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Published on : Friday, November 22, 2013
Social media reputation of various hotels is directly going to have an impact on the global hotel pricing system. Amused? IDeaS Revenue Solution, the major revenue management service provider of the Hotel industry has configured a device to analyze the ratings, sentiments and reputation of hotels on major social media websites.
As a hotel industry expert or an owner, if you have considered the return on investment of maintaining excellent brand reputation in social media, here is a tool that will answer your questions to precision.
The solution developed by Brand Karma and ReviewPro enables hotels to make important pricing decision depending on the brand value and social media reputation of the hotel.
The innovative feature of this Reputation Management Pricing will enable Hoteliers to evaluate their online fame in comparison to their competitors. Factors like BAR (Best Available Rate), arrival date, length of stay and competitor rate information are taken into account while pricing. Moreover, hundreds of online travel agencies, review sites and social media platforms including TripAdvisor, Expedia and Booking.com.
Although the Reputation Management Pricing is in a beta status and due to get a full version release in mid 2014, it will surely revolutionize the hotel industry and the impact of social media will be a deciding factor in hotel pricing system.