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Dynamic pricing in airline industry: why flight fares constantly change
Aug 27, 2019

Dynamic pricing in airline industry: why flight fares constantly change

Looking for ways to maximize their profits, airlines can change prices for the same service class on the same flight multiple times within several days. To make this happen, airline revenue managers need to take hundreds of different factors into consideration. But there is a comprehensive strategy, serving as a foundation to this kind of dynamic pricing. Watch our new video to find out: • What are the different types of traveler behavior and how airlines cater to it? • What are fare buckets? • How supply and demand affect pricing? • Can the price of an airline ticket drop closer to the departure date? • What will be the future of flight tickets pricing? To learn more about dynamic pricing check our article: https://www.altexsoft.com/blog/datascience/dynamic-pricing-explained-use-in-revenue-management-and-pricing-optimization/ Learn more about AltexSoft: https://www.altexsoft.com Follow us on LinkedIn: https://www.linkedin.com/company/altexsoft/ Follow us on Facebook: https://www.facebook.com/altexsoft/ Follow us on Twitter: https://twitter.com/AltexSoft Music in video: • Hackerland by Twin Musicom is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://www.twinmusicom.org/song/292/hackerland Artist: http://www.twinmusicom.org • Divertissement by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100256 Artist: http://incompetech.com/ • Happy Boy End Theme by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100648 Artist: http://incompetech.com/ #dynamicpricing #travelbusiness #travel #flightpricing

9 minTravel
What is IATA and how does it work?
Nov 25, 2019

What is IATA and how does it work?

IATA or International Air Transport Association was formed for over 70 years ago. The main goal was to regulate all things in airlines and commercial aviation: fare calculations, revenue allocation, baggage rules. Now IATA is a main source for the current and future aviation climate. Even if you’re not a commercial airline but want to distribute tickets or run interline flights, it will control you. How so? Check in our new video about IATA and how does it work: • what are IATA codes? • IATA & airlines • IATA & travel agencies • General Annual Meeting and IATA priorities Read more in our articles: 1) New Distribution Capability (NDC) in Air Travel https://www.altexsoft.com/blog/travel/new-distribution-capability-ndc-in-air-travel-airlines-gdss-and-the-impact-on-the-industry/?utm_source=youtube&utm_medium=link&utm_campaign=iata 2) How to Get IATA Accreditation for Travel Business: Options and Steps to Take https://www.altexsoft.com/blog/iata-accreditation/ 3) One Order by IATA: How It is Going to Impact Airlines https://www.altexsoft.com/blog/iata-one-order-for-the-airlines/ Learn more about AltexSoft: https://www.altexsoft.com Follow us on LinkedIn: https://www.linkedin.com/company/altexsoft/ Follow us on Facebook: https://www.facebook.com/altexsoft/ Follow us on Twitter: https://twitter.com/AltexSoft Music in video: • Backed Vibes Clean - Rollin at 5 by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1400029 Artist: http://incompetech.com/ • Dreamy Flashback by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100532 Artist: http://incompetech.com/ #Iata #IATAcodes #GeneralAnnualMeeting #aviation #travelindustry #travelworks #airlineindustry

10 minTravel
How airline distribution works | Global Distribution Systems | New Distribution Capability (NDC)
Jan 18, 2019

How airline distribution works | Global Distribution Systems | New Distribution Capability (NDC)

To learn more check our articles: New Distribution Capability https://www.altexsoft.com/blog/travel/new-distribution-capability-ndc-in-air-travel-airlines-gdss-and-the-impact-on-the-industry/ , APIs in travel https://www.altexsoft.com/blog/engineering/travel-and-booking-apis-for-online-travel-and-tourism-service-providers/?utm_source=youtube&utm_medium=link&utm_campaign=airlinedistribution , and our infographic about key API providers in flights https://www.altexsoft.com/infographics/flight-information-and-booking-apis/ Learn more about AltexSoft: https://www.altexsoft.com Follow us on LinkedIn: https://www.linkedin.com/company/altexsoft Follow us on Facebook: https://www.facebook.com/altexsoft/ Follow us on Twitter: https://twitter.com/AltexSoft #TravelTechnology #TravelAPI #GlobalDistributionSystem

7 minTravel
Revenue Management - the science of ultimate hotel success
Jun 17, 2020

