HRS Introduces Rate Projection Technology Powered by Augmented AI
By Harvey Chipkin
HRS, a hotel solutions provider, has introduced hotel rate projection technology powered by augmented artificial intelligence (AAI). The company claims to be the first technology company using AAI in support of corporate hotel programs. HRS says it now deploys a higher level of benchmarking and precise rate projection on behalf of clients. With AAI driving new insights, program managers have more leverage in hotel negotiations, helping them save upward of 10% in their top destinations, according to HRS. Procurement executives will also have more accurate insights as they build lodging budgets, finalize preferred rates and integrate those rates into search and book channels. AAI, according to HRS, is superior to standard AI as it runs multiple data models instead of a single routine. Tobias Ragge, CEO of HRS, said that identifying market-specific patterns in a fraction of a second, AAI explores data continuously, probes various scenarios and interprets results in a more accurate way for global programs. It also strips out, he said, irrelevant data points that humans would believe have a high impact.