Saudi upscale hotel experiences 25% revenue growth with RateTiger
Executives Hotel Olaya shows strong signs of recovery through intelligent distribution mix
Executives Hotel Olaya has been experiencing a good recovery in times of Covid-19, given its strategic online distribution mix and technology alliance with RateTiger.
The Riyadh based four-star property has been using RateTiger Product Suite to manage its online distribution since 2018 and has experienced almost 25% growth in revenue since then. Moving away from manual updating of online channels has made life easy for the team. With real-time ARI updates, it helped the team to apply dynamic rate strategies swiftly which led to better conversions and revenue.
Further, during the pandemic, the team found RateTiger even more beneficial as they could clearly identify channels that were generating bookings, which helped them bounce back and improve revenue effectively.
Centrally located in the business and shopping district of Riyadh, Executives Hotel Olaya caters primarily to business travelers. Even when Saudi Arabia was under lockdown during the initial months of the pandemic, the hotel witnessed an increase in advanced booking compared to pre-pandemic level. The revenue management team has been leveraging RateTigers seamless connectivity with over 400 OTAs, metasearch and GDS channels to optimize their distribution mix.
The extreme competition within the Riyadh hotel landscape means we always needs to stay up-to-date. Due to Covid-19 pandemic, demand dropped significantly with international travel coming to a stand-still. However, even then we experienced 3% - 5% increase in revenue compared to pre-pandemic level. Our occupancy started improving from July, driven by domestic demand from key regional channels, thanks to RateTigers wide connectivity, said Hamada El Shahat, Operation Manager, Executives Hotel Olaya.
Over the last few months, the Saudi hotel industry has grown significantly driven by strong demand for leisure and religious travel. Even though Executives Hotel Olayas online booking primarily comes through OTAs, the property has been focusing on expanding direct bookings to improve profitability. In 2019, they upgraded their internet booking engine through RateTiger and implemented BookOnlineNow.
Hamada further stated, Our direct business used to be only 1% - 2% of total bookings, through direct walk-ins. This changed last year when we implemented the booking engine. We currently receive almost 7% of all bookings through our website, which is huge in terms of revenue. Even during the pandemic, we have received bookings through our website. This is a substantial improvement and we are really very happy. Further RateTiger offers round the clock support and guidance which makes this partnership very valuable for us.
eRevMax is known for its stable solutions with 99% product uptime. The company offers excellent connectivity with over 400 online channels and provides 24x7 support.
About eRevMax: eRevMax is a travel technology company that assists hotels through channel management, rate intelligence and connectivity solutions. The company connects multiple online channels to the hotels PMSs to seamlessly deliver ARI updates and reservations. eRevMax is known for its stable solutions with 99.9% product uptime and provides 24x7 customer support. It works closely with around 400 channel and technology partners assisting over 9000 hotels worldwide to increase revenue opportunities and streamline business processes. It is the connectivity partner of choice for large hotel groups, mid-scale chains as well as independent properties in both luxury and budget segment worldwide providing solutions through its core product brands - RateTiger, LiveOS and AgentX101. For more details, please visit http://www.erevmax.com/ or contact us on firstname.lastname@example.org