As you know with FLYR Hospitality, we can optimise your inventory at the most granular inventory type level and give you the best pricing recommendations based on the demand for that inventory. However, in some cases, this becomes difficult due to the lack of data points (small physical capacities) or simply Revenue & Brand Strategies (price discrimination across inventories). For these cases, we introduced Inventory Groups.
What should be grouped into an Inventory Group?
As mentioned above, we believe you can achieve the greatest revenue performance when you allow prices for your inventories to be managed independently. This way each room night is optimised based on its performance.
However, if there are certain inventory types with either a very low physical capacity (e.g. a set of suites, a unique room which only exists once...) or there are some inventory types which you don't want to discriminate on price (e.g. a Bed in a Mixed 6-Bed Dorm and Bed in a Female 6-Bed Dorm).
Inventory Groups enables you to make use of FLYR's Pricing whilst considering these constraints.
What impact do Inventory Groups have on FLYR Hospitality pricing?
Once you selected a set of inventory types you would like to group together, FLYR will now analyse all inventories within the group as one collective. Which means: demand patterns across seasons or day of week (DOW) will be analysed collectively, forecasts will be produced for the whole group and prices will be applied in a consistent way across the group.
This will also change how we will display your inventories on the Actions Table. You will now see the Inventory Group displayed on the table and the assigned inventory groups will display as "Children" with their fixed pricing structure. To find out more how you can interact with Inventory Group Prices on the Actions Table, check out our article here. Additionally, following changes like grouping inventory or adjusting price deviations, it is normal for AI prices to temporarily disappear as the system runs a re-optimization process. Allow the system time to complete re-optimization, as prices will typically reappear shortly after. Avoid making further changes during this period to ensure faster resolution.
How to set things up?
We will usually agree on a certain setup during the onboarding. However, if you'd like to change this, you can easily do so from the Actions tab/Strategic Controls/Inventory Setup. After grouping your inventory, ensure that optimization is properly enabled to activate AI-driven pricing for grouped room types. To do this:
Create Your Inventory Group: Organize your inventory into logical groups based on room type or other criteria.
Turn On Optimization: In the grouped inventory settings, enable the optimization feature, allowing the system to apply AI-driven pricing strategies to the grouped inventory.
You can find detailed instructions on how to set up an inventory group from this article. You can also find out how to change the configuration & price supplements of an existing group. For optimal pricing operations after setup, always enable group-level optimization and understand the re-optimization process. Temporary price disappearance may occur, which is resolved as the system applies updated configurations. Ensure no additional modifications are made during re-optimization to minimize delays.