Business automation Machine Learning Based Solution for a Hotel

Using a method known as the "k-nearest neighbors (KNN) algorithm," we created the solution to automate their procedure for finding the best rent for rooms out of all those listed.

Industry Information: Hospitality

The client is a well-known hotelier with headquarters in India who has accounts on numerous websites that offer hotel booking services.

Based on the dynamics of the various accommodation booking systems, the client must establish the ideal rent. The client has to comprehend market trends and competition analyses based on several parameters, such as the number of rooms, beds, bedrooms, and bathrooms.

Key Challenges

The client is facing the following challenges while deciding the per day rent for online hotel booking service providers’ platform

• Hitting the right price for the would-be renters
• Balancing between the price not being too low to face lesser revenue or being too high to lose out on potential clients
• Judging the possible rate for rooms depending upon the dynamism of the market

They sought a software solution that would enable them to choose daily rates for hotel room rentals that would draw customers and increase income.

Our Approach

Digital Errors helped the customer after determining their issues by developing a machine learning model that establishes the rental pricing to be displayed online for reservations.

We developed the solution to automate their process for selecting the best rent for rooms out of all those advertised using the "k-nearest neighbors (KNN) algorithm."

The solution's process flow is as follows:

• Find a few comparable listings
• The average of the quoted prices for all businesses that offer comparable services
• Set this determined average price as the listing price.

There are many other graphical representations accessible based on various characteristics, including accommodations, bedrooms, beds, baths, etc.

These illustrations provide a great lot of clarity for making the best choices.

 

Business Advantages

• The best rentals are those who rent out their premises to nearby hotel service providers.
• Can be done in a similar way for a taxi rental system.
• Based on typical prices, offers the best rental rate for all hotels.
• Handles the dynamism of the internet market well
• Enhances efficiency and profitability while drawing in additional renters.