AI-Powered Revenue & Negotiation Tools for Hotels

• Exhibitor: Booklogic
• Stand: Hall 8.1 | 113

Revenue Management System (RMS) & Negotiation Engine AI-driven Revenue Management System (RMS) for hotels is designed to function like a virtual sales manager. This system is developed to analyze guest behaviors, forecast future bookings, and predict revenue trends. It also adjusts room rates in real time to optimize pricing and maximize profits. Key features of such a system include:

Data Analysis: It examines historical data, current reservations, market demand, and competitor pricing to predict future trends.

Dynamic Pricing: The system automatically updates room prices based on factors like occupancy levels, forecasted demand, booking lead times, and guest profiles.

Traveler Behavior Insights: It uses AI to study guest booking patterns, stay durations, and pricing sensitivity, allowing for more tailored pricing strategies.

Revenue Forecasting: By analyzing current and past bookings, it predicts future revenue, helping identify peak periods, off-seasons, and opportunities for special offers.

Real-Time Adjustments: As market conditions change—like competitor rates or local events—the system updates pricing strategies immediately.

AI-Powered Decision Making: Over time, the AI learns from new data and refines its recommendations, improving its ability to optimize pricing.

AI-Powered Negotiation Engine: The negotiation engine utilizes artificial intelligence to engage in negotiations with visitors staying at the hotel.

Offer Generation: AI generates offers regarding price, checkin/out dates, room view, room type, extras, and similar conditions based on visitor preferences.

Offer Evaluation: The AI evaluates offers made by visitors and determines their acceptability based on artificial intelligence.

Customer Preference Modeling: It models and segments visitor preferences using distance and frequency-based heuristics to understand their preferences effectively.

Profit Maximization: BookLogic’s AI-based Negotiation Engine aims to maximize the profit of the hotel

Further information about BookLogic is available at www.booklogic.net/de/.