Atomize, a next-generation revenue management software and trivago, a global search platform for accommodation, have announced a collaboration for better serving the hotel community in navigating varying demand, expecting the future, and improving hotels’ ability to generate revenue.
Industry sources stated further that this is the outcome of the current market conditions that remain volatile and historical reservation patterns do not offer an accurate picture of future demand. New travel patterns have formed tough and often unforeseen situations for hoteliers. The ability to predict demand and formulate an optimized and adaptable pricing strategy is a real challenge for today’s revenue managers.
Alexander Forstbach, Chief Data Officer at trivago commented: “We have long realized that our search data is a valuable asset in hotels’ quest to provide the right price to the right guest at the right time. Making this data available to hotels will help them better align their offers with guest expectations and improve conversion rates. In Atomize we have found a perfect partner to unlock this potential for hotels.”
Head of Product Ellen Hartelius at Atomize stated: “Atomize has a robust pedigree in data modeling, and right from our inception we identified that comprehensive guest search data was an underutilized asset in the world of hotel revenue management. Incorporating trivago’s data into our algorithm represents a seismic shift in room pricing and will accelerate the adoption of pricing automation.”
Trivago’s search platform claims to compare over 5 million hotels and other types of accommodation, in over 190 countries. It further stated that it offers comparisons for accommodation based on price, location, availability, ratings, and other amenities, and is built on information from a large number of accommodation providers.
According to industry sources, the number of searches performed on the platform every day globally offers a reliable indicator of future travel intent. trivago will be supplying this granular search data to Atomize in real-time, to complement the hotels’ reservation data and build a comprehensive picture of future demand.
So what’s at stake in the partnership? As per the statement from both the firms, the search data will be utilized by Atomize to enhance its demand modeling capabilities for all future dates and will enable Atomize to optimize its customers’ room prices more effectively.
This will empower Atomize customers to be more proactive when reacting to changes in market demand and adjust their rates before the competition. A robust competitive advantage that will allow Atomize users to make the most of emerging revenue opportunities, in their specific market, for all future arrival dates.