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 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
“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.
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.
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