'Revenue Management is the money making part of a hotel’s IT ecosystem,' adds Ira Vouk, Vice President of Business Development at iRates, LLC
San Diego, CA (PRWEB) February 12, 2014
iRates LLC and Appnostic LLC’s technology development division AppnosticWorx announce new partnership that combines their resources, efforts and offices to expand iRates Revenue Management System’s presence in the hospitality industry worldwide.
The goal of this partnership is to make iRates’ revolutionary core algorithm for managed and automated Revenue Management, easily available for low- and mid-tier hotels. Using Appnostic’s technology resources, proven experience, and global locations, iRates will accelerate deployment as an embedded solution to Property Management Systems, Channel Management Systems, Central Reservations Systems and other key partners of the travel distribution ecosystem.
“We are going through an expansion and growth stage and part of our strategy is to make “powered by iRates” available as a managed or automated option for hotels that want to improve their Revenue Management practices,” says Vadim Asadov, CEO of iRates.
Appnostic and iRates agreed to combine their offices worldwide to maintain 24/7 support for customers and partners. Now, technical specialists are available in offices in San Diego, New York, London, Brno and Moscow.
“We like iRates’ approach and we can see great potential here,” explains Brian Dass, CEO of Appnostic LLC. “A lot of mid-size properties, hotel groups and chains show more and more interest in having revenue management systems simplified and automated, which iRates provides.”
“Revenue Management is the money making part of a hotel’s IT ecosystem,” adds Ira Vouk, Vice President of Business Development at iRates, LLC and a Certified Revenue Manager. “Implementing iRates revolutionary Revenue Management core inside of the PMS, Channel Manager, Rate Shopping services and other hospitality software solutions, gives every hotel a chance to optimize their financial decisions even with limited or no revenue management experience.”
i-Rates is the new-generation Hotel Revenue Management System that is extremely intelligent yet simple to use. It sells hotel rooms at an optimal price every day of the year, automates daily routine Revenue Management tasks, provides all necessary information for the manager’s strategic analysis and increases the bottom-line. It is adaptable and fully flexible. The core of i-Rates is the innovative state-of-the-art algorithm based on the mathematic theory of reinforcement learning. Its central algorithm is based on maximizing the final yield when taking into account all revenue-generating factors.
About AppnosticWorx a division of Appnostic LLC
Headquartered in New York with offices in Brno and London, Moscow, and San Diego, AppnosticWorx is a global web, mobile and custom application development company with specific focus in helping hospitality and travel technology vendors achieve it’s development goals and initiatives by offering additional resources and lead project development. Their seasoned team of developers, designers and project managers have mastered a variety of hospitality platforms, multiple programming languages and popular API’s to deliver standout user experiences for consumers and businesses. Please visit http://www.appnosticworx.com.