26th November 2019, Bangalore: To fulfill the growing need of automation & AI in the hospitality industry, experienced hospitality professional Mr Siddharth Goenka, MD of Octave Hotels, launched a B2B startup Aiosell Technologies. As the Managing Director of Octave Hotels, Siddharth while running his chain of hotels in Bangalore saw an automation gap in the revenue management process for hotels. While he was searching for a next generation rate intelligence and automated dynamic pricing product for his own hotels, he realized that such a product didn’t exist in the market, which led him to leverage his prior software engineering background, along with hospitality and marketing expertise to launch Aiosell.
Aiosell is a unique B2B product that uses Artificial Intelligence & Machine Learning to do dynamic pricing and revenue optimization for hotels, resulting in improved occupancy and higher ADRs (Average Daily Rate) for hotels, and reduction of operational costs and overheads. The system uses several internal & external factors to determine rates real-time (occupancy, demand, lead-time, competition, seasonality, weekday, time of booking, etc), which uses automation and AI to connect to all online distribution channels and result in maximizing revenues and occupancy.
Speaking at the launch, Mr Siddharth Goenka, Founder & CEO of Aiosell Technologies said, “Wetruly believe that Aiosell and its vision has the potential to transform the industry and will be a great help to all accommodation providers (hotels, apartments, home-stays) around the world. We are consumer of our own product, because Aiosell was conceived and designed for Octave Hotels, and all new ideas and products are first experimented and tested at our own hotels, before they are taken to Aiosell’s customers. This increases the success percentage and ensures that any redundant features are kept to a bare minimum.”
Most traditional revenue management systems uses past data ONLY to give pricing decisions, but Aiosell technology uses current contextual parameters to adjust the price recommendations. It is the biggest USP of Aiosell.
Aiosell integrates with several PMS (Property Management Systems) and Channel Managers across the world to offer a fully automated, all-in-one hotel technology solution that can increase business for hotels. The system gets real-time inventory status from the hotel PMS, uses its expert algorithms to decide real-time rates, and pushes them to online channels and OTAs. Moreover, it receives bookings real-time from these OTAs and pushes them back to the hotels, thereby creating a complete automation cycle that boosts the hotel’s productivity and reduce its operational and marketing costs. Aiosell provides a direct booking channel (Booking engine) on behalf of hotels that can reduce the hotels’ distribution and commission costs.
Aiosell is a bootstrapped / profitable startup which can boast of several reputed hotels and chains as its clients including Fern Hotels, Sun n Sand Group, Summit Hotels, Leisure Hotels, Panchavati Group,etc. Countries that have Aiosell’s clients include: India, Thailand, Malaysia, Philippines, Singapore, Russia, Czech Republic, Belarus, UAE, Kenya, UK, Norway, USA.