Hotelmize: Implementing AI to Create Significant Value to the Travel Industry

Omry Litvak, COO
Team Hotelmize

The travel industry is relying on technology to allow travellers to move steadily along their trail of journey. People are therefore unanimously enthusiastic in adapting to the technological changes occurring in the travel industry. Emerging technologies such as AI has been extensively integrated in order to collect data from the users and place the content rightly for the future travels. With a special focus in maximizing revenue for the industries centred on hotel booking and travel, Hotelmize uses AI features to predict the best practice in hotel and travel reservations. Hotelmize has incorporated smart, unique, and highly efficient technologies that provide service to hotel distributors, bed bank, wholesalers and travel agents to increase their profitability and raise their business standards.

Maximizing Profit using Efficient Algorithms
One of the easiest and most visible ways that individuals, travel agencies, and the entire travel industry have been benefited with AI, is through dynamic pricing. Hotelmize evaluates booking prices using predictive analytics and also identifies extra profit opportunities for the clients, using efficient algorithm. Often, travel agencies are compelled to reduce their margin in order to
stay competitive. Hotelmize addresses this challenge through its state-of-the-art price prediction model, which improves purchasing techniques and increases reseller's profit. Big data analytics and price prediction algorithms are used for designing an automated profit optimization service in order to cater to OTAs and Tour Operators. Besides, the company presents a fully automated solution that orchestrates in the background of a normal workflow, and is compatible with standard APIs. "Since travel industry is a competitive domain, they need to squeeze the margin in order to stay in the race. When you squeeze the margin more and more, you have to find new creative sources of revenue. We are building top of the art technology to open a new way to create revenue for businesses" says Omry Litvak, COO, Hotelmize. Hotelmize's automated system can adapt to enormous measures of information using AI's algorithm that can predict the ideal time to rebook the reservation.

Hotelmize's automated system can adapt to enormous measures of information using AI's algorithm that can predict the ideal time to rebook the reservation

The hotel booking industry being one of the most competitive in the world, stays at pace with the advanced bigdata based revenue management technologies. Few months ago, Hotelmize completed its USD 3.8 million funding round so as to continue with the massive growth worldwide. As a travel tech company, Hotelmize works on technological advancements that bring considerable developments for the travel industry. The company offers an intelligent system that generates profit for its clients and keeps industries in elevating business. Being one of the only companies that help in generating revenue based on prediction algorithm, Hotelmize envisages becoming a one stop shop for converting actions into profit for the travel industry. The company responds uniquely to this well known, unparalleled and rare market opportunity by leveraging innovative technologies and proprietary algorithm.