Duetto has made Advance, its real-time, dynamic revenue optimization solution, available to hotels worldwide.
“Advance is a set of tools for near real-time rapid response to market changes to capture revenue in an automated way, driving both RevPAR and operational efficiencies," Duetto Chief Product Officer Darren Koch said in a statement. "The constant data monitoring identifies triggers and automates room rate increases based on demand, but also optimizes forecast accuracy through leading market indicators. Advance’s automation and frequent updating of third-party data sources reduces the manual work required to collect local market event data from various sources, but also creates context and a recorded history."
Using Dynamic Optimization, Advance generates new rate recommendations as needed to ensure that rates are optimized to capture sudden changes in demand in line with hotel booking data. Dynamic optimization leverages the property's existing pricing framework and specified constraints for base rate bounds and acceptable changes. It gives hotels peace of mind knowing that their rates will always remain competitive, flexing up and down – or remaining stable – depending on market fluctuations.
Core to Advance is an extended and exclusive data package that includes an industry-first revenue API delivering demand data and events data, including:
- Competitive rate intelligence: High-quality, reliable rate shopping data that updates multiple times per day, providing hotels with up-to-date information on how rates are fluctuating in their markets.
- Market search: Market demand data helps revenue teams surface trends and seasonal demand patterns. Coupled with Brand.com web traffic data, Advance builds out a more exact picture of customer demand and price sensitivity, as well as marketing efficacy.
- PredictHQ recommended events: Duetto Advance integrates PredictHQ’s intelligent events data spanning festivals, concerts, conferences, sporting events, and more, enabling hotels to identify market signals driving changes to demand from events to maximize revenue and create a historical record for future forecasting impacts.
Central to the platform is CommandCenter, Duetto’s customizable business intelligence dashboard. For Advance users, this delivers additional data inputs and visualizations. CommandCenter gives hotel revenue teams unparalleled visibility of the revenue performance of their properties, enabling them to immediately identify and capitalize on the largest opportunities in their business, faster than ever before.
Users can immediately see which days require attention due to unusually high or low demand, and act upon this. Customizable data views enable users to view data for one property or one thousand - and zero in on specific properties or clusters that are over or under-performing.