Radiant1 Founder The CEO Apichai Sakulsureeyadej

Before The COVID-19 pandemic, hotelier Apichai Sakulsureeyadej He stepped in to assist his family in managing the hotel business. He also wanted to understand how data was not being used in the crucial decision-making process. Serial entrepreneur, who has spent the past two decades working in big data. Sakulsureeyadej Hotels, just like airlines, could earn more revenue by using dynamic pricing.

“A hotel’s core revenue source is room bookings. I experimented with the use of multiple data sets to influence room pricing. This led to a visible uplift in the business’s revenue,” He shares.

That Radiant1 was his motivation to launch Radiant1.

Also Read: Radiant1 raises funding for its AI solution that helps hotels maximise revenue

Incorporated You can also find out more about the following: Singapore Radiant1 is a SaaS powered by AI that helps hotels maximise revenue. The The tool uses machine-learning algorithms to analyze factors such as real-time demand and types of properties. It also analyses travel behavior to maximise the total revenue. It Multi-dimensional analysis of both internal and external data.

“Many factors influence the hotel industry, such as seasons, events, holidays, economy, etc. Radiant1 automates the ability to understand how each factor affects demand. As a result, it can decide which combinations would be most effective to determine the right price,&#8221He also adds.

Estimates Show that the Asian Hotel transactions are worth nearly US$200 Billion annually. On Without revenue management, the average hotel loses more than 30% of its potential.

“Nearly 90 per cent of hotels in Southeast Asia don’t use any form of revenue management. They believe in having basic operational technology, such as reservation/check-in management, and working with online distribution. They have generally not yet digitised their operation, unlike the airlines,&#8221He is revealing.

“On the other hand, chain-managed hotels in the West widely use revenue management, yielding higher revenues. Radiant1 believes that every hotel should have revenue management as a mandatory tool,&#8221He makes a comment.

According The following are some of the ways to get in touch with us: Sakulsureeyadej, Radiant1’s USP lies in its ability to synthesise multiple datasets and turn those into actionable recommendations and automated action to set pricing and recommend the channels for sales of room nights. This Helps automate the way hotels are priced, distributed and distributed.

The startup has introduced a flexible pricing scheme with monthly fixed fees and variable charging models based on the customer’s needs.

The The company claims to have helped all types of property maximise their revenue while maintaining a close eye on the bottom line. Its Customers include independent and boutique hotels, global chains, hotel management companies and short-stay operators.

PostRadiant1 says that it has seen a robust growth since the mid-2022 period, which coincides with the widespread opening of borders. In Add to its presence ThailandIt expanded its footprint to Malaysia The following are some examples of how to get started: Indonesia.

The Startup recently raised Unknown sums in a Pre-Series The round anchor is anchored by Monkʼs Hill Ventures Expand into new markets to expand on existing markets Asian Expand the product range and hire more tech resources.

Also Read: How can you build a living, thriving community around your SaaS product?

“We plan to further penetrate into our existing markets, such as Indonesia, Malaysia, and Thailand, by growing the sales team and growing the cities we target in each country,&#8221He also adds.

Radiant1 also began experimenting with Generative AI can hyper-personalise the customer experience. “We strongly believe that a much deeper understanding of customer behaviour to build personalised offerings can lead to higher revenues. It is equally important to understand demand. Often, they go hand in hand. Radiant1 is on a mission to build technology that obtains and uses these relevant data to optimise different parts of the hotel, eventually leading to better revenue,&#8221He notes.

While Generative He believes that AI is the way of the future. Generative AI must be regulated according to ethical standards. “We need to adhere to the guidelines of the Personal Data Protection Act. It is a good start while combining it with a more comprehensive approach.”

Image Credit: Radiant1.

This First published on November 20, 2023

The Post by How Radiant1 helps hotels optimise room rate pricing in real time, maximise revenue The first time that appeared on e27.

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