HITEC 2019 News: Infor Introduces New Solution for Hoteliers to Simplify Pricing
Infor, a provider of industry-specific cloud applications, launched Infor Hospitality Price Optimizer (HPO), to be generally available this summer. Infor HPO is a comprehensive, built-for-the-cloud solution that delivers pricing decisions for hoteliers. The application considers the pricing process from the guest’s point of view, including what sources a guest looks at, and compares, to make a booking. Infor HPO will help hoteliers make better decisions more quickly, confidently price rooms left to sell, and increase bottom-line profits.
Hoteliers have a lot of challenges in their day-to-day jobs, and these teams face fluctuating variables that often create uncertainty in pricing decisions. Infor HPO will alleviate that uncertainty with data-informed answers to vital questions such as: What price I should sell my hotel rooms at today? Should I follow my competitors’ pricing? Is there a price war going on? How do I shift bookings from OTAs to internal? What is the correlation between the change in my bookings and competitor prices?
Infor HPO can provide a strategic price and distribution channel on which to publish this price, factoring into account distribution costs for the channels, which will help to boost revenues and profits. Infor HPO also provides simulators to predict the impact that a change of price on a given day will have on demand and expected revenues. The solution uses competitor rates in a smart way to determine whether a hotel is a follower or a leader in the market and, based on that assessment, uses competitor prices in its final price recommendation. Additionally, Infor HPO will define which hotels should be considered competitors from the consumer perspective. Finally, Infor HPO is helping hoteliers be more agile through real-time updates that reveal movements in the market and then update external systems with the adjusted strategic price.
Through extensive research by Infor’s in-house design agency, Hook & Loop, the application was built with the user in mind. Its mobile-first design adapts to the marketplace’s current way of working and the imperative to access information from anywhere at any time. Leveraging Infor’s Coleman artificial intelligence platform for infused text and voice interaction, and Infor Ming.le social business capabilities, will add an additional layer of ease of use, and Infor HPO’s dynamic desktop user experience will allow users to customize what information they want to see and when they want to see it.
The launch of this new product, built on the backbone of Infor OS, further strengthens Infor’s global platform of cloud solutions for the hospitality industry. Infor HPO’s seamless integration with the flagship Infor HMS hospitality property management system, immediately extends the value of Infor customers’ current technology investments.
For more information please visit: https://www.infor.com/blog/hotel-pricing-solutions-how-infor-hpo-makes-a-positive-difference-to-the-bottom-line.