Joining us in our Partner Showcase series is Pace Revenue, the all-in-one revenue platform of choice for the most innovative brands in the travel industry. We chatted to the team to find out what sets Pace apart, the services they offer and how those services can boost your revenue-generating potential with automated tools that work in real-time.
Tell us more about Pace
Pace is the new leader in revenue management technology; our award-winning revenue platform features a high-frequency pricing engine that has a demonstrable advantage in forecasting accuracy, unparalleled and customisable business intelligence and allows you full strategic control through an intuitive app.
What services do you provide for hospitality operators?
Pace Pricing continuously adapts your pricing strategies to maximise your revenues. Real-time, automated, price optimisation. Pace takes automated pricing decisions for its customers 24 hours a day, 7 days a week.
Adaptive strategies - for every night
Pace adapts its pricing strategy for every night based on past performance and real-time pick-up. This way, it uniquely tailors its strategy to each night to maximise revenue.
Automated and continuous pricing
Pace was built with automation in mind. This means that Pace will always update the price when necessary and continuously explore the market's willingness to pay.
Understand your pricing
Pace enables you to drill into every price update and every booking. There's full transparency on how your business is performing and how the Pace Pricing system is making its decisions.
What sets Pace apart?
- Easy to use - the Pace platform is designed to be intuitive to accommodate a range of different users. We understand that not all properties are experienced with revenue management, so we built a tool that is simple and user-friendly, with an intuitive dashboard that allows any user to manage their pricing independently and without the need for a manual.
- Rapid implementation - with Pace, you can get up and running in minutes not months. Our two-way integration with RMS Cloud along with our algorithmic focus on primary data rather than historical data means you can switch on Pace’s dynamic pricing in any property immediately.
- Handles complex inventory mix - Pace is the market-leading Revenue Platform for hybrids. Six out of the top 10 hybrid brands in the world have already chosen Pace for its unique multi-product and hybrid-native optimisation and insights. Unlike most other revenue management systems, Pace allows you to easily handle a complex inventory mix; from room types to stays, Pace allows you to flex around your property needs.
How can RMS Cloud customers benefit from integrating with Pace?
Our pricing is based on our industry-leading algorithm and machine learning which will transform your revenue - from ADR to occupancy to RevPar. With automation, you can focus on what’s important instead of wasting time changing prices/generating reports and grow your business with fewer resources.
There’s a lot more to revenue management than pricing. For hoteliers, the opportunities lie in business mix, ancillary revenue, lifetime value and plenty more beyond pricing. We get that. It’s one of the reasons why we are the platform of choice for some of the top brands in the world.
RMS clients can also benefit from the first native business intelligence platform for hospitality - Pace Analytics. Unlocking the value of data is a challenge for revenue teams, but Pace Analytics makes this easy with its modern interface and transactional level data. We enable you to analyse your data in your way.
Check out our case study with Saltwater Hotels & Resorts, a mutual client who reported that "the two-way integration with RMS Cloud meant that we could switch things on immediately and the rollout was smooth.”
What do your customers love about Pace?
"We've seen a $30 growth in our ADR since implementing Pace...our rates are now managed automatically, on an hourly basis and 365 days in advance."
ALH Group (Australia)
"We’ve seen some big revenue improvements since switching to Pace - some of our hotels have seen an average increase of 14% in ADR and 20% in room revenue."
Machefert Group (France)
"Despite all the challenges of COVID and historically low occupancy, Pace has really outperformed. We saw a 27.4% increase in our RGI in August 2020 versus 2019.”
a&o Hostels and Hotels (Europe)
What can Pace customers expect from you in the near future?
First, we solved the price optimisation problem in our industry with Pace Pricing. Next, we need to confront the business mix optimisation issue that is endemic in revenue management. We’ve started rolling out our new Restrictions Management feature to users, where Pace will suggest when to close out corporate rates and maximise revenue from your transient business.
Easy and quick
It only takes a few clicks to get started with restrictions. Configure them once and then manage them by exception.
Increase your ADR
Contracted business can hamstring your ADR performance if not managed effectively. Pace can suggest when to constrain contracted business and leverage higher public rates.
Need to make quick changes to your restriction configuration? Changes are populated to your PMS in seconds enabling you to actively control your strategy.
Pace is offering RMS clients an exclusive deal to use its revenue platform for free until your occupancy hits 50%. Find out more about getting started.