A look back at five years of cooperation and success with HGV South Tyrol

The Hotel and Catering Association (HGV) and RateBoard are celebrating the fifth anniversary of their collaboration.

RateBoard already has more than 300 satisfied customers in South Tyrol, making it one of the most important partners in the revenue management sector.
In an interview with Klaus Schmidt, Head of HGV Management Consultancy, we reflected on the last few years of our partnership.

How did the partnership between HGV and RateBoard begin?

Klaus Schmidt remembers the beginnings of the collaboration: ‘The two RateBoard founders Simon Falkensteiner and Matthias Trenkwalder approached HGV at a very early start-up phase. They presented their idea and their vision and wanted an assessment from HGV, or more precisely from the management consultancy. Although the concept of yield management was known at the time, it was not yet present in the holiday hotel industry in South Tyrol. On the contrary: the idea of dynamically adjusting prices to demand and capacity utilisation was rejected a priori as ‘not feasible’... what would the regular guests etc. say?’

However, the HGV, in particular the management consultancy department, saw the potential of the idea.
‘The management consultancy saw it differently and it was not least the enthusiasm and drive of the young startuppers that were decisive in agreeing to stay in touch. The idea and the vision continued to inspire us at HGV - the finished product even more so, and that's how a cooperation came about’, emphasises Schmidt.

The cooperation with the HGV, in particular with the management consultancy department, which has always followed the dynamic pricing trend, has enabled RateBoard to tailor its offers precisely to the needs of the hotel industry in South Tyrol.

What have been the most important milestones in the partnership over the last five years?

The partnership between HGV and RateBoard has made significant progress over the past five years. ‘As joint pioneers in the field of revenue management, we have gained valuable insights through training, workshops and continuous dialogue, which have been directly incorporated into the further development of the software’, explains Matthias Trenkwalder, CEO of RateBoard.
This close exchange, ‘also on an informal personal level’, says Schmidt, has contributed significantly to RateBoard's ability to continuously optimise its software.

The results speak for themselves: customer satisfaction is high and many hotels have been able to significantly increase their turnover by using RateBoard software.

What advantages does the partnership offer customers?

RateBoard is proud to offer smaller hotel businesses the option of optimised price recommendations. This was made possible by an extensive data cloud and continuous further development with artificial intelligence. The AI algorithms are now so refined that they can make precise predictions even with smaller amounts of data, which is a great advantage for smaller businesses in particular. Small accommodation providers now benefit from the same high-quality pricing strategies that were previously only available to larger establishments. This means fairer market positioning and also enables all providers to remain competitive, maximise their revenue and save a lot of time. Klaus Schmidt adds that there are ‘monetary benefits for members as well as professional advice and a reliable tool for the dynamic marketing of hotel beds’.

What are the plans for the future of the partnership between HGV and RateBoard?

Looking to the future, the focus is on further expansion of the partnership. ‘Expanding the offer and application for medium-sized and small businesses and thus fulfilling the long-cherished wish to be able to make the benefits of this partnership available to this category of accommodation providers as well’, announces Schmidt.

Conclusion

The five-year partnership between the HGV and RateBoard is an excellent example of how collaboration and innovation can lead to great success. By combining industry expertise and technological innovation, they have made a lasting difference to the hospitality industry and provided HGV members with valuable tools to increase profits. We look forward to the next five years and the many more successes this partnership will bring.

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Marketing Manager

August 29, 2024

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