Maximizing Profits in the Travel Industry with Hotel Mize Solutions

The speaker expresses gratitude for the audience's attendance, acknowledging the mid-week timing. The presentation aims to focus on how businesses can increase profits using Hotel Mice solutions, emphasizing a customer-centric approach.

The speaker, with 15 years of experience at WB Travel, highlights the company's decision to partner with Hotel Mice due to its market-leading AI technology. WB Travel, headquartered in Bucharest with a sales office in Las Vegas, prioritizes customer safety and experience.

Hotel Mice solutions benefit various travel businesses, including niche markets like LGBTQ, pet-friendly, elderly, wholesale, and DMC companies. The speaker emphasizes that any travel business can increase profits significantly without altering existing operations.

The speaker underscores the profitability of partnering with Hotel Mice, citing potential earnings of tens of thousands of Euros annually with high profit margins. Emphasis is placed on the ease of integration and the ability to leverage existing bookings for increased revenue.

Two key aspects highlighted are the ability to book both net rates and commissionable rates, providing flexibility for suppliers and partners. Additionally, Hotel Mice now acts as a supplier, offering partners increased margins and the option to rebook through their marketplace.

WB will be one of the first suppliers promoting WB DMC customers to become suppliers in the hotel mice Marketplace. This allows access to cheaper rates, direct connectivity with hotel suppliers worldwide, and increased profitability for all parties involved.

Hotel Mice is a travel Tech fintech startup aiming to help travel companies maximize their revenue potential through advanced technologies and optimization solutions. It offers fully automated solutions with flexibility and transparency, serving over 100 companies from 35 countries with more than 15 technology providers.

Partnering with tech providers like WBE allows clients to onboard solutions seamlessly without the need for additional development. Clients can access services with a click of a button, unlocking hidden profits with zero investments. WBE has shown a strong commitment to partnering with Hotel Mice and adopting their solutions.

Mark Twills, the EMEA Senior Sales Director of Hotel Mice, will discuss current and future solutions. The main focus will be on the big data post-booking optimization product, which aims to provide added value to clients like WBE. A Q&A session will follow to address any questions or concerns from the audience.

Total Mice has developed a postbooking optimization solution for the travel industry, focusing on the stage after booking creation. They have been working with WWB for over a year and have numerous clients globally.

Total Mice is a leading solution provider for the travel industry, with over 100 clients in 30 countries, including OTAs, wholesalers, banks, DMCS, travel agencies, and hotel resellers. They have won awards for tech and innovation, and many top hotel booking companies worldwide are already using their services.

Total Mice identified a gap in the market where no one was focusing on postbooking optimization. They realized that room prices fluctuate significantly after booking creation, presenting an opportunity for optimization.

Total Mice's postbooking optimization involves monitoring bookings daily to find cheaper rates for the same room. They wait for the optimal time to rebook, generating additional profit for clients by canceling and rebooking at lower rates.

Total Mice has optimized over one billion in bookings, generating $127 million in extra profit for clients. They have optimized 1.52 million bookings with an average profit increase of 11.8% per rebooked booking.

Total Mice's success stems from their data-driven approach, utilizing algorithms for room mapping and matching. They have gathered extensive data from working with top travel companies globally, enabling them to optimize bookings effectively.

The algorithm helps in rebooking by mapping and matching rooms accurately. It ensures that even if the room has a different name, it recognizes it as the same room. The system can predict the cheapest price a room will get, allowing for strategic rebooking decisions.

The rate prediction algorithm forecasts the optimal time to rebook a room. For example, if a room was initially booked for $1000, but the system predicts it will drop to $600, it advises waiting for the lowest price before rebooking.

The system offers customizable filters for rebooking preferences. Users can set filters based on suppliers, contracts, or specific hotels to tailor the rebooking process according to their needs.

On average, the system generates an additional 11.8% margin for every rebooked booking, resulting in an extra $78 per booking. The system aims to rebook around 8.50% of refundable bookings, potentially increasing revenue by $6.3 for every booking.

The business model operates on a success-based approach, where Hotel Mice shares 50% of the extra revenue generated from rebookings with clients. Clients only pay for fulfilled bookings, ensuring a risk-free partnership.

