RevApp’s goal is to save hoteliers and vacation rental managers time and resources, and increase their profits. Therefore, it offers a sophisticated machine learning dynamic pricing tool that allows them to capture the market dynamics in real time and gain any missed profits by maximizing their room revenues and reducing their fixed costs. In this way, our company also automates the room pricing process and helps them save significant time and resources.

First of all, the majority of hotels and vacation rentals are currently stuck at the fixed-rates pricing model; they hire one or more employees to handle the revenue management. The revenue manager manually updates the prices based on market dynamics, such as demand and competitors’ rates. Due to the high number of variables that are correlated with the market rates, this approach leaves enough room for pricing mistakes and missed opportunities. The revenue manager is either a well-trained revenue manager or a staff member who has been assigned to do this task part-time. Secondly, especially the small hoteliers, who lack the essential financial resources, try to implement the pricing on their own. This results in time-consuming and challenging tasks that require a lot of time and resources when it comes to the hotel management.

RevApp is offering a machine learning room pricing tool, currently focusing on small and mid-sized hoteliers and vacation rentals’ managers that will allow them to capture any missed profits by maximizing their revenues and reducing their fixed costs and time allocated to this task. Our model -which takes into account demand, occupancy level, lead time, property, room and market characteristics, competition and seasonality- implements machine learning techniques in order to perform dynamic pricing and suggest an optimal renting price, which is automatically filled in the Property Management System. In this way, our tool saves substantial time and helps the customer to make more accurate real-time pricing decisions in order to convert the page visitor into a customer/guest.