Group-revenue-management solution helps airlines maximize revenue and minimize risks generated from group customers. The solution supports the completion of group reservations and requests effectively and efficiently, utilizing automated business processes that reduce error-prone manual interactions and time-to-completion.
In today’s environment, business challenges are escalating for airlines as the industry continues to evolve and become more complex and competitive. These mounting challenges continue to center around necessary requirements to increase profits, as well as analysts’ productivity. Added into this mix for airlines is the need to become more customer-centric in their approach, and in their service offerings.
One area of airline operations, in particular, that is affected by these complexities involves the group-reservations process. Group-revenue-management systems have been constrained by dated technology and/or cumbersome processes that inhibit accurate and expedient decision-making capabilities. This archaic practice continues to require airline personnel to perform numerous manual touchpoints supported by overnight batch processing, resulting in slower decision-making response times, slower time-to-value and decreased customer satisfaction.
This archaic practice continues to require airline personnel to perform numerous manual touchpoints supported by overnight batch processing, resulting in slower decision-making response times, slower time-to-value and decreased customer satisfaction.
The need to implement a new approach — involving technology and processes — is amplified by the fact that group reservations can contribute as much as 10 percent to an airline’s overall revenue and helps fill seats that may have otherwise gone unsold. Conversely, if handled improperly, group reservations — which are often offered at discount and/or special rates — can dilute an airline’s revenue and overall bottom line instead.
Optimizing group revenue management
To handle the unique challenges associated with the group-reservations process from initial request to fulfillment, airlines require a powerful decision-support tool.
Sabre AirVision Group Optimizer, Sabre’s next-generation group-revenue-management solution helps airlines control group reservations and requests effectively and efficiently.
The advantages of Group Optimizer to airlines are numerous. Developed as a robust and configurable tool, Group Optimizer facilitates the optimization of group revenue management across all of an airline’s revenue streams, including fares, ancillaries and partnerships.
Integrating real-time inventory
Group Optimizer’s real-time inventory integration provides more accurate and timely decision-making for airlines. It enables airline personnel to sense and respond to competitive pricing and inventory changes immediately to accurately forecast demand and maximize revenues via integrated user workflow, rules engine and expanded set of alerts flowing between inventory and revenue management
This article was written by Bill Nesbitt, Ascend Contributor and Lauren Lovelady, Ascend Staff.