CASE STUDY / HOSPITALITY
Softtek creates a powerful occupancy forecasting model that maximizes profit.
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Fast growing hotel operator develops, owns and operates premium brand hotel properties nation wide.
One of North America's largest hotel management companies.
20 different brands within the leading hotel franchise systems.
Over 35 years of experience in hospitality.
The Large Hotel Operator saw the need to improve revenue and profitability. Highly manual processes and a lack of visibility into properties across 20 brands prevented effective revenue management and occupancy forecasting, and resulted in reporting errors. To solve the problem, they would need to integrate all information and heavily rely on automation and AI.
Inaccurate occupancy forecasting affected revenue and margin.
Lack of visibility into individual hotel expenses.
Lean IT resources prompting automated solution approach.
Complex IT operation with 20 brands on different platforms.
Inconsistent and inaccurate reporting due to manual processes.
Softtek built a cloud-based forecasting and budget management solution to provide visibility across multiple brands and properties, advanced analytics and occupancy estimates at the hotel level. With integrated data, Softtek implemented a new forecasting model using deep neural networks and advanced machine learning techniques. This new model, now in its fourth iteration, has now become a cornerstone to drive occupancy, revenue and profits.
Implemented an AI cloud-based forecasting and budget management solution.
Designed a system providing insights and allowing executives to analyze user needs.
Created a new forecasting model significantly improving precision.
Increase in forecast accuracy over 30% resulting in increased occupancy andrevenue.
24/7 visibility into each hotel improving sales and budget management.
Improved accuracy and precision of business decisions.
Automated business processes allowing efficient management of daily business activities.
