for certain dates, or if the lead time is between D+10 and D+30.
Currently, NextRate users are manually applying, rejecting or adjusting the recommended price. As CoPilot automates this process, a key benefit is the time you save. Gone is the need to check NextRate several times a day.
Glasgow-based Argyll Group of hotels is using CoPilot and his director, Bobby Bashir, said: “It has made my work so easy, as it now only takes 10 to 15 mins a day to update rates – it used to take me almost an hour before. It was also easy to set up, and so far has had a positive impact on the business. The most impressive feature is that you can have an alert set up when your competitors decrease their rate.”
What are you waiting for?
Overall, we believe CoPilot is truly unique in the marketplace, and offers an intuitive user experience to ensure you optimize your prices, maximise your revenue and increase your occupancy in the most efficient way. Now it’s over to you to make sure you’re putting your hotel in the best position possible. Innovation in the hotel industry offers you multiple opportunities to grow your business, if you choose to embrace it.
CoPilot at a glance
- Easy to set up – and easy to use
- Construct simple sentences to automate the acceptance or rejection of NextRate’s suggestions
- Create your own rules and have full control on your pricing
- Build up to 84 scenarios to be responsive to the market demand
Jules Prothais – global business developper, Availpro
With his dual role of Product and Partner Manager, Jules is able to take a 360-degree view of the hotel technology ecosystem and the solutions needed. With a master’s degree in international business, he is well-placed to address the issues hotelier’s face with automatic pricing. At Availpro, Jules has played a key role in developing some of our most innovative tools, including NextRate.