TravelNewsAsia.com
Fri, 4 May 2018

Frasers Hospitality Develops Revenue Management Capabilities for Long Stays

Frasers Hospitality is collaborating with Duetto to design new features within an app that will yield room rates on long stays, a traditionally underserved segment.

 The new extended-stay features that Frasers Hospitality is co-developing will be available in Duetto’s cloud-based GameChanger app, which is being implemented across the company’s global portfolio.

 The revenue management system uses a system called open pricing to optimise rates for contracted extended stays in addition to traditional short stays.

The popular and highly rated Above Eleven Rooftop Bar & Restaurant, a Peruvian Japanese restaurant, at Frasers Suites on Sukhumvit Soi 11 in the heart of Bangkok, Thailand. Click to enlarge.

The app will help Frasers Hospitality to more efficiently find the right balance between long and short stays, and account for variable costs by room type, customer segment and length of stay. Having such a system would overcome manual analysis of data as well as allow for better prediction of demand that goes beyond historical guest records by leveraging third-party data such as web shopping behaviour, air traffic and weather to gauge price sensitivities and recommend optimal room rates.

“Having expanded from two properties to more than 150 properties over 80 cities, we now not only have a global footprint but also serve segments as diverse as luxury serviced residences and boutique lifestyle hotels. This requires us to have a revenue strategy solution that is capable of handling increasing complexity as we continue to scale,” said Joanne Ang, Senior Vice President, Head of Global Marketing & Sales, Frasers Hospitality. “Our enhanced capabilities will help us in pricing inventory, forecasting demand and improving distribution. This will enable us to make data-driven decisions to ensure we are achieving the best mix of business.”

Instead of traditional fixed-tier pricing where rates for different sales channels are derived from a single best available rate (BAR), open pricing allows accommodation providers to price all room types, channels and dates independently of each other based on actual demand.

 By offering more flexibility in rate adjustments, this also means that guests are not turned away during peak periods when operators would normally close channels or add length-of-stay restrictions rather than sell discounted rooms.

“Serviced residences are one of the most exciting – yet underserved – verticals in the hotel industry today. Frasers Hospitality is leading the way in developing not only this segment, but also new strategies for it,” said Patrick Bosworth, Co-Founder and CEO of Duetto.

Rates for the extended stay segment are typically inflexible and fail to account for the displacement of transient business and longer, more profitable longer-staying guests. Currently in beta stage, the new app module will be able to recommend an optimised rate and negotiation range for extended stay contracts after factoring in various costs.

“As an accommodation provider of choice among the world’s most notable multinational corporations and Fortune 500 companies, Frasers Hospitality is a natural fit as a design partner for further extended-stay capabilities within our GameChanger app and we’re looking forward to continuing this partnership for a long time,” said Mr Bosworth. 