Revenue Management - the science of ultimate hotel success

Basically, revenue management does a difficult job of matching supply and demand or selling the right room to the right client at the right moment at the right price on the right distribution channel with the best commission. This is something any business has to do to stay profitable, but something the hotel industry needs the most. Why ? Learn more about AltexSoft: https://www.altexsoft.com Follow us on LinkedIn: https://www.linkedin.com/company/altexsoft/ Follow us on Facebook: https://www.facebook.com/altexsoft/ Follow us on Twitter: https://twitter.com/AltexSoft Follow us on Instagram: https://www.instagram.com/altexsoftcom/ Sources: [ 1 ] https://www.wsj.com/articles/marriott-to-acquire-starwood-hotels-resorts-1447673866 [ 2 ] https://skift.com/2014/09/26/latin-american-hotels-have-a-supply-and-demand-problem/ [ 3 ] https://sha.cornell.edu/faculty-research/faculty/sek6/ [ 4 ] https://scholarship.sha.cornell.edu/cgi/viewcontent.cgi?article=1239&context=chrpubs - page 8 [ 5 ] https://suite.booking.com/rateintelligence/ https://welcome.expediagroup.com/en Read more in our articles: 1) Hotel Revenue Management: Solutions, Best Practices, Revenue Manager’s Role https://www.altexsoft.com/blog/business/hotel-revenue-management-solutions-best-practices-revenue-managers-role/ 2) Machine Learning Redefines Revenue Management and Dynamic Pricing in Hotel Industry https://www.altexsoft.com/blog/datascience/machine-learning-redefines-revenue-management-and-dynamic-pricing-in-hotel-industry/ Music in video: Hiatus (https://freemusicarchive.org/music/Frequency_Decree/2019032962919594/Hiatus) by Frequency Decree (https://nultielrecords.blogspot.com/) is licensed under a Attribution-NonCommercial-ShareAlike License. (https://creativecommons.org/licenses/by-nc-sa/4.0/) Massive Attack (https://freemusicarchive.org/music/Podington_Bear/Homage_Fromage/Massive_Attack) by Podington Bear (http://soundofpicture.com//) is licensed under a Attribution-NonCommercial 3.0 International License.. (https://creativecommons.org/licenses/by-nc/3.0/) Digital Savanna (https://freemusicarchive.org/music/Metre/Motif_1827/Digital_Savanna_1238) by Metre (https://nultielrecords.blogspot.com/) is licensed under a Attribution-NonCommercial-ShareAlike License.(https://creativecommons.org/licenses/by-nc-sa/4.0/) Hill And Dale (https://freemusicarchive.org/music/Chad_Crouch/Evolver/Hill_And_Dale) by Chad Crouch (https://www.soundofpicture.com/) is licensed under a Attribution-NonCommercial 3.0 International License. (https://creativecommons.org/licenses/by-nc/3.0/) Adventure (https://freemusicarchive.org/music/Chad_Crouch/Motion/Adventure) by Chad Crouch (https://www.soundofpicture.com/) is licensed under a Attribution-NonCommercial 3.0 International License. (https://creativecommons.org/licenses/by-nc/3.0/) "Effemeah Weeps" (https://freemusicarchive.org/music/Uncanny/~/Effemeah_Weeps) by Uncan (http://www.uncannytracks.com/) is licensed under a Attribution-NonCommercial 3.0 International License. (https://creativecommons.org/licenses/by-nc/3.0/) The Spring (https://freemusicarchive.org/music/Chad_Crouch/Field_Report_Vol_I_Oaks_Bottom_Instrumental/The_Spring_Instrumental) by Chad Crouch (https://www.soundofpicture.com/) is licensed under a Attribution-NonCommercial 3.0 International License. (https://creativecommons.org/licenses/by-nc/3.0/) Phase 3 (https://freemusicarchive.org/music/Xylo-Ziko/20190519133430449/Phase_3_1142#) by Xylo-Ziko (https://nultielrecords.blogspot.com/) is licensed under a Attribution-NonCommercial-ShareAlike License. (https://creativecommons.org/licenses/by-nc-sa/4.0/) Phase 5 (https://freemusicarchive.org/music/Xylo-Ziko/20190519133430449/Phase_5_1726) by Xylo-Ziko (https://nultielrecords.blogspot.com/) is licensed under a Attribution-NonCommercial-ShareAlike License. (https://creativecommons.org/licenses/by-nc-sa/4.0/) Phase 1 (https://freemusicarchive.org/music/Xylo-Ziko/20190519133430449/Phase_1_1909) by Xylo-Ziko (https://nultielrecords.blogspot.com/) is licensed under a Attribution-NonCommercial-ShareAlike License. (https://creativecommons.org/licenses/by-nc-sa/4.0/) La tapa improvisada (https://freemusicarchive.org/music/CIRCUSMARCUS/La_tapa_del_da_LP/16_La_tapa_improvisada_MASTER_1716) by Circus Marcus (https://www.circusmarcus.net/) is licensed under a Attribution-NonCommercial 3.0 International License. (https://creativecommons.org/licenses/by-nc/3.0/) #Revenue #revenuemanagement #hotelmanagement #traveltech #hospitality #demandforecasting Video footages: Videvo.net (author: Videvo)

8 minTravel