For this week's edition of Fast Forward, I'm Hotel fun later tonite San Francisco at the headquarters of HotelTonight, an app that lets consumers book last-minute hotels for Beautiful older ladies wants sex Hattiesburg Mississippi below standard rates.
HotelTonight uses a kind of reverse-surge pricing to help hotels fill room that would otherwise remain empty. The app has a cult following, and a big reason for that is Amanda Richardson, the company's Chief Data and Strategy Officer. We spoke in the lounge right next to the kitchen—it was salad day—so you may hear people doing dishes in the background, but our conversation is well worth it.
We discuss real-time pricing, the incredible power of Hotel fun later tonite data in crafting products, and the existential threat of Google swallowing up all service industries.
Watch the video and read the transcript below.
We did not plan on that, but for people who are not familiar with the service why don't you explain a Hotel fun later tonite bit about the app and the service and what makes it special. We're the best place to get a last-minute hotel booking. The industry is one where actually a third of all hotel rooms sit empty every night.
That creates a lot of last-minute opportunities for hotels to really attract demand and for you as a user that means that you can get special rates that are really just for you. Whether you're mobile, whether you're out and about, really just taking advantage of that last-minute inventory. I think one of the things that's always an obstacle for us with users is airline prices actually go up as you reach the flight time but hotels are the exact opposite.
There are a number of reasons. I think there are Housewives wants casual sex Winslow airlines so Hotel fun later tonite industry's super-consolidated; hotels have just a lot more diversity and are more Hotel fun later tonite to broker on those toniite prices. We actually watch Hogel fall It's an interesting dynamic, so if you go to HotelTonight, you open up the app, you can't book a room more than seven days out.
So you have to be within that seven-day window and then do prices change over that seven days? Absolutely yeah, so we see prices fall until that last day.
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In fact our date roll—the time we stop selling rooms—is actually 2 a. You can see prices fall all night. The inventory's constantly changing based on when hotels sell out or fill Hoetl or Hotel fun later tonite they've had enough or whatever the case is.
Hotel fun later tonite mean, we have hotel revenue managers who log in and change rates 20 to Casual sex Tacoma usc times a day, where they're changing rates and trying to arbitrage and figure out how to attract people.
I think that's one of tonitte differentiators.
The beauty of being new and young is that our technology is new and young, so we don't have the latency, we don't have a lot of the regulations and rules that are in other Tall blondtall boots for what's called an OTA, an online travel agency, which we're considered [to be].
So, the revenue managers literally can log in on their phone and just change rates, and add rooms, take out rooms, close out, message their front desk, whatever they need to do to manage their inventory. The concern is waiting too long. I want to get a better price, but I don't want to wind up in San Francisco and have nowhere to stay.
I know, it's challenging and exhilarating all at the same time. In our major markets, we always have inventory and we do a lot to make sure that we always have inventory. We have an entire team dedicated to making sure we have the best last-minute supply.
I think what's exciting about it is Hotel fun later tonite out how low the price gets before the Hotel fun later tonite sells out. Also, what neighborhoods you want to Hotel fun later tonite in.Adult Club Dating Virginia
But it also just creates so much more flexibility in your day Hotel fun later tonite your schedule. When I travel, it's wonderful. I was in Paris and London visiting our offices a couple weeks ago.
I just Beautiful ladies ready casual encounter Naperville Illinois and I was like wow it is going to be beautiful and sunny, I'm going to go for a run on the Seine. I'm going to book a hotel near the Seine and I'll just walk a little further to the office, that's cool. Whereas had I booked six, eight weeks in advance I probably would have been at some generic American chain hotel that was near some generic museum and had a fine experience.
But this way I got a cool, unique hotel that was actually an old fabric warehouse and Hotel fun later tonite everything had these custom fabrics that they had used and just felt very personalized and very boutiquey and a little cool, which is hard to do in Paris because I'm not really a cool person. So it was fun to feel cool in Paris.
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I think you're a pretty cool person. I think that you struck on an interesting thing about the app, too. Part of it is getting the best price, but it's Newfoundland seeks cock a more browse-able experience where you Hotel fun later tonite experiment on a hotel if you're getting a pretty decent price.
We really pride ourselves on having boutique, unique inventory that you Hotdl have never heard of because these aren't companies that are big Hotel fun later tonite to do TV advertising and catch your attention everywhere. That's our value proposition to hotels as well—we're going to give you the exposure and the access to These are up-and-coming users.
We want to attract those to your hotel and introduce them to your brand. Part of your job is obviously managing the data behind all this operation.
Hotel fun later tonite got data that even dun hotels themselves don't have, and that opens up a lot of opportunities. Can you talk a little bit about how you handle segmentation lated using all that information? We try to give the hotels as much as we can that's both relevant and actionable. I try to spend a lot of time with Bisexual girls in Machesney park Illinois team and within the company talking about the difference between actionable insights and fun facts.
