Market influenced pricing

This functionality adds competitor prices to the Infor EzRMS optimization. This allows Infor EzRMS to produce market influenced recommendations.

With this functionality Infor EzRMS can perform these actions:

  • Optimize the price positioning within the market.
  • Avoid loss of opportunities.
  • React quickly to price changes in the property competitive set.
  • Do all the above in an automated way.

To accomplish these objectives, the system analyzes competitors' data and identifies the correlation between price variations and demand within the competitive set. Infor EzRMS engines also identify the true competitors within the set for each bucket and day in the future. This is a smart functionality and it ignores scenarios in which a competitor applies an irrational price.

Market influenced pricing is an optional feature that can be enabled for properties with a subscription including the full Competitor Analysis module. For it to work, Infor EzRMS needs to receive a data feed from a rate shopping tool. Additionally, the user needs to fill in certain details about the competitors that are used by the functionality, such as reputation score or stars. Revenue managers can input this in the Competitor  screen.

Once the functionality is enabled, Infor EzRMS will provide pricing recommendations accounting for the competitors in the market. This will be visible throughout the system whenever the EzRMS recommendation is displayed. The price without the competitor impact can still be visualized in the Recommendations and Day Details screens. This can be done by clicking on the filter to access Change Parameters, adding the additional analysis named Market Indifferent Price and clicking Apply.

For each day in the future, the effect that the competitors have on the pricing of the property is calculated by the engines. This effect can range from high to none and can vary by day. This is displayed in Recommendations and Day Details screens with a colored line under the price of each competitor. Red indicates the highest impact and yellow indicates the lowest. A gray line is displayed for a property that has no impact or is closed for sale.