ROME, ITALY – Lybra’s Assistant Revenue Management System - the most sophisticated, machine learning, demand-centric RMS on the market - has now integrated millions of future flight search data sets, from one of the leading OTA metasearch flight booking sites, into its algorithm, which is used – along with other macro-level demand data – to calculate future demand within a destination.
Because flight search data is a strong indicator for travel intent and, therefore, for hotel booking intent, it is particularly useful for revenue managers in establishing accurate, competitive room rates; with the integration of global flight search data, Lybra’s Assistant is the only RMS that gives revenue managers a complete, real-time, accurate assessment of future demand within a destination, up to 365 days in advance.
With the new integration, revenue managers have access to flight search data – including departure city and airport, destinations, travel dates, one- or two-way flights, etc. – and flight selections – including airline, airport, number of stops selected, flight times, etc. – directly through the Assistant RMS dashboard.
“We are going through a period of great uncertainty; for a year now, market conditions have become highly variable and all forecast models are suffering - especially the models that are based on historical data,” said Fulvio Giannetti, CEO of Lybra. “We are facing a paradigm shift in revenue management and we are happy to lead this change with our Assistant RMS.”
Giannetti continued: “Since Lybra was founded, we have always been attentive to market data and have created a technological infrastructure capable of retrieving real-time data, including tour operator demand, competitors’ prices, competitors' reputation, events, ranking, etc. This has been a very effective strategy and has distinguished our company, and our Assistant RMS, from our competitors because of the incredible results that our clients have experienced, even during the current period of depressed demand.”
With the integration of flight search data, hotels can also establish the total percentage of demand for their destination, coming from each departure country – and all of the cities/airports within each country - to determine where the most traveler demand is coming from. Knowing which travelers are interested in traveling to the property’s destination – and when – also gives revenue managers the ability to manage their inventory more effectively, by adding more inventory to the booking channels that are most popular.
Lybra’s Assistant RMS – now including future flight search and selection data – will help hotels increase visibility to travelers who are already planning a trip to their destination, to earn more bookings at the right price and through the right channel – resulting in an increase in revenue and the ability to be competitive online, no matter how the pandemic affects the travel industry.
Tags: Lybra
