In the last few years, the technology sector supporting hospitality has witnessed an unprecedented technological revolution. Credit, as in many other fields, is also due to artificial intelligence, which has made hotel software increasingly sophisticated and automated, making it easier for hoteliers to work with.
Implementing AI-based tools can simplify and make processes more efficient, and increase revenue while maximising profit. Blastness has implemented various AI and machine learning systems in its software, particularly in its digital marketing activities, pricing strategy management and market analysis to specifically support hospitality businesses to maximise revenue.
One of the most interesting areas of artificial intelligence that Blastness has invested in in recent years is automated management systems for search engine and metasearch engine online advertising campaigns. The Bid Management System developed by Blastness tailored to the hotel market uses artificial intelligence and machine learning algorithms to manage pay-per-click campaigns focused on driving bookings on search engines and metasearch engines.
The BMS campaigns run by Blastness are in seven languages and over 200 countries and ensure an always-on approach, which provides a dynamic and potentially unlimited budget to ensure the highest possible performance at all times and make the business competitive with respect to the high advertising investment capabilities of OTAs.
Thanks to AI, the BMS is able to manage more than 60,000 auctions an hour and 200,000 keywords, processing a large amount of data from different systems connected to the business (Booking Engine, PMS, CRM, Market Intelligence, Rate Shopper, etc.) and by analysing campaign performance in real-time to automatically adjust the bidding and adapt it to market fluctuations for better performance, direct bookings and increased revenue.
The Revenue Management System is an automated and semi-automated processing and management system for pricing strategies. Blastness offers hoteliers two RMS versions: the first one, Rules, creates pricing strategies through a set of rules based on calendar, occupancy and booking window. The second one, Algorithm S2, uses intelligence algorithms to process real-time market, site and hotel-connected data such as CRS and PMS, to determine estimated occupancy per date and to suggest optimal rate changes quickly.
Artificial intelligence algorithms also allow the Revenue Management System to determine the estimated occupation for each date with a very high degree of precision, after 60/90 days the accuracy is between 92% and 95%.
Hoteliers have increasingly timely and accurate information to manage their rates and can rely on a tool that allows them to automate rate changes and respond more immediately to changes in the market, thanks to the AutoPilot feature.
Market Intelligence is a tool that analyses the price index, the occupancy level of each location for each date, and relevant events in the area in real time to determine the ideal price point.
The system developed by Blastness is a predictive solution that uses artificial intelligence algorithms to define the a hotel’s competitive set based on objective factors and constantly updates it according to data-driven logic.
This way, the hotel will have access to broader and constantly updated information compared to that provided by the Competitive Set normally used, which is established by the hotelier based on subjective criteria and only updated periodically so you can identify the areas of opportunity offered by the market.
