Brand Karma in partnership with IDeaS Revenue Solutions has launched IDeaS Reputation Pricing module, which enables hotels to make reputation-aware pricing decisions by factoring in social media sentiment data.
The data comes from Brand Karma iO, the social business intelligence tool that analyzes a hotel’s online reputation against its competitors. Using this data, the IDeaS Reputation Pricing module recommends a Best Available Rate (BAR) by considering a hotel’s online reputation against its competitors.
Siv Forlie, vice president of corporate revenue management of Shangri-La Hotels and Resorts, which participated in the charter program of the IDeaS Reputation Pricing module, said it would “enable us to look at sentiments and reputation data in combination with rates and performance, which is very exciting”.
“We are already seeing interesting correlations, and we look forward to further developing measurements in this area to learn more about how reputation can possibly impact pricing.”
CEO and co-founder of Brand Karma Morris Sim, said social reputation conversation had moved from “monitoring to monetisation”.
“Connecting a hotel’s pricing decisions with its online reputation is an important part of this shift, and it’s now a reality,” he asserted.
The IDeaS Reputation Pricing module will be available in an upcoming release of IDeaS RMS this month.
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