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Where do my price suggestions come from?

This is how the price suggestions are made up.

Where do my price suggestions come from?

All price suggestions are developed by our machine learning algorithm. So what does machine learning mean?

In short, it means programming an algorithm in order to achieve its own learning effects as artificial intelligence from historical data, inputs and models and therefore also to be able to process new, unknown data.

What is the calculation based on:
→ Historical data: We use your own hotel data from the past so that the algorithm learns how to behave.

→ RevPar, sales, occupancy

→ The competitors (optional)

→ Seasonality

→ Booking speed - pick-up

Applied to our software at happyhotel, it means that a future trend (forecast) is predicted on the basis of the hotel booking curve to enable the generation of price suggestions. This ensures the best possible prices that different customer groups are willing to pay at different times in order to increase overall revenue.

In short, the happyhotel software learns by itself and becomes more and more accurate in its predictions over time and with more experience. The price suggestions can thus be optimally adapted to the booking situation and take away the time-consuming work of having to make your own manual calculations.