Using Trio in Hotel Distribution
Trio is a monitoring and analytics platform that delivers a variety of dashboards, reports and alerts giving real time insights that help online travel companies in their daily operations. Here are some examples of where our customers are applying their insights.
Differentiating Distribution Channels
Hotel wholesalers, bed banks and other intermediaries routinely use a variety of channels to distribute their inventory. Inventory is sourced directly from hotels or other accommodation providers and held according to contracts. It is then distributed in line with demand to online travel agencies, tour operators or even other wholesalers. Insight is needed to ensure distribution is as profitable as possible by differentiating those channels according to their contributions.
The Trio platform gives inventory and distribution managers an overview of the performance of each channel and the ability to drill down deeper. The look-to-book ratios of channel partners and the underlying factors can be analysed in detail. Understanding the changing dynamics of your channel partners and be able to differentiate between the individual partners is essential.
This means getting timely and relevant data on what each channel is able to deliver to your operation and which ones deliver the best return. Knowing who is loading your systems with high volume searches but poor bookings empowers you to manage the channel relationship to achieve optimum result
Improving your Revenue with Best Pricing
Improving yield and revenue management involves controlling inventory to sell it to the right customer at the right time for the right price. With Triometric you can introduce real-time search data into the decision making process. Search data reflects the current demand for products that is independent of price and allows conversion rates to be considered as a significant factor in price setting.
Revenue Managers have to rely on recent booking information, historical data and general market trends to make pricing and inventory allocation decisions. Booking data is inevitably coloured by recent pricing history. Getting the right price and achieving optimal levels of allocation remains a challenge when a room has a definite sell by date.
The Trio analytics platform looks at search data in the context of demand for available travel products. Demand and conversion rates are considered as a significant factor in price setting. The ability to accurately assess demand volumes and differentiate between agents or channels allows better allocation decisions to be made.
Knowing that the last item was sold for the best price now becomes much more achievable. Incorporating search data into a dynamic pricing strategy is equally feasible. Web Services Analyzer’s real-time alerting allows booking levels to be automatically monitored so weak pricing decision assumptions can be quickly identified and addressed. Below are examples of just some of the charts that can be used to review yield management. Other reports and chart types can easily be customised.
Managing the Performance of Your Suppliers
Travel companies that use a mix of directly contracted and third party suppliers need visibility into their supplier’s product availability levels, operational performance and overall contribution to revenue generation. The Trio analytics platform delivers this insight and helps you manage your supplier relationships. Using supply-to-demand dashboards, reports and alerts provide a range of valuable real-time insights into operational areas sucha as:
- Inventory gaps in supplier product
- No Rate Availability charts help identify which brands and/or individual products are not being sourced for requested dates
- Errors and other causes of non-supply can be quickly identified
- Key operational metrics that help monitor performance in real-time
- System alerts give timely awareness of any operational issues
- Fast diagnostics help to resolve issues and to restore revenue streams
Using Trio puts online travel companies in a much better position to identify under performing suppliers as well as the very responsive ones.