Cloudbeds aims to connect all aspects of hotel operations using artificial intelligence.
The company has launched a “smart hospitality engine” called Cloudbeds Intelligence. It uses causal, multimodal AI to uncover insights, predictions, and recommendations for hoteliers.
Causal AI understands the cause-and-effect relationship of various factors in hotel operations, and multimodal AI integrates rich data such as images, videos, and text to generate more information for selling rooms and other services. provide information to staff.
Cloudbeds Intelligence analyzes billions of data points on future demand signals such as events, competitor rates, holidays, search information and more, and uses them to create property-specific He said it was combined with data from
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Harris said hoteliers can currently do this, but it’s a very “hard way” because of the silos that exist, but being able to integrate data can help properties become more He said there could be many revenue opportunities.
“We’re trying to uncover the cause and effect within the hotel. The cause is, is there a pricing opportunity, is there a demand opportunity? The result is, how can we maximize revenue? ” he said.
“To do that, you need to have all the information. You need to understand what’s going on in the market. You need to understand what’s happening on your property. How many staff members do you have? You need to understand whether you have a lot of repeat guests or first-time visitors. Also, the AI engine looks at photos and descriptions of your hotel rooms, matches them, and makes calculations. Knowing whether a room will sell more or less can help property owners predict revenue growth.”
He believes hotels can benefit from a number of “tweaks” that can increase occupancy and drive revenue, rather than relying solely on the 10 or so big events held each year in a region or city. are. He also believes that the industry, which has traditionally been slow to invest in new technology, is ready for this.
“I think hotels have been asking for this since the coronavirus,” he said.
“They have been looking for ways to make decisions more efficiently. Should I look at it? That’s not going to change.”
The technology aims to enable a unified commercial strategy for hoteliers by integrating insights from distribution and marketing, guest experience and operations.
For example, if a hotel knows it’s about to experience a downturn in demand, the technology can recommend actions that include lowering rates combined with targeted email campaigns.
“What Cloudbeds Intelligence does goes far beyond traditional predictions. It helps us choose the best combination of strategies to increase real estate profitability,” said Amit Popat, Head of Machine Learning at Cloudbeds. states.
“Whether it’s mitigating cancellations with predictive marketing recommendations or personalizing the guest experience with customized upsell recommendations, our powerful platform helps hoteliers take the best actions to meet their needs. We will help you get it.
their goals. This level of decision intelligence has never been available before. ”
The company claims that Cloudbeds Intelligence eliminates silos and improves uptime by 10% and RevPAR by 15%.
Going forward, Harris hopes partners like IDeaS and SiteMinder will add their data to the prediction engine. He also said it will be expanded to help hotels make decisions on additional areas such as cleaning needs and daily staffing levels.
