Dear Directors of Revenue & Revenue Management Experts,
One of our missions here at Pace is to improve your efficiency and make you smarter.
Yes, indeed, you read that right. We want to make your work-life easier, more interesting and more fulfilling.
As a former DRM, I also might have been as skeptical as you about this opening statement, yet hopefully slightly curious as well! How could we possibly improve your efficiency, because you already know what you have to do on a daily/weekly/monthly basis?
So, allow me to ask this: have you ever identified what you spend the largest part of your days doing?
Does producing statistics, analyzing these numbers, coming up with pricing decisions, and then checking and double-checking your pricing decisions sound familiar? This is something that I find as the most common complaint from RM professionals - the lack of time in their day.
Why does it have to be this way?
Well, on a number of occasions there are no systems to assist you - or when there are systems in place, there is a lack of trust in them and hence, you spend time validating all of the pricing recommendations just to prove them wrong for that one night.
What if I were to tell you that there is finally another way?
What if you could spend your days doing less of the manual calculations (even in excel, as much as you love it!), and more time on strategizing and being creative in imagining new ways to improve your profits at your properties?
If the latter sounds more like your cup of tea, look no further.
Here at Pace, we have changed the game by launching Autopilot mode in July. In this blog post, I want to talk to you, dear revenue manager, about moving towards automation and why it is actually good for you.
Pace’s Autopilot now takes care of the continuous dynamic pricing by running an optimization each hour for the full 365-day booking window for each room night. It therefore has your back on the daily pricing task that you used to spend an enormous amount of time double-checking. In fact, our Autopilot customers say that they can now focus on just validating 20% of the nights (the ones with the highest importance) and the 80% of the days are left to run on their own.
We believe that with this level of pricing automation, you should be able to move away from the manual and mundane data analysis to a driver of revenue strategies and commercial opportunities.
As a revenue manager, you probably have had multiple ideas of things that you could do, but never had the time.
With our system taking care of the speedy calculations and automatically adjusting your rates, your mind can focus on more complex tasks and on the ‘bigger picture’.
You can now spend your time:
- Identifying opportunities for growth, both in revenues and profits.
- Take a look at what is happening in your market.
- Take a broader look at overall long-term trends and predicting future patterns.
- Analyse your pricing positioning in more complete metrics against price/value metrics as well as.
- Complete that interesting project around Food and Beverage revenue management or distribution cost, and anything else that may have been lingering at the back of the mind.
The Age of Automation is here to stay - so by using automation to your advantage with Pace, you can become more productive and become the revenue strategist that you have always wanted to be!
From Pace with love, Minna