SINGAPORE — One of Asia’s most ambitious hospitality and building solutions companies is trading hunches for algorithms with the next-generation hotel lodging revenue management system, PriceMatch.
Louis T Collection entered into a strategic partnership agreement with PriceMatch, a cloud-based revenue management system that has proven results–increasing hotel RevPAR by an average of 7.2%.
Crafted by mathematicians and econometrics graduates from Paris’s top engineering schools, PriceMatch uses a rigorous and robust forecasting and pricing algorithm, taking into account both historical statistics, and the on-the-books, competitor prices, events of the market, weather, hotel e-reputation, and other external demand data.
“The algorithm will do all the ‘heavy lifting’ of data aggregation and integration so our hotel managers will have more time to focus on strategic thinking, customer feedback, product improvement, and put in more energy and effort for our employees,” said Jing Zhou, senior director of strategic planning at Louis T. “We don’t want them getting bogged down in the Big Data!”
This new alliance further enhances Louis T’s cloud-based toolkit, aimed at helping hotels to maximize occupancy and revenue, and also extends PriceMatch’s reach in Asia through Louis T’s network.
Earlier this year Louis T Collection signed an agreement with Frontdesk Anywhere, a leading cloud-based hotel PMS software company, headquartered in San Francisco.
“The PriceMatch agreement, really, is an extension of our partnership with Frontdesk Anywhere since Frontdesk and PriceMatch joined forces in May of last year,” said Grant Healy, co-founder and chief executive officer of Louis T. “With this new agreement, our goal remains focused on further improving performance for independent hotels and small hotel chains, our solution is affordable, accessible, and easily scalable.
Louis T’s first property, Mantra Samui Resort in Thailand, has just finished the migration to the latest version of Frontdesk Anywhere, and soon will be activating PriceMatch.