Headlines: Mandarin Oriental Hong Kong to Close Pierre and the M Bar  Korean Air Adds Baggage Tracking Service to Skypass App  Fiji Airways Cancels All Int. Flights in July; Warns of August Reductions  Shinta Mani Wild Continues to Support Wildlife Alliance Rangers in Cambodia  Southwest Airlines Expands Partnership with Sabre  Bombardier Concludes Sale of CRJ Series Regional Jet Program to Mitsubishi  airBaltic to Resume Flights Between Riga and Paris, France  British Airways Removes Seats from Two Boeing 777-200s  New COVID19 Preventive Measures as HKIA Resumes Transit Services  Mekong Tourism Forum 2020 Postponed to 15-16 February 2021  Joanna Gunn Joins Rosewood Hotel Group as Chief Brand Officer  Bangkok Airways Waives Fees; Offers 20kg Extra Baggage Allowance  Gulf Air Resumes Pakistan Flights  CWT Partners SAP Concur Solutions  Finnair Asks FFP Members How They Feel About Flying Again  Airbus A400M Receives Automatic Low Level Flight Certification  COVID19 Interview with GM of Courtyard by Marriott Siem Reap, Ms. Ashley Lai  Int. Passenger Numbers of Asia Pacific Airlines Down 98.8% in April  Marriott Warns of More Cutbacks; Extends Furloughs and Reduced Work Weeks  Air Canada Cargo Expands Network with 5 New Destinations  SAS to Operate More Flights in June  Arna Wahl Davies Appointed Chair of CINZ's PCO Group  Boeing Resumes Production of 737 MAX  United Airlines Turns Old Uniforms into Masks for Employees  Aviation: Heavy New Debt Levels Will Weigh Down Airline Recovery  Thai Airways Flies Stranded Italians and Thais Back Home  Congo Airways Converts E175 Deal into Order for Two E190-E2s  Finnair Signs 10-Year Global Maintenance Agreement with ATR  Air Canada Looking to Raise Over $1 Billion with Shares and Notes  Air Astana Establishes Cargo Division  Hotels in Asia Pacific Report April Drop in ADR, OR and RevPAR  Fiji Airways Secures Vital Support from Government  Iain McCormack Joins Vakkaru Maldives as GM  Grand Richmond Hotel in Nonthaburi Launches Quarantine Package  airBaltic Reports 500% Increase in Bookings  Wetherspoon Unveils Social Distancing and Hygiene Plans for 875 Pubs  Air New Zealand Reopens Airport Lounges  Fiji Airways Cuts Workforce by Over 50%; Reduces Salaries and Working Hours  Air Canada to Operate Flights to 97 Destinations This Summer  Hertz Files for Chapter 11 Bankruptcy Protection in USA  Lufthansa Technik to Fit Three A350s with VIP Cabins for German Air Force  Executive Appointments as Norwegian Restructures Management  CAE USA to Develop C-130J Simulators for AFSOC  AirAsia Extends Credits for 2 Years  Rolls-Royce to Layoff at Least 9,000 People  A Song of Support and Thanks to the NHS Staff of Ysbyty Enfys, Llandudno  Aviation: Global Coordination Needed for COVID19 Measures  British & Irish Lions Appoints CFO and Director of Marcom  Hannah Loughlin Joins Six Senses Con Dao as DOSM  Finnair Looking at More Layoffs  SITA Invests in Digital IDs Designed to Replace Traditional Passports  United Airlines Partners Clorox and Cleveland Clinic to Launch CleanPlus  Biosecurity for Air Transport: A Roadmap for Restarting Aviation  airBaltic to Resume Flights from Riga to Berlin, Helsinki and Munich  Etihad Airways Expands Flight Schedule  Eric Hallin Appointed GM of Six Senses Con Dao in Vietnam  Mekong Innovative Startups in Tourism 2020 Calls for Applications  Qatar Airways Starts Codesharing with American Airlines  Airbus Opens First Dedicated A220 Production Facility in USA  Delta Installing Plexiglass Shields at Airports  Finnair to Resume Long Haul Flights in July with Strong Focus on Asia  Hong Kong to Target Domestic Tourism; Reports April Visitor Arrivals  Airbnb Appoints Tara Bunch as Global Head of Operations  Hyatt to Layoff 1,300 People Globally  Thai Airways Extends Suspension of International Flights  Air France to Resume Select Flights  Etihad Holidays Partners dnata Travel Group in UK  IHG Expands Cleaning Protocols at Hotels Worldwide  Finnair Increases Cargo Capacity by Removing Seats from Two A330s  PG to Resume Flights to Chiang Mai, Lampang, Phuket and Sukhothai  Cathay Pacific and Cathay Dragon Carried Just 13,729 Passengers in April  Singapore Airlines Group's RPKs Down 99.6% in April  HKIA Handled 32,000 Pax and 9,445 Flight Movements in April  Smiths Detection Launches UVC Light Kits for Airport Security Checkpoints  Boeing's X-37B Autonomous Spaceplane Sets Off on 6th Mission  History of Conwy, North Wales - Interview with Councillor Bill Chapman  Qatar Airways to Resume Flights to Brisbane, Australia  Delta to Operate Passenger Flights to Frankfurt and London  MICE: New Zealand Limits Events to 100-People  Mike Delaney to Lead Boeing's Confident Travel Initiative  Delta to Retire Boeing 777s by Year-End  Air Astana Celebrates 18th Anniversary with Resumption of Domestic Flights  Emercom of Russia Takes Delivery of First Ansat Helicopter  Emirates Unveils Plan to Resume Flights to Nine Destinations  Hong Kong Int. Airport Makes it Compulsory to Wear a Mask  Korean Air Outlines Plan to Secure KRW 2.2 Trillion to Overcome COVID19  IATA Takes Pessimistic Look at Future of Air Travel  AirAsia Introduces Contactless Technology to Enhance Safety  WHO Launches Two COVID19-Related Mobile Apps  UK's Civil Aviation Authority Signs MOU with BoeingKevin Schmidt Re-Elected as Chairman of Security Manufacturers Coalition  Cebu Pacific's COVID19 Safety Measures  AirAsia Philippines Cancels All Domestic and Int. Flights Until 31 May  Changi Airport in Singapore to Close T4  American Airlines Expands International Cargo Schedule  Hahn Air Appoints EVP Research & Development  United Airlines Appoints Brett J. Hart as President  Finnair to Require All Passengers to Wear Masks  Luis Gallego to Succeed Willie Walsh as CEO of IAG  Hyatt and American Offer Holidays to NYC Health + Hospitals/Elmhurst Staff  Craig Smith to Become Marriott's Group President - International  UNWTO: 72% of Countries Have Closed Borders to International Tourism  Etihad to Launch Scheduled Flights Between Melbourne and London Heathrow  Resumption of International Air Travel Requires Global Approach  Qatar Airways Giving Away 100,000 Free Tickets to Frontline Healthcare Professionals  Bombardier Wins Delhi-Meerut Regional Rapid Transit System Contract  Saab Appoints New CFO and Deputy CEO  Boeing Uses Three Dreamlifters to Transport PPE from China to USA  International Visitor Arrivals Could Fall 60-80% in 2020  Thailand to Promote Domestic Tourism First  HD Videos and Interviews  Podcasts from HD Video Interviews  Travel Trade Shows in 2020 and 2021  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

See latest HD Video Interviews, Podcasts and other news regarding: Frasers, Residences, Suites.

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also receive the daily news service by WhatsApp, stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Advertising
Advertising
Copyright © 1997-2020 TravelNewsAsia.com