Revenue optimisation platform TakeUp has introduced Why This Rate, a new AI tool for independent hoteliers.
This innovation comes as a response to the industry’s demand for increased transparency in AI-driven revenue optimisation platforms.
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AI is revolutionising the hospitality industry, not only by increasing operational efficiencies and enhancing guest experiences in the hospitality industry, but also by enabling more dynamic pricing strategies.
These advancements have the potential to significantly boost net operating income. However, the complexity of AI and its “black box” effect – the lack of clarity on how decisions are made – has been a major hurdle for independent hoteliers.
Why This Rate tool aims to bridge this gap by providing users with a clear visual representation of the demand curve, illustrating the balance between price and occupancy.
It also offers real-time scenario modelling and straightforward narrative explanations for each pricing decision, removing technical jargon to ensure clarity.
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By GlobalDataThis tool aims to foster a better understanding of guest price sensitivity, which is crucial for making informed pricing decisions in line with current market conditions.
The tool is designed to enhance collaboration and trust between revenue managers and AI platforms by allowing hoteliers to test different pricing strategies and learn from the most current estimates of demand behaviour.
As market conditions evolve, the insights provided by Why This Rate will also update, with future enhancements planned to identify long-term trends in price sensitivity across various timeframes.
TakeUp co-founder and chief technology officer Chris McPherson said: “Why This Rate’ gives hoteliers what they’ve always deserved—transparency.
“It shows the thinking behind the price and what could’ve happened if they’d gone higher or lower. It’s about building trust, not hiding behind a black box.”
Earlier in the month, TakeUp expanded its reach by announcing its availability on Oracle Cloud Marketplace.
The platform is compatible with Oracle Cloud Infrastructure and can be integrated with Opera Cloud through the Oracle Hospitality Integration Platform.
