iRates announces demand based updates to its revolutionary Revenue Management Software
The first three iRates customers started using the iRates hourly pricing update option in their daily Revenue Management practices.
revenue. The hospitality industry, typically a conservative slow adopter, must respond to these conditions, particularly in compressed markets. Recognizing this trend and using its automation ability, iRates recently presented the hourly pricing management feature to hoteliers. "Amazon is doing pricing hourly now – why shouldn't hotels have the same tool for revenue optimization?" – explained Vadim Asadov, CEO of iRates LLC – "Don't forget – iRates is a fully automated Revenue Management system so the hourly pricing update does not mean that you need to spend more time managing your rates – iRates will do everything on your behalf requiring attention from the hotelier only when exceptional circumstances exist in the market.".
"I am a one man show so it is up to me to manage every aspect of generating revenue for theproperty." – shared Jyoti Bhakta, the owner of the Ramada San Diego Airport. – "The iRates tool allows me to do this and more. The hourly update is a huge help especially for days when there is heavy pick up, or when we are close to selling out. Additionally, I love the rate change e-mail alerts. My front desk gets these automatically and it helps them to be aware of key selling or opportunity dates."
The hourly pricing management feature will be actively promoted at HITEC this month. All iRatesresellers will get access to this feature immediately.
"Properly reacting to the needs of the hospitality industry and providing our customers with thenecessary tools for effective and efficient Revenue Management is iRates' main paradigm" – said Ira Vouk, iRates VP of Business Development – "We incorporate best practices from different industries and the power of our scientists to help our customers stay ahead of the competition".
iRates is the new-generation Hotel Revenue Management System that is extremely intelligent yetsimple to use. It sells hotel rooms at optimal price every day of the year, automates daily routine Revenue Management tasks, provides all necessary information for the manager's strategic analysis and increases the bottom line. It is adaptable and fully flexible. The core of iRates is the innovative state-of-the-art algorithm based on the mathematic theory of reinforcement learning. Its central algorithm is based on maximizing the final yield when taking into account all revenue-generating factors. http://www.i-rates.com/
About Ramada San Diego Airport
The Ramada San Diego Airport located on Rosecrans Street in San Diego, CA is the perfect place torelax in sunny Southern California. It is situated in Point Loma with easy access to all major freeways, the San Diego International airport, the cruise terminals, and top local attractions. It's the ideal destination for a beach getaway or a big city excursion. Unwind with a refreshing swim in the outdoor heated pool or stay active with a workout in the fitness facility. Regardless of your travel itinerary, before you start your San Diego adventure gear up each morning with a free continental breakfast including Hot Belgian Waffles.
Co-founder at iRates LLC