About Terrace Bay Hotel
Located on the northern shores of Lake Michigan, Terrace Bay Hotel offers 117 spacious rooms and suites, making it a perfect weekend getaway and a sought-after wedding venue.Guests can enjoy various activities on or around the lake and explore the Upper Peninsula’s stunning natural attractions.
"Our partnership with both Atomize and Mews has been a huge part of our growth and success story, so we are happy to share it!"
Implementing automated revenue management
Challenge
Manually managing revenue-related tasks, including monitoring the competitive set, reporting and updating rates, was time-consuming and often led to missed revenue opportunities.
Solution
In January 2021, Terrace Bay Hotel implemented Atomize – an AI-powered revenue management software designed for hotels.The system analyzes the market and evaluates demand and pick-up to optimize rates in real-time, automating manual tasks and ensuring prices align with the latest market developments.
Result
• Automation has freed up significant time, allowing the team to focus on other important work
• The system optimizes room category pricing based on demand, adjusting supplements automatically to maximize revenue
Embracing full automation
Initially, the team manually approved each rate suggestion from Atomize.However, due to consistent satisfaction with the algorithm, they switched to Autopilot mode.
Now, prices are optimizedindependently, ensuring rooms are always sold at the best price and further increasing operational efficiency.The system analyzes pick-up and demand by room type, automatically adjusting rates in real-time.This dynamic pricing strategy has contributed to increased room revenue.
Looking ahead
By embracing technology and automation, Terrace Bay Hotel has enhanced its revenue management strategy, leading to significant increases in revenue and operational efficiency.
“Going on full autopilot proved to be a fantastic choice, especially in the busy summer season. That’s when the demand is most dynamic and there are the most changes. But during those months we also have less time to check and approve rate suggestions because we’re so busy with operations. Atomize on autopilot is the perfect solution.”