10.23.2024
Cloudbeds has revealed plans to become the world’s first property management system (PMS) to connect every facet of hotel operations into a single intelligence network, powered by causal and multimodal AI.
Unveiled at Cloudbeds’ Passport User Conference on October 23, the technology provider’s first-of-its-kind ‘smart hospitality engine’, Cloudbeds Intelligence, will sit at the core of its platform, empowering hoteliers with real-time insights and actionable recommendations across their entire operations.
The innovative platform layer harnesses multimodal AI, which integrates and processes multiple types of data including images and text, and causal AI, which identifies the cause-and-effect relationships within data, to enable accurate and informed decision-making to drive unified commercial strategies for hoteliers. By allowing hotels to better understand and react to price elasticity in the market, the model is projected to increase RevPAR by up to 15% and boost occupancy rates by up to 10%, while maintaining efficient workflows with existing hotel staff.
Cloudbeds Intelligence marks a breakthrough in eliminating the traditional silos of hotel management, empowering properties to take specific, data-backed actions across every function of their business – including revenue management, marketing, operations, and guest experience.
Adam Harris, Co-Founder and CEO of Cloudbeds, said: “Today, we’re redefining the standards for decision-making in hospitality. We’re not just giving hoteliers data-driven insights; we’re enabling them to take precise actions that deliver a unified, commercial strategy – from setting dynamic room rates to launching targeted marketing campaigns. Cloudbeds Intelligence will unlock new revenue potential for hoteliers across every aspect of their business.”
Amit Popat, Head of Machine Learning at Cloudbeds, added: “What Cloudbeds Intelligence does is far beyond traditional forecasting. By bringing together data from every department of the property and combining it with our rich data lake of forward-looking demand signals such as competitor rates, search data, events and holidays, Cloudbeds Intelligence can unlock the cause-and-effect relationships affecting not only the property’s revenue strategy, but also marketing, operations and guest experience. And more importantly – it can help pick the optimum combination of strategies to drive the property’s profitability. Whether it’s mitigating cancellations with predictive marketing suggestions or personalizing guest experience with tailored upsell recommendations, our supercharged platform will help hoteliers take the best actions to meet their goals. This level of decision intelligence simply hasn’t been available until now.”
By leveraging rich datasets from Cloudbeds and its partners, Cloudbeds Intelligence will empower hoteliers to take actionable steps to boost revenue, optimize their operations, and improve guest satisfaction.
Some of the capabilities Cloudbeds Intelligence will enable include:
- Unified revenue management and marketing: Hotels will be able to set optimal rates based on forward-looking demand signals and deploy targeted promotions to mitigate cancellations. If forecasted occupancy drops, the platform will not only suggest adjusting rates but also activate a marketing campaign with curated audience segmentation to attract last-minute bookings.
- Data-driven upselling and personalization: Cloudbeds Intelligence will enable hyper-personalized guest experiences by accurately predicting preferences and delivering highly targeted offers to guests, ensuring that hoteliers seize every upselling opportunity.
- Empowering staff: The new multimodal AI layer will equip the team with real-time search across their property’s unstructured training data on operational guidelines and guest preferences, including text content such as manuals, guest special requests and reviews, and also their property’s image library. This reduces staff onboarding time and improves service consistency.
To learn more about how Cloudbeds Intelligence will usher in a new era of decision-making in hospitality, visit cloudbeds.com/ai.
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