UpStay, a post-booking performance optimization platform for hotels, has won the award for the most innovative solution according to the audience at the PhocusWright Conference after demonstrating the importance of improving customer service at certain points in the process.
The award recognizes this platform as one of the most innovative available to the travel hotel industry today. UpStay, which was participating in the event for the first time, was selected by the international panel of judges for the PhocusWright Innovation Launch.
The platform helps hoteliers earn new revenue while improving communication with guests. This was explained by Maína Pietrobelli, UpStay's Vice President of Commercial Development, during her presentation at the event.
In her words, hoteliers have traditionally focused their attention on distribution and occupancy levels. However, they have missed opportunities to generate new income during the post-booking stage. That is where knowing how to take advantage of this opportunity to improve the service and business model comes into play.
A help to sell more premium rooms
“At UpStay, we empower hotels to effortlessly unlock new revenue streams. With just a smart pre-arrival email, UpStay increases profitability by up to 25 percent," Pietrobelli said.
Its innovative Bid-For-Upgrade system offers guests the possibility to bid for a superior room at a better price before their arrival. Additionally, the innovative solution automatically updates winning bids to match the hotel's unsold premium inventory shortly before check-in.
The main advantage of UpStay is that it allows the guest to control how much extra money they are willing to pay to upgrade their accommodation. It achieves this thanks to its technology, which is five times more successful than other upselling solutions, since it uses big data and a state-of-the-art algorithm that analyzes the hotel's inventory in real time and the available demand for each premium room.
Betting on the complementary services of the hotel
In addition to room upgrades, UpStay also sends targeted, personalized offers to selected segments of guests before and during their stay. This includes smart offers to access other complementary services in the hotel itself.
According to PhocusWright, almost two-thirds of guests would like to purchase additional services and products, such as: in-room dining and other prepaid meals, parking, early check-in or late check-out, in-room entertainment or leisure services. , spa and golf, among others.
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However, the same study reveals that very few hotels systematically offer complementary services and products to their guests.
At a time when hoteliers need to maximize all revenue opportunities, UpStay's solution works automatically, sending offers directly to guests throughout the duration of their stay and before it begins.
“The UpStay platform uses artificial intelligence algorithms to analyze the hotel in real time and continuously. Thus, it matches the right products with the right guests, increasing margins and also improving the guest experience”, explained Pietrobelli.
Additionally, UpStay's VP of Business Development added that this dynamic approach results in much higher conversion rates than a static rule-based upsell tool could achieve.
One such example is the Myconian Collection of hotels and resorts, located on the Greek island of Mykonos. There, using UpStay's solution generated an additional $220,000 in automated annual revenue, averaging an additional $660 per guest.
With a presence in 30 countries and rapid international growth
Although UpStay was founded in 2019, it has been growing rapidly and already has offices in five countries (Israel, Greece, Italy, Mexico, Brazil). In addition, the company is expanding rapidly to capture the market with a new office in New York and one soon on the West Coast of the United States.
It currently services more than 120 hotel brands in 30 countries. The company confirms that it increases an average of 5% of the overall revenue per booking for its clients, which translates into a profit increase of 10 to 25 percent.
UpStay easily integrates with over 20 property management systems, channel managers, and reservation systems, and takes just a few hours to set up. After its installation, the software starts optimizing unsold inventory automatically. All this without the hotel staff having to intervene.
With no upfront costs, it offers a risk-free business model. In fact, you only take a part of the additional income generated by your platform.
A recognized award at the PhocusWright Conference
During the 2021 PhocusWright Conference, UpStay stood out for offering "an excellent solution" at a crucial time for the hotel industry, which is in the midst of a recovery period caused by the pandemic. In addition, he was one of only three winners selected from the total of 17 finalists who showed up at the event.
Mike Coletta, Research and Innovation Manager at PhocusWright, said, "As the world tries to fully reopen from the pandemic, creative solutions are needed more than ever to help travel businesses optimize revenue, automate processes, put more money in the pockets of workers and better help travelers buy and book their trips.”
The PhocusWright Conference has been running for 25 years and is recognized as the premier showcase for new ideas in the global travel industry. Thanks to her, we now know that innovation for the hotel sector can focus on the post-booking phase.
Courtesy Images: UpStay, Cory Bjork on Unsplash