Customer Overview:

The Twin Peaks Lakeside Inn is a popular tourist property located off the shores of New Zealand’s largest lake, Lake Taupō. The 35-room property overlooks the lake and scenic mountains in the area and is only a stone’s throw from the town’s quality shops and big city style restaurants.

Problem/Goal:

The management who oversaw the day-to-day operations of the property recognised the need for a more effective, less time consuming and more accurate way of determining optimal room pricing.

Amidst overseeing operations, a recurring challenge surfaced for both the owners and management team and that was the ever-demanding task of making sure room pricing was kept continuously up to date and moreover competitive!

The pressing need for some sort of an innovative user-friendly solution became evident. To address this gap, the Motel owners suggested that some smart developers be tasked to come up with a workable and cost-effective software-based solution and although there were some interesting revenue management products on the market, they were all based overseas and very expensive.

Out of this quest, a new company was formed to develop this software and Intellisoftware emerged. After a couple of years, the developers that had been tasked to work on this idea, produced what the founders of the business described as “a rather ingenious solution.”

That solution was Hotel RevBoost – a new Australian developed software platform designed to leverage the immense power of AI and machine learning to dynamically calculate optimum hotel room rates and enable automated real-time price optimisation.

Using some ‘Top-Secret’ algorithms, the solution was fine-tuned after a painful process of trial and error to automatically analyse both internal revenue data and external competitor intelligence to adjust room rates in response to market changes and perform this task on an ongoing daily basis.

According to Manager Rajath Medappa, “Hotel RevBoost became more than just another useful business tool, it became a definite catalyst for revenue improvement. What we found that we had was a cost-effective dynamic solution that could efficiently determine prices and automatically update them on a regular basis.”

Solution:

We introduced The Twin Peaks Lakeside Inn to the Intellisoftware Hotel RevBoost revenue management platform on a trial basis. Unlike the hotel’s existing conventional property management system, Hotel RevBoost improved on the static calculations that had previously been relied upon.

Results and Benefits:

• The implementation of the software platform led to some significant revenue improvements. This growth was attributed to the more accurate real-time pricing adjustments only made possible by the Hotel RevBoost solution
• The automated pricing updates eliminated the need for manual intervention, allowing the property’s Revenue Management team to focus on some particularly important strategic initiatives, which had been put on the backburner, as well consider other customer experience (Cx) improvement projects
• The average daily room rate increased by 20%
• The hotel enjoyed a massive 32% rise in its occupancy level and, by utilising AI-driven pricing optimisation platform the hotel reported a remarkable 61% increase in revenue within the first 12 months of adoption

Outcome:

Overall, the collaboration with Intellisoftware and utilisation of the Hotel RevBoost platform not only maximised revenue, but also transformed the way the Twin Peaks Lakeside Inn approached revenue management. The integration of

AI-driven technology with the hotels’ existing PMS positioned the property as an industry innovator, differentiating it from its competitors.