A ride on the innovation track: Hotelmize is the winner of Phocuswright Europe Innovation Summit
Just in time: Hotelmize introduces the Next Generation of Profit-Maximizing Technology – meet the Virtual Contractor.
Phocuswright Innovation Summit, one of the most influential events in the travel industry, crowns the innovators with the greatest impact capacity on the tourism world each year.
Hotelmize has already been named as one of the most promising startups of 2020 by Phocuswright, and now, aiming to find the innovative solutions to speed up the recovery process of the travel market- the Hotelmize Virtual Contactor was named the EMEA People’s Choice Award Winner.
According to UN Reports, the tourism industry faces $1 Trillion Loss and 100 Million Jobs at risk from Covid-19. Travel restrictions, declining demand among travelers, cancelled planned trips and tourist attractions shut down all around the world- have led the market to lose its competitiveness (among all companies, especially small ones), and suffer a significant drop in revenue.
Integrating new Hotelmize’s solution into their booking systems, companies from all over the world, small and large alike, are better able to create a competitive advantage by increasing marginal profit and unlocking hidden revenue.
Hotelmize is a travel tech startup that has already changed the face of the tourism market, using an innovative Big Data and a Machine Learning algorithm for profit optimization. Our fully automated technology is optimizing existing booking margins and unlocking hidden profits through a secure and effortless process.
Hotelmize’s solution runs in the background of companies seamlessly, rebooking hotel rooms to capture them at their lowest price. This provides the client with the same room and amenities, if not more, for a lower cost and a higher profit.
That way Hotelmize manages to help tour operators, Corporates (Via GDS’s), travel agents, and bed banks increase their revenue, risk-free, by more than 35%.
More efficiency- more profits: Hotelmize’s new Virtual Contractor technology
Facing innovators from all different regions, Hotelmize was able to win the EMEA People’s Choice Award thanks to their new direct contracting cutting edge technology, which is provided at no additional and with no geographical or scaling limitations.
Hotelmize’s new product takes us to the next level, constituting a direct evolutionary development of the technology we have developed, that can now reap even more marginal profits and in an even more efficient way.
How does the Hotelmize Virtual Contractor work?
Hotelmize’s Virtual Contractor, is disrupting the direct hotel booking contracting world by giving all hotel resellers, regardless of their size, access to the best rates, best inventory, and the highest profit margins which were previously only available to the largest travel companies in the industry.
Especially now, when all travel companies aspire to become more efficient than ever, Hotelmize provides the market with fully automatic contracting technology, which helps their clients, whatever their size might be, gain a competitive advantage – without any additional effort.
How does it actually work?
By connecting to your system, VC (Virtual Contractor) forecasts the demand for specific hotels and dates, then it generates a target list using Hotelmize’s unique demand analysis algorithms.
VC monitors market rates over time, to discover the highest demand products at the lowest prices possible by analyzing every rate offered. Using Hotelmize’s unique price prediction algorithms, Hotelmize’s new tool can identify when prices are expected to rise in the future.
Once the prediction algorithm validates the product is both at its lowest cost and it is expected to rise, VC locks in the lowest rate and captures your allocations of high-demand travel products at highly competitive rates.
Unlock marginal profits
As time passes by, rates are increasing for everyone, but not for you since Hotelmize’s new technology has already locked in your lowest rates.
Once prices rise, our Virtual Contractor automatically posts the products back on sale at a highly competitive rate but ensures you have maximized your margins.
For example, let’s say the initial market rate for a travel product is between $1,300 and $600. The Hotelmize VC locks in your price at $600.
As the arrival date approaches, the market rate narrows to around $1,150. The Hotelmize VC posts the booking on sale at $1,120, still a competitive rate but one that gives you a very attractive profit margin ($520) with no additional effort on your part.
Create a Competitive Advantage in any market condition
Hotelmize’s vision is to bring the future to the travel world in order to maximize companies’ economic potential. Focused on delivering higher profits by leveraging big data, Hotelmize is innovating the space while bringing financial technologies to the travel industry.
Using demand forecasting, price prediction, and yield management algorithms, Hotelmize is now able to help their clients become much more competitive by holding the best rats possible to capture high demand inventory before they run out, and gain increased margins- with complete automation and with no additional effort!
Hotelmize’s client network has grown at a dizzying pace and reached 45 clients from all over the world so far. The volume of hotel bookings optimized by Hotelmize has tripled to a total value of US$8.5b, amounting to tens of millions of dollars in extra profits for Hotelmize’s clients.
Facing the future, in a period of unknown conditions- increasing profit margins without any additional cost or any restrictions is a game changer that manages to restore stability in the tourism industry and allows for all companies operating in it a competitive advantage that will move the market anew.
Eden, is a Digital Media Manager and a passionate entrepreneur since the age of 18. She is currently focused on his B.A in Entrepreneurship and Business Management at IDC Herzliya, She is constantly looking for extraordinary and creative ways to create content for social media. When she is not working or thinking about new venture ideas she is Involved in fashion and styling or working on sets and TV productions.