The new revenue optimization product suite enables hotels to dynamically optimize room rates in real time, improving RevPAR.
San Francisco, November 6, 2023 - Duetto, the hospitality industry’s #1 Revenue Management Software (RMS), has announced today that Advance, its real-time, dynamic revenue optimization solution, unveiled at ITB in March, is now available to hotels around the world.
“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. 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,” explained Darren Koch, Chief Product Officer, Duetto.
Real-time Pricing Recommendations
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.
Advance Data Partnerships
Core to Advance is an extended and exclusive data package that includes an industry-first revenue API delivering demand data and events data.
- 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.
Actionable Business Intelligence
Central to the Duetto Revenue Strategy 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.
Duetto Advance provides real-time, dynamic revenue optimization to enable rapid response to market changes. It enables hotels to create a competitive advantage through market and events data direct from the source to provide context for demand. Never miss an opportunity to increase revenue.
Interested in finding out more? Get in touch to request a Demo.
About Duetto
Duetto delivers a suite of SaaS cloud-native applications for hospitality businesses to optimize every booking opportunity for greater revenue impact. The unique combination of hospitality experience and technology leadership drives Duetto to look for innovative solutions to industry challenges. The software as a service platform allows hotels, casinos, and resorts to leverage real-time dynamic data sources and actionable insights into pricing and demand across the enterprise.
More than 4,000 hotel and casino resort properties in more than 60 countries have partnered to use Duetto’s applications, which include GameChanger for pricing, ScoreBoard for intelligent reporting, and BlockBuster for contracted-business optimization.
In both 2022 and 2023, Duetto was named the world's #1 revenue management system in the HotelTechAwards.
For more information, please visit https://www.duettocloud.com/