Customer Success Story - PT. Bobobox Mitra Indonesia

About PT. Bobobox Mitra Indonesia

Bobobox_Mitra_Logo

Since 2018, PT. Bobobox Mitra Indonesia has offered travellers a different accommodation experience at 14 locations across Indonesia, with state-of-the-art sleeping pods at an affordable price. Each pod is specially designed for maximum comfort, to provide high-quality rest and embedded with the latest technology, all controlled via the Bobobox mobile app.

In a recent interview with Namira Fashya Muchnizon, Revenue Manager at PT. Bobobox Mitra Indonesia, we got to know more about how Rate Insight has greatly improved the time efficiency of her team during the Covid-19 pandemic. By eliminating the need for labour intensive processes such as a competitor analysis, Namira has been able to focus on setting the right pricing strategy, which is what matters most for this hotel group.

"We no longer have to research and collect data on a manual basis. We get the exact information we require, whenever we need it, be this top-level or in-depth insights."

Efficient competitor analysis and rate management

The PT. Bobobox Mitra Indonesia revenue team is centralised at the hotel’s headquarters and currently one revenue specialist is assigned to handle five to eight properties, with six different distribution channels for each property. Doing a manual competitor analysis for each property would be incredibly difficult, time consuming and result in a loss of accuracy.

Now with Rate Insight, the revenue team is presented with all the information of a competitor analysis in one clear dashboard. This streamlines the entire process and saves us a huge amount of time.

We also operate in a market which is competitive year-round and sensitive to minute changes in price, so our pricing and distribution strategy must be almost perfect. Therefore, we need to be updated throughout the day regarding price and market developments, and that’s where Rate Insight’s real-time rate shopping excels.

Comprehensive view of the market

Rate Insight provides us with a 90-day market overview which displays any changes in demand and upcoming events in the area. This is combined with live pricing information on our primary and secondary compset, and rate disparity checks to reveal a detailed view of our market. The overall result is far superior pricing analysis to what we had in the past.

Our time efficiency has improved too, we no longer have to research and collect data on a manual basis. We get the exact information that we require, whenever we need it, be this top-level or in-depth insights.

This enables faster, data-driven decision making so we can take advantage of changes in demand and jump on opportunities to yield. Previously, several hours of the day were taken up with competitor research, now we can use this time to focus on strategy and implementing tactics to increase revenue.

"With Rate Insight, the revenue team is presented with all the information of a competitor analysis in one clear dashboard. This streamlines the entire process and saves us huge amounts of time."

PT. Bobobox Mitra Indonesia Indoor hallway

Historical rate evolution and future demand for multiple properties

Rate Insight is exactly what we need to make pricing decisions for multiple properties across different regions. The pricing analytics for all of our hotels are in one calendar styled dashboard. Along with the real-time rate information we can also check our rate history compared to the rest of the market, including our compset. This lets us analyse patterns and trends to see if our rate management is performing as we would like and make improvements to the strategy, if and where they are needed.

Then with the market demand tool and local events highlighted in the rate shopping calendar we are able to check and forecast future market trends as well. We can see quite quickly whether we should increase or decrease rates based on future demand and the local event database.

Proactive decision making in unpredictable market conditions

With our team still working from home at present, communication is not always as effective as working side by side in the office. Yet having Rate Insight means we are far more confident in making the correct decisions without the need for lengthy discussions between the team. The key insights are right in front of everyone and the data speaks for itself.

Our market is particularly price sensitive, which has been amplified further in the crisis. We are now not only competing with properties in the same class but also higher-level properties which have been reducing rates to attract consumers, and we expect this price-war to continue when market demand picks up again.

Rate Insight has significantly helped in terms of time efficiency during the pandemic and in recovery there’s still a need for us to take the initiative and make quick pricing decisions in the face of fierce competition.

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"Rate Insight means we are far more confident in making the correct decisions without the need for lengthy discussions between the team."

A word to your peers

I would definitely recommend that revenue professionals try Rate Insight. Firstly, because of how user friendly the tool is. We are able to decide how best to edit and then monitor our compset with ease. It is hugely advantageous to understand our positioning compared to our competitors with just a glance at the dashboard, especially in the current climate.

It is also a highly effective and timesaving business solution. The tool’s insights facilitate a better understanding of our market, positioning, compset and ensure rate parity. We can then update our rates, refine our strategy and create reports quicker than ever before.