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FAQs, quick fixes, and official info on every feature.
General questions:
Discover the basics of Rate Quantum
Yes, there is one month free without submitting any payment information. After that it is possible to exit at any point.
It is similar to systems used in stock market trading or airline yielding models. It was built different to most other systems - it tends to pay way less attention to traditionally-accepted metrics (like competitor pricing) instead focusing on hotel's own data and pace. It is after all, an algorithm. And thanks to AI and Machine Learning, the algorithm improves itself over time. But in all honesty it can be considered a game changer for hotels from day one.
For Algorithm - yes. For Analytics - no, since it's a part of the system that doesn't make decisions by itself and only displays data. It's also very well documented and explained.
In most cases under one hour. It's just the case of connecting Rate Quantum to your existing PMS via a certified connection and then the system immediately starts collecting information and analysing data.
Rate Quantum Analytics:
Questions on the dat aside of the system - reports and dashboards.
Yes. All Rate Quantum data is shown in real time and rate updates are done in a near instantaneous manner.
From the revenue management standpoint: yes. The system reports on your hotel's performance, source markets, booking patterns etc. It won't report on matters related to individual guest billing etc.
Auto-Pricing Algorithm
Questions on the revenue management system.
It is similar to systems used in stock market trading or airline yielding models. It was built different to most other systems - it tends to pay way less attention to traditionally-accepted metrics (like competitor pricing) instead focusing on hotel's own data and pace. It is after all, an algorithm. And thanks to AI and Machine Learning, The Algorithm improves itself over time. But in all honesty it can be considered a game changer for hotels from day one.
Updates to the logic happen every day - it's a system that continuously evolves and improves based on the data it analyses.
On average, the system updates rates 3-4 times daily for a booking window of approx. 120 days but that is heavily market dependent.
Only minimum rates - so the system can understand where 'the floor' is. You can do it by day, month or at the property level. You can also come back and change it at any point.