The hospitality industry is one of the most highly affected industries post covid crisis, and the industry is scarred permanently. A lot of business travel seems to have evaporated permanently, and leisure travel is concentrated around urban centers with large populations. How then, can this industry hope to survive and pull itself out of the mess?
Founded in June 2019, Aiosell aims to automate and digitalize the hospitality industry, hoping to reduce costs and maximize efficiency. Aiosell is a unique technology that uses Machine Learning and Artificial Intelligence to do revenue optimization for hotels, along with automating all areas of Hotel Management & Marketing into one integrated system. This unique B2B product uses dynamic pricing to determine the best rates to sell a hotel room, keeping in mind all real-time factors (competition, occupancy, seasonality, lead-time, demand, time of booking, etc). The system combines Property Management, Revenue Management, Marketing Distribution, along with a Website & Booking Engine with smart analytics into one consolidated system to make a unique offering so that hotels can get more from less.
Founder & CEO, Siddharth Goenka runs a chain of 12 hotels in Bangalore by Octave Hotels, and while learning and growing his hotel business, he was searching for an intelligent product that could help him optimize rates for hotels, automate tasks, reduce overheads and maximize revenue. To his surprise, no such quality product existed in the market. It is then that the idea of Aiosell struck him. He teamed up with the ex Revenue Manager of ITC Hotels, Smriti Singh to conceive, design, and develop an ideal solution that could be an All In One Hotel Management System for the industry with Dynamic Pricing and Automated Revenue Management as its core USP.
The business idea of Aiosell was completely serendipitous, as Siddharth was only trying to grow his hotels at that time. But he realized that the need for such a product was so immense in this industry, that he was compelled to dig into his past experience as Software Engineer in Microsoft to come up with a product that could change the landscape of the industry.
A Revolutionary Product for Hotels
Today, Aiosell serves 200 hotels in over 100 cities and covers all categories – 5 stars, 3 stars, 1 star, and independent home stays. The company has several big names in the industry as their clients including Sun n Sand Group, Fern Hotels, Leisure Hotels, Summit Hotels, Panchavati Group, etc. The product is also used internationally in many countries like Thailand, Singapore, Malaysia, Dubai, the Philippines, Russia, Kenya, Norway, UK, Czech Republic, and the USA.
Hotel rooms are a perishable commodity that needs to be sold at the right time, to the right customer, and at the right place – just like movie tickets. Revenue Management is one of the most important aspects of Hotel Marketing that separates success from failure, and Aiosell’s unique system gives hotels across the world this edge to succeed. Consumer behavior has changed drastically in today’s world when hotel customers book rooms last minute by comparing the prices of hotels online. This ensures that hotels have very little time to react to changing demand patterns in real-time and need to ensure they can strike a balance between maximizing occupancy and rates. Most traditional systems require a lot of manual intervention to make pricing decisions, but Aiosell is one of the few systems in the world that uses real-time contextual parameters to automate this entire process completely.
The Journey Ahead
Siddharth and his team truly believe that Aiosell and their vision has the potential to transform the hotel industry and help accommodation providers (hotels, apartments, home-stays) around the world realize their full potential by using the power of technology and automation. Their goal is to target 500 properties in one year and 2000 properties in 3 years.
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