Revolutionizing the Hotel Industry: The Power of Differentiated Inventory Management
Gone are the days of generic room categories and one-size-fits-all pricing strategies. With the introduction of differentiated inventory management, hotels are now able to appeal to various guest segments and buying behaviors in a hyper-personalized way.
GauVendi, a leader in the hospitality industry, is putting this innovative approach into practice. With its polydynamic and feature-based inventory management system, hotels are able to decouple the physical room from the product being sold, allowing for the same room to be marketed and sold differently to different segments and channels.
GauVendi offers four unique product types to choose from: standardized products, feature-based products utilizing all room experience characteristics, combined products such as connecting rooms or multiple rooms, and virtual products that highlight specific room features appealing to specific audiences.
For example, corporate guests who are bound to their travel policy can be sold specific rooms under a name and price point that suits their needs. Meanwhile, hotels can sell the same rooms to discerning travelers or returning customers in a more personalized way. This is the future of loyalty programs, offering guests a level of personalization beyond traditional points-based systems. And for families on a budget, combined products are available at a combined price point that meets their needs.
The pricing strategy goes hand-in-hand with the product, providing guests with more transparency and giving hotels greater flexibility in their real estate sales and usage. By selling rooms based on their unique features, hotels are able to capture characteristics like location, views, designs, and variations that guests are willing to pay for.
GauVendi uses advanced sales techniques to get the right products in front of the right customers at the right price. With its machine learning algorithms, the platform displays relevant products based on a guest's travel profile, using social proof and scarcity labeling tactics. The dynamic room configurator allows guests to choose their preferred room features, making it easy to find their perfect match.
The results of this new approach to hotel sales have been staggering. On average, hotels have seen an increase of over 20% in their average room rates, with every third guest choosing a social proof-based product and 20% selecting their own preferred room features. This is a win-win situation for both the guest, operator, and owner.
It's time for the hotel industry to embrace the power of differentiated inventory management and start selling rooms in a way that truly resonates with guests. With GauVendi leading the charge, the future of hotel sales has never looked brighter.