Staff at holiday parks, campsites and holiday rentals now have increasingly more advanced reservation and property management at their disposal that help them process and streamline operations and management.
However, most of the decisions they need to take regarding pricing, booking, or recommendations are still based on their own insights. Maxxton, the enterprise platform for accommodation providers, has been developing data-driven features to support staff in making these decisions.
By integrating a data science team within its core development group, Maxxton is laying the groundwork for business intelligence insights and machine learning. They are also creating intelligent features based on customer needs and insights from various industries.
One notable advancement is dynamic pricing, already utilized in sectors like airlines, rental companies, and retail. This model allows businesses to adjust prices based on customer demand and market conditions. For example, during high-demand periods, prices may increase, while discounts might be offered during slower times to encourage bookings.
By adopting dynamic pricing, companies can enhance revenue compared to fixed pricing models. Maxxton has implemented AI-driven dynamic pricing to determine the optimal rates for different types of accommodation. Its tool forecasts future demand based on actual bookings.
This demand forecasting, combined with a price elasticity engine that measures how sensitive demand is to price changes, helps identify the best pricing strategy—whether the goal is to maximize occupancy or increase revenue. Rates are then automatically updated based on these insights.
The results have been impressive, with RevPAR and ADR both rising by over 11%. But Maxxton is doing so much more with smart features, it automatically reallocates accommodation units to maximise occupancy, driving more bookings while increasing the proportion of preferred reservations.
Additionally, it recommends add-ons based on stay dates, travel party, and accommodation type. Maxxton’s platform has always aimed to enhance staff collaboration. Now, with the integration of advanced intelligence, it empowers both staff and management to make more informed decisions.
Maxxton
020 4578 1490
www.maxxton.com