Auto Repricing Engine
Once a booking has been completed and a deposit or full payment is taken, there is a window of opportunity to increase the profit margin on the booking. Some organisations have staff manually checking for fare differences within the pre-ticketing or free cancellation period- but this is HR intensive.
Airlines
Airlines will often open up lower fare classes within the same cabin class intermittently. If a customer has bought a ticket in a higher fare class specifically because of the flexibility it offers on changes and cancelations, their booking will never be touched. If however a client has booked a flight inclusive holiday, or simply the cheapest available fare, the system will regularly scan the airlines availability for the flights the have been booked. If a lower fare becomes available, the system will re-book the PNR (using technology that prevents the airline treating the new PNR as a churned booking) onto the lower class.
With fares in economy varying by us much as £500 a seat, it is possible to make £2,000 additional profit on a booking for a family of 4!
This process can be fully automated, or an alert can be sent to a staff member with the information that they can then use to process manually.
Hotels
If the hotel that has been booked allows cancellation, the system will regularly scan the XML feeds to identify of the same hotel on the same meal plan and within the same room type becomes available at a lower cost. The system will calculate cancelation charges (if any) and identify the additional margin that can be made by. If the hotel booked has had any value added benefits applied, the system will ensure that the alternate price includes the same.
This process can be fully automated, or an alert can be sent to a staff member with the information that they can then use to process manually.
Car Hire, Cruise and Other products
Although less frequently as profitable, our repricing engine also applies to all other travel products within the system. Based on the criteria set, if a better price becomes available, the system can rebook or alert staff to rebook at the lower price.