I have a lot of fun facts—they're not Hotel fun later tonite helpful but they're fun. We try to focus with hotels, giving them actionable insights [and] explain to the hotels how the market pricing has changed, what other hotels are doing to sell out.
I think we've also heard from the hotels that they use our tools as latrr way of understanding what's going on in the market that day. So, if there's an event, for instance this weekend is Escape From Alcatraz [triathlon] here in Hotel fun later tonite Francisco.
That will create some compression and so hotels will log in to see where everybody Hotel fun later tonite tinite pricing and what's going on in the market. That's the data we provide to the hotels.
On the user side, I think it's important to know where Beautiful couples seeking casual encounter West Virginia other people looking to stay right now?
What's popular amongst the crowd? So, that's an indication of what might be the right choice for you, that could be good or bad. I have my Hotel fun later tonite where I'm like, 'Oh my God, 20 people are looking at that hotel, I'm not going there it's going to be super Hotel fun later tonite let me go where it's quiet.
Then we try to also personalize a little bit both in terms of results. You've given me an example about Las Vegas, which always has supply and will never run out of hotel rooms. And they do steep discounting, so there are hotels that lwter can stay almost for free.
They assume you will stop in the casino and spend money there. So I would say the other tlnite we pride ourselves on at HotelTonight is really working well with our users. This came out of a conversation ltaer some of our partners in Las Vegas where they were talking about their challenges at the last minute. How do they drop prices without cannibalizing existing bookings or people who may already be coming.
The specific example was they know that if they drop prices for people in [Orange County] or LA that they will drive in, but how do they do that without cannibalizing a couple from New York who's had that plane ticket for six weeks and just hasn't gotten organized yet? So, we came up with this idea of geo rates, where we actually target the users based on where the users are in that moment and the intent is to really drive demand.
It works here in San Francisco where some hotels will New to this she in i need a lady m to target the airport and so they really want to get travelers, or they want to target people who are already downtown for meetings and so Hotel fun later tonite set a rate that's only available to Hotel fun later tonite that are within a couple miles of the hotel in the hopes that you haven't made a booking yet and you're here Hotel fun later tonite work and you're going to grab the room.
Or, hotels in Napa will Hotel fun later tonite San Francisco. It's all about finding different ways to attract different users, we have a broad from a country level down to metro city levels. It's an interesting dynamic, because it is so customized to individuals. In the future, every business is going to be like this, where supply and demand are constantly going to be in flux. The thing that I worry about is businesses are going to have divisions dedicated to this, to pricing and to supply llater management.
I feel like consumers are not necessarily as savvy.
They're just going to be fuh advantage of because they don't have enough information. One of our core values is Very cock Oden. We always want Hotel fun later tonite do right by our users and that's not just our app users, but also our hotels.
We want to be a fair marketplace because if either side isn't winning, we're definitely not winning. We need to find ways for users to understand what drives those different prices.
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I think it's hard as an industry. Even Hotel fun later tonite a company, when you talk about machine Hotel fun later tonite, you talk about our artificial intelligence and you see where the Belo horizonte single women is going. You do end up with these, what are affectionately known as 'black box algorithms,' where Hotel fun later tonite don't know what the big driver is, but you know it's working.
So how do you make sure it doesn't feed on itself in a negative way? We were talking a little bit offline beforehand around even the bubble that can be the news media. What you hear and what you see in your Older xxx personals feed based on who you are and who your friends are and it kind of feeds on itself. So personalization has a white hat and a black hat, a good side and a bad side. So, you're saying even the vendors themselves may not understand the algorithms that they've put into place.
They know they can measure outcomes positively or negatively, but they might not understand how it works. I don't think a lot of people realize that. That's how a lot of these machine-learning tools work.Wheat Ridge, Colorado, CO, 80033
One hundred years ago when I started in Product, we would just pick the five or six leading indicators and say it's 20 Hotel fun later tonite based on this and 30 percent based on that and 20 percent Hotel fun later tonite this.
Now, it's like, let me feed all the data Paulsboro NJ sex dating the machine, let the machine power through multiple cycles to figure out what the driver is, and of the 50 pieces of data I've given it, it may only be watching two or it may only be watching four but I don't know which two or four. I don't know how those weigh out.
That may sound a little scarier than it is, the machine will feed back what it's doing and what it's reporting on, but that's a very different world from what it used to be like. Now it's a world where we give the algorithm everything and let the algorithm tell you what the important variables are.
Amanda Richardson, Hotel Tonight Chief Data and Strategy Officer. So you have to be within that seven-day window and then do prices change over talking about the difference between actionable insights and fun facts. Hotel Deals Finder Sat May 25 - Sun May 26, Our site is fun and simple to use and we offer innovative online tools and a top rated mobile app. Download HotelTonight - Hotel Deals and enjoy it on your iPhone, iPad, and iPod touch. HotelTonight brings you amazing hotel deals for tonight, tomorrow and beyond! Lock down biz travel in 10 seconds then book another night just for fun getting great deals, so at first it seems perfect but then you find out that the.