A Q&A with Stan van Roij, VP Hospitality Solutions about Infor’s new Pricing Op
Why is Infor bringing a new RM product to market?
Putting the right price at the right time on the hotel room and selling it on the right channels can be a daunting task. The marketplace is more dynamic than ever, requiring hoteliers to set, review, and adjust pricing almost on an ongoing basis. Throw the various data elements in the mix that one must review to make a pricing decision makes it a complex and time-consuming process.
At the same time, we have seen that many hoteliers have a need for an automated, scientific approach to pricing, without necessarily wanting to go to a full Revenue Management solution.
At Infor we want to help hoteliers maximize their profit and revenue. We created Infor HPO – Hospitality Price Optimizer – to help ensure the hotel always offers the right price, selling it through the right channels.
What else has changed over the years for hotels to make Infor HPO necessary?
“Pricing is part science and part art”. It’s a statement that has been made many times over the years. Science has made some leaps ahead with AI and deep machine learning methodologies, making reliance on the art side of that equation, or the “gutfeel”, less necessary. That has allowed us to create a very smart pricing tool that can help remove the uncertainty factor.
How does HPO help hotels?
HPO takes the doubt away whether pricing is accurately and competitively set and published in the right channels. HPO “just does it” and it’s always on, even when everyone’s asleep. A hotelier’s day can be pretty hectic. HPO allows them to take a hands-off approach while the solution manages intraday pricing adjustments. It’s smart, in that it learns dynamically. So, hoteliers know that pricing decisions are precise. User still have control, though. They can set it and forget it when they need to, examine options and run scenarios at their leisure, too. If users want to review and adjust the strategy, they can do so at their desk, or on the go, using the smart mobile app.
Who are the key users for this solution?
The beauty of it is that Infor HPO can help anyone who has a need for sophisticated automatic pricing, be it a one- or five-star property. It’s designed in such way that anyone can use it, without going through extensive training. The solution’s UI is designed to welcome the user and make it easy for them to figure things out in a short period of time.
How does this pricing solution sit among your other products?
As mentioned before, this is a solution for those who are in a need of an automated pricing solution and as such it sits next to our Infor EzRMS product which fills the needs for those who require of a more holistic approach to revenue management. Infor HPO integrates with a range of PMS, CRS, CM, and rate and reputation providers.
What is your favourite part of Infor HPO?
The smartness of it all. In addition to the automation side of things, it actually explains why a price has been set or changed in a very clear and easy to understand manner. You could look at it as your own pricing buddy, always there and always got your best interested at its heart - I love it!
About Stan van Roij, CRME
20+ years of experience in the hotel revenue management sector, from hotel RM operations to hotel technologies vendor, means Stan has an extensive in-depth knowledge and expertise in this field.