Published on : Tuesday, December 17, 2019
Aiosell is a unique B2Bproduct that uses Artificial Intelligence & Machine Learning to do dynamic pricing and revenue optimization for hotels, resulting in improved occupancy and higher rates, and reduction of operational costs and overheads. The system uses several internal & external factors to determine rates real-time (occupancy, demand, lead-time, competition, seasonality, weekday, time of booking, etc), which uses automation and AI to connect to all online distribution channels and result in maximizing revenues and occupancy.
Aiosell was conceived by hospitality experts as a natural need in the industry. Siddharth Goenka, MD of Octave Hotels runs a chain of 7 hotels in Bangalore and while optimizing his hotel business, was looking for rate intelligence tools that could help him optimize rates for his hotels and reduce his manual overheads and maximize business. When he realized that there was no available product like this in the market, he teamed up with Smriti Singh (ex Revenue Manager ITC Hotels) to conceive, design and develop Aiosell.
Today, Aiosell is a bootstrapped / profitable startup that serves 150 hotels in over 100 cities across hotel segments like 5 star, 3 star, 1 star and independent home-stays. The company can boast of several reputed chains as their clients including Fern Hotels, Sun n Sand Group, Summit Hotels, Leisure Hotels, Panchavati Group. The company also has international chains and hotels located in countries like Thailand, Malaysia, Singapore, Philippines, Dubai, Kenya, Russia, Czech Republic, Norway, UK, and the USA.
Hotel rooms are a perishable commodity (similar to airline seats and movie tickets) which need to be sold at the right time, at the right price, to the right customer to get maximum benefits, and that is what Aiosell’s unique RMS helps hotels around the world realize. There are several consumer behavior changes that have happened in recent years, that have led to the emergence of this requirement. Due to proliferation of smartphones and availability of cheap internet, 60-80% of travelers around the world have started to book hotels online using OTAs (online travel agencies) like Booking.com, Expedia, and Makemytrip, Google. Due to easy and cheap availability of rooms online, most customers are delaying their hotel booking decisions to last minute, reducing average lead times from 10 days to 48 hours. This change has redefined the revenue management paradigm for hotels, and the need to do change hotel prices real-time using AI at every hourhas become even more important. Most traditional revenue management systems use past data ONLY to give pricing decisions, but they do not use current contextual parameters to adjust these price recommendations, and this is the biggest USP of Aiosell.
Aiosell integrates with several PMS (Property Management Systems) and Channel Managers across the world to offer a fully automated, all-in-one hotel technology solution that can increase business for hotels. The system gets real-time inventory status from the hotel PMS, uses its expert algorithms to decide real-time rates, and pushes them to online channels and OTAs. Moreover, it receives bookings real-time from these OTAs and pushes them back to the hotels, thereby creating a complete automation cycle that boosts the hotel’s productivity and reduce its operational and marketing costs. Aiosell provides a direct booking channel (Booking engine) on behalf of hotels that can reduce the hotels’ distribution and commission costs