A Chester hospitality tech firm has pioneered an intelligent room booking solution which maximises hotel occupancy using controversial dynamic pricing while, it claims, increasing guest choice.
The state-of-the-art system by Hop Software, launching this Wednesday (November 27), is predicted to resonate with hospitality businesses looking to sell more rooms to off-set new costs such as hiked National Insurance contributions.
Dynamic pricing hit the headlines in August after Oasis fans saw reunion tour tickets surge from £150 to over £350 whilst they queued online, sparking an inquiry by the competition watchdog.
However, dynamic pricing is a long-accepted practice within hospitality to reduce or increase room prices in low or peak seasons, balancing fluctuating customer demand.
The new booking engine from Cheshire-based Hop intuitively tracks demand and enables hotels to adapt pricing in real time, including offering discounts without relying on third party booking sites.
It also tracks guest behaviour, giving hoteliers key insights and data to help up-sell on rooms by offering appropriate upgrades and add-ons tailored to individual needs and choices.
Described by Hop as the biggest development since the firm’s establishment in 2017, the booking engine is the product of two years of building and design, and follows an extensive customer ‘listening’ exercise with its global clients.
The Hop team believes the technology will boost UK hotel revenues and increase guest satisfaction, unlike the experience of disgruntled Oasis fans which led to the band dropping dynamic pricing for US gigs on their reunion tour.
“Dynamic pricing has been used in hospitality for many years now. We are not looking at Oasis-style selling, with hundreds of pound jumps on prices,” said Hop COO, Sharon Smith. “In hospitality, occupancy fluctuates frequently. Rates can be increased or decreased, depending on demand and seasonality.
“For hospitality businesses, what the new booking engine offers is the functionality and flexibility to increase direct bookings, increase occupancy and boost revenue through offering targeted additional services. There is also much less administrative time.”
For the guest, meanwhile, Smith promised a simple, user-friendly experience which is more personal and requires minimal clicks to reserve, from any device.
She added: “The marketplace is evolving hugely just now and at a very fast pace. We wanted something to be best in class. Our competitors have bits of this but we wanted to tick all the boxes. It’s the biggest piece of development since we started as a company.”
Individualised requests can be handled within multi-room bookings using the new Booking Engine, meaning group guests don’t have to phone reception to request pet-friendly rooms, baths or special menus, while virtual assistants help with requests, freeing hotel staff to focus on guest experience.
“At the moment you’d have to ring up the hotel for different rates, plans or services,” Smith went on. “However, the system allows you to personalise, organise a bath or meals or other services within a multi-room booking which is really helpful for the hotel and the guest.”
Existing clients will move over to the new booking engine within days, with further developments in January 2025.
Hop Software was started by hoteliers, Richard Drummond and Jon Erasmus alongside director Ronald Tweedie, in response to frustrations at costly and outdated hospitality systems. In the seven years since its award winning hospitality property management system has secured over 250 clients on four continents. The company is currently scoping the potential to open a new South Africa office.
