ReviewPro, the hotel reputation management company, has worked with Melia hotels to develop a new integrated application called the Revenue Optimizer which enables hotels to compare their daily rates, occupancy, RevPAR and competitive guest satisfaction scores with those of their competitors in order to increase revenue. The app asks the hotelier to input their prices, occupancy rates and RevPAR figures into the application alongside those of its competitors. From the analysis of these indicators and the hotel’s online reputation compared to that of its competitors, the Revenue Optimizer tells the hotelier if his or her prices are at the right level and if there are areas where the business could improve in order to be on a par with, or overtake its competitors.
Only a few months ago, a study by Cornell University demonstrated for the first time the correlation between online reputation and income. According to this research, if a hotel increases by 1 per cent its score on the Global Review Index (an index developed by ReviewPro’s patented algorithm, which reflects the online reputation of a hotel in a single value from 1 to 100) a hotel can expect increases by 0.89 per cent in the average daily price per room, by 0.54 per cent in occupancy rates and by 1.42 per cent in RevPAR. This evidence emphasises the importance for hotels to optimize their online reputation.
The Revenue Optimizer can be added to ReviewPro’s three product versions: Corportate Dashboard, Standard or Plus for 'a low' price according to ReviewPro.
Why you should buy it:
Sara Ranghi, hotels project management and brand integrity director at Meliá Hotels International said: “Integrating the valuable feedback that our customers are giving us online in our organisation has been a long‐standing priority for our chain, and working with ReviewPro was a key success factor for us on this. The joint development of the Revenue Optimizer expands our capabilities exponentially in this respect, since it automates and reduces to just a few clicks a comparison between revenue and online reputation which has proven to be an invaluable source of improvements in the management of our hotels and our pricing policy, amongst other areas”.