Customer: Diamond Resorts International, USA
Product Used: RTCorp | Since: 2010
“RateTiger helps us find out where we are in the market, when we used to rate check manually we never really knew. RTCorp has enabled us to become competitive within the hotel marketplace. We can now more easily position our product at the low-end of the market as a starting point and if necessary push rates down or up depending on demand and/or need for greater market exposure. It is a great tool that is supporting our branding exercise to increase exposure across OTAs.”
- Eric Gravelle, National Revenue Director
- Optimize prices
- Compare competitors
- Increase OTA exposure
Background
Diamond Resorts International is a time-share company renting properties throughout the year when owners are not using them. Compared to traditional hotel models, time-share lets are a different form of accommodation provision and way of traveling. The company needed to improve the online sales process. Since the business covers a 12-month license to rent vacant properties at the start of the year, Diamond Resorts International needs to cover costs and any further revenue is considered profit.
Opportunity
Diamond Resorts International needed to know how and where it was placed in the online marketplace, especially hotel competitive set. The business is looking to expand its leisure business and fill vacant properties all year round to further improve revenues.
Solution
The company employed IDeaS to help forecast rates and also implemented RTCorp to price shop competitors. RTCorp runs regular pricing reports across multiple channels and checks various competitors; this data is also integrated into the IDeaS platform to optimize prices. Diamond Resorts is also able to manage rate parity and ensure all channels are committed to the right offer or promotion.
Return on Investment
Opportunity: Enhancing prices by benchmarking against local competitors, while reducing the workload to manage more properties as the company expands. Diamond Resorts International is freely able to manage prices and optimize exposure on the booking channels.
Key Achievements
- Reducing rate management by 50%
- Optimizing business and rate parity
- Managing dynamic pricing to secure occupancy
|
