Real-time intelligent decisions drive revenue and a transformative guest experience
PRiME® is the real-time, data-driven pricing and merchandising engine that serves as the intelligence engine of Nor1’s Pricing & Merchandising Intelligence Platform. PRiME’s automated approach to Machine Learning/Artificial Intelligence and offer generation enables hospitality companies to create more meaningful interactions, post-booking, with their guests that build loyalty and drive long term revenue.
This patented “decision intelligence” engine is a technology first for the hospitality industry and is built with the most advanced mathematics and technology in Silicon Valley. Using sophisticated algorithms trained on millions of historical transactions, it can better predict guests’ willingness to pay for upgrades over and above the amount they already paid for their confirmed reservations.
The Right Offer, for the Right Guest, at the Right Time
Unlike a mere recommendation engine, PRiME® accurately identifies in real-time what products and pricing to show a particular guest and then presents an offer set to the guest on behalf of the hotel. It’s this “decision intelligence” that will increase a property’s revenue and strengthen customer loyalty.
When information such as purchase history or travel preferences is utilized to create a dynamic customer experience, a deeper personal relationship develops between you and your guest. That’s why PRiME® considers hundreds of variables and interactions, including:
• Length of stay • Number of guests • Arrival day of week • Guest history • Historical upsell data • Original booked price.
What is the Revenue Value of the Upgrade Lifecycle?
Day before/of Arrival & at Check-In
Based on a Standard Hotel: (~350 Rooms; 3-4 Star) – Stats for Luxury and Resort higher.
Based on room inventory upgrades – Stats for other non-room merchandising offers vary, however
these offers increase Reservation Shopping Cart percentages: (F&B; Spa; Parking; Early/Late Check-in).
PRiME® Decision Intelligence makes real-time and targeted offers using guest-centric and transaction-specific data.
As your guests loyalty grows, So does PRIME’S memory.
- PRiME® gets smarter with each transaction and learns from every guest interaction, including what they didn’t select… that is important, too!
- PRiME® offers make guests happy because each one is engineered to direct a guest to comfortably select a desired price.
- PRiME® transforms error-prone business intelligence (reports and dashboards) and enables a real-time dialogue with your guests.
- Leverage PRiME’s resultant data across hospitality enterprise: Marketing, Loyalty, Revenue Management and Operations.
Impact of Nor1’s Upselling Products
Requests for A Room with a View
Requests to Sleep Late
Average price requested for Late Check Out