The system highlights top 50 destinations for extra profit, including popular locations like Las Vegas, San Francisco, Phuket, and Munich. These destinations offer significant opportunities for increased revenue through strategic rebooking.

In the room mapping and matching process, up to 20 different data points are checked to ensure the same room is found at a cheaper rate. This includes details like room name, type, check-in day, checkout date, cancellation policy, and special remarks. The goal is to rebook only when 100% sure it's the exact same room. Additionally, asymmetrical room mapping may result in finding a better room at a cheaper rate, offering extra revenue and free upgrades to clients.

New b2c products have been developed in the past year, focusing on special refundable rates for customers. A new rate of $110 has been introduced, allowing refunds under specific circumstances like a family member passing away or an accident. Clients can claim a refund up to 60 days after checkout, providing added flexibility. The introduction of watch price protection for b2c sellers is also part of the new product lineup.

Hotel Mice will soon be available as a supplier on WB, offering some of the best rooms in the travel industry. This will provide options for rebooking purposes or as a standard supplier. The integration with WB is anticipated to happen shortly, expanding the range of choices for customers. The dashboard will offer insights into rebookings, extra revenue generated, and booking statuses for easy monitoring.

The speaker discusses the process of filtering all rebookings by check-in, rebooking date, or checkout to analyze the revenue generated. They suggest filtering data by month to get a better overview. For example, in May 2022, the net revenue for original bookings was 239,680 Euros, converted to 218,000 Euros, resulting in an extra revenue of over 20,000 Euros for that month.

The speaker presents detailed revenue analysis for a client, indicating a conversion of 3.63 million Euros to 3.40 million Euros for the whole year, generating 235,000 Euros in revenue. They emphasize the ability to filter data by week, month, or day to track revenue trends effectively.

The speaker explains the ability to access booking details individually, including original price, new cost, extra revenue, and booking status. Users can view information such as room types and XML logs for each booking, with the option to export data to CSV files for further analysis.

The speaker highlights the dedicated customer success team available to assist with integration, improve results, and address any concerns. They assure clients of error coverage and compensation in case of rebooking errors, emphasizing the reliability of algorithms and the extensive data validation process.

In response to common client concerns about rebooking risks, the speaker reassures that over 20 data points are checked to ensure accuracy. Despite minimal error rates, the company guarantees to cover any charges or compensate for any discrepancies, offering a safety net for clients, especially those handling large corporate bookings.

The company emphasizes becoming partners with customers, not just selling technology, and highlights a strong team for after-sales service. They prioritize customer satisfaction and are willing to cover any errors that may occur without prolonged arguments. The error rate is minimal, ensuring a smooth customer experience.

For WB clients, integration is already completed, requiring only the signing of an agreement and creating credentials to go live within three to four days. Non-WB clients can contact the company to discuss terms. The company is integrated with over 20 booking platforms globally, simplifying the process for most clients. Direct integration is needed for clients with their own booking platforms, but the company handles most of the integration work.

Once integration is finished, existing customers of WB or any platform using Hotel Mice can access benefits by contacting the company. A dedicated person manages networking, and after signing an agreement, clients can switch on Hotel Mice as a supplier for rebookings, similar to adding any other supplier. The process is streamlined and should not take long once integration is complete.

Switching on Hotel Mice for rebookings is as simple as activating any other supplier once integration is finalized. The process involves signing an agreement and coordinating with the company's networking team. Everything is managed through WB, ensuring a seamless transition for clients.

The discussion delves into the technology framework and security aspects of the solution. Specific details about the build and framework used, particularly from a security perspective, are sought to understand the robustness and reliability of the system. The focus is on ensuring a secure environment for users and maintaining high standards of data protection.

Hotel mice's technology infrastructure is backed by Microsoft Azure, a cloud-based platform supported by Google Chrome. All security measures are in place, with bookings and systems built on wb's topology. The system operates within the client's ecosystem, working only with their connected suppliers, ensuring data privacy and security.

