iRates
Computer Software - San Antonio, Texas, United States
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iRates Details
iRates' mission is to assist hoteliers in achieving highest possible yield from operations through synthesis of human expertise and new-generation computer intelligence, using revolutionary mathematic methods that provide in-depth understanding of hotels' unique nature, efficient information about demand levels and market conditions, and adapting this knowledge to each specific property.iRates software develops most suitable Revenue Management strategy for the property and proposes updates for room rates and other relevant parameters.Main competitive advantage of our product is its innovative state-of-the-art algorithm that allows for re-evaluation of demand levels and adaptive changes between them. iRates is the first computer system that provides a synthesis of managers' expertise, efficient information about demand level and market conditions (human intelligence) and neoteric mathematic methods of Reinforcement Learning (computer intelligence). iRates sets the most optimal price for every day in the future, finding a perfect balance between ADR and occupancy, thus not just maximizing revenue but the bottom line (profits), based on each property's financial structure. The system represents an ideal combination of most powerful algorithms and intuitive interface, comfortable for users with any level of experience, from a sales or front desk managers to advanced Revenue Management professionals.
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