Established in 2015, Amaris Hospitality is a leading hotel investment and management company with a proven track record in delivering operational excellence and outstanding customer experiences across their properties. Amaris presently manage a portfolio of 30 hotels in the UK and Ireland, including prominent, international brands such as Hilton, Hilton Garden Inn, DoubleTree by Hilton, Mercure and Ibis Styles.
We recently connected with Russell Low Group Director of Revenue Management for Amaris Hospitality, where he spoke to us about his experience of using the Rate Insight tool and how it has enabled him and his team to make more informed pricing decisions and construct a pricing strategy to navigate Amaris Hospitality through an especially volatile period.
"Rate Insight presents all the necessary information in a straightforward and easy to read dashboard, suitable for every member of the hotel commercial team to interpret, not just Revenue Managers."
Rate Insight presents all the necessary information in a straightforward and easy to read dashboard, suitable for every member of the hotel commercial team to interpret, not just Revenue Managers. The range of information we access on the dashboard, including the simple colour guide, fosters much greater internal collaboration. We can engage in important discussions with the wider team, without subjecting them to the more granular level of data that the Revenue Management team tends to revert to.
Along with the dashboard, you can switch effortlessly between channels and all rate types, which provides us with an all-encompassing view of our market position. And for that reason, decision making has become more agile as we no longer have to manually conduct data analysis on our market and our competitors.
As well as showing live rate information, Rate Insight uses past data to allow you to go back and pick specific dates to compare rate changes and view the rate evolution up until the day of arrival. This gives us the opportunity to fully evaluate our rate management strategy and rate changes versus our competitors. We can see where we hit the mark but also review any potential missed opportunities and identify areas of improvement, to refine our strategy for better distribution decisions. It also allows you to view previous event dates that are repeating and identify the perfect time to amend rates.
"Since using Rate Insight we can check our competition’s real-time rate information in an instance and see how our rates compare to our compset in the coming days, weeks, and months in a straightforward manner."
Since using Rate Insight we can check our competition’s real-time rate information in an instant and see how our rates compare to our compset in the coming days, weeks, and months in a straightforward manner. Additionally, it gives you the ability to set your own primary and secondary compset, so that, depending on events, demand or focus, you can clearly view compset rates. This means we now hold a far better understanding of rate and demand changes in conjunction with our positioning in the market to optimise rates and capitalise on revenue opportunities. Our primary and secondary compsets are also easily modified, so there is an evolution of the compset being used which is incredibly beneficial.
"Rate Insight has been designed for any user to pick up quickly, understand the real-time rate information provided and draw valuable conclusions, to update and optimise rates for the best possible revenue outcome."
Rate Insight is an intelligence solution I think all revenue professionals should try out as it offers a whole new level of intuitiveness. It has been designed for any user to pick up quickly, understand the real-time rate information provided and draw valuable conclusions, to update and optimise rates for the best possible revenue outcome. On the flip side, there is also a wealth of much more in-depth analytics available to those who require it and wish to make further use of it.
The current circumstances which have materialised as a result of COVID-19 have meant that everyone’s time here at Amaris Hospitality is at a far greater premium than ever before. In the past, the process of manually analysing our compset, running parity checks and setting rates was a lengthy process. Now the process has been completely streamlined by Rate Insight, each morning our teams are able to assess our positioning in the market and review and fine-tune our rates at the click of a button using the Rate Insight dashboard.