Hotel mice's services are not limited to B2B clients but extend to any hotel reseller selling hotel rooms via XML with more than two suppliers. This includes OTAs, travel agencies, wholesalers, banks, and BMCs, broadening the scope of potential clients.

Hotel mice operates on a success-based model, where integration is cost-free, and revenue generated through the platform is shared with the client. The profit split is 50-50 for each booking optimization, with detailed invoicing and payment processes in place for transparency and accountability.

Hotel mice's rebooking process accommodates existing supplier incentives by allowing clients to direct bookings to specific suppliers. Clients can choose to optimize bookings with suppliers offering incentives or block certain suppliers from rebookings, ensuring alignment with business interests and sales targets.

Hotel mice provides flexibility in supplier management, allowing clients to move bookings between suppliers based on performance or business agreements. Clients can strategically shift bookings to meet sales targets, block underperforming suppliers, and control the rebooking process to optimize revenue and business relationships.

Hotel mice addresses client concerns about hotel rejections by leveraging existing data and insights to proactively manage rebookings. The platform's experience in the UAE region enables effective control over rejections, ensuring smooth operations and maximizing booking success rates.

Hotel mice system prevents rebookings or penalties for companies switching bookings by monitoring remarks and extra info sections. Immediate action is taken to contact clients and block resistant hotels to ensure smooth operations and prevent errors.

All discussed bookings are refundable. For bookings with close cancellation deadlines, the system either rebooks profitably within the window or refrains from rebooking non-refundable bookings. The system avoids breaching rules and cancels bookings close to check-in dates to maintain compliance.

HotelMaz offers a safe, manageable, and transparent solution to clients. The system provides a dashboard for transparency and communication to ensure client satisfaction. A special promotion for March offers three months of free service for new clients, with no initial investment and a revenue share model based on fulfilled bookings.

In the event of a hotel abruptly closing down without warning, refundable bookings will still be honored, ensuring end consumers receive their money back. The focus is on customer service, with hotels needing to inform clients of booking fulfillment challenges. Hotel mice operates within the boundaries of free cancellation policies, mitigating risks for both hotels and consumers.

Non-refundable or last-minute bookings pose challenges as they are not typically handled by Hotel mice unless they fall under a specially refundable policy. The system allows easy cancellation of refundable bookings, minimizing exposure to risks even in extreme scenarios like hotel closures or emergencies.

Hotel mice leverages algorithms and data from millions of bookings to identify potential issues at hotels swiftly. By partnering with Idol, the system can flag problematic situations early, ensuring proactive risk management. The vast amount of data available aids in making informed decisions and safeguarding against potential disruptions.

Water Mines offers a risk-averse solution for hotels by rebooking only cancellable bookings without penalties. The system's ability to handle large volumes of data and bookings provides a safety net for hotels, allowing them to optimize profits without taking unnecessary risks. The end goal is to minimize manual intervention and increase revenue with minimal effort.

Hotel mice monitors over 2 million hotel reservations daily, enabling the system to flag suspicious activities promptly. A dedicated operation team further analyzes flagged issues to assess risks and decide on appropriate actions, including potential hotel blocks. Effective communication with end consumers ensures transparency and alignment throughout the process.

The solution presented works behind the scenes, ensuring that the end consumer checking into a hotel remains unaware of any rebooking or upgrades. This seamless process maintains customer satisfaction and profitability for all parties involved.

The system operates with a high success rate of 99.9%, minimizing issues during check-in due to changes in vouchers or bookings. Names and passport details stored in the hotel's system ensure smooth operations without disrupting the guest experience.

Notifications regarding booking changes are strategically managed to prevent unnecessary alerts to end consumers. The system ensures that rebookings are seamlessly executed without triggering a chain of notifications, maintaining a seamless experience for customers.

Hotel mice and WBE will be present at the ITB Berlin exhibition next week, offering opportunities for personal contact and meetings. Attendees can connect with the teams to discuss potential collaborations and engagements. Mark and other team members will be available for discussions.

The webinar concludes with appreciation for participants' time and engagement. Attendees are encouraged to reach out to receive a recording of the webinar from the WBE or hotel mice team. The session aims to be informative and enriching for all involved.