Liveshop will feature real time rateshops from major online travel agents and metasearch channels such as Expedia, Booking, Trivago and Tripadvisor for the hospitality industry.
This feature will also augment Hotelsoft One platform, which is the company’s flagship product. Hotelsoft One is a cloud based integrated Revenue Management, Business Intelligence and Rate Shop software that uses “Intelligent Pricing” big data and machine learning algorithms. The cutting edge platform incorporates organic demand of the hotel with external demand influencers such as compset pricing, airfare, city events, TripAdvisor ratings and other third party data to make smarter pricing decisions for hotels.
“This enhancement takes our product offering to the next level and will provide our clients invaluable market intelligence data that will assist the hotels to offer more accurate pricing and help add to overall profitability,” says Vish Bhatia, co-founder of the company at the launch event.
Unlike some of the other softwares in the market, Hotelsoft One uses demand based pricing as a foundation of “Intelligent Pricing Engine” and layers in price optimization to provide more accurate demand and market based pricing. Hotelsoft One is a modular software that can be implemented separately or as a single platform at the property or the chain level.
The full featured Rateshop software provides rate information from traditional distribution channels such as brand.com, OTAs, as well as rates from metasearch channels and alternate channels such as AirBnB, VRBO and HomeAway along with airfare data.