HOME-GROWN TECH COULD HAVE PREVENTED GAMES TOURISM FAIL
World first technology pioneered in Queensland could have maximised occupancy for Gold Coast accommodation providers during what’s turned out to be a disappointing Commonwealth Games.
Visitor numbers have fallen dramatically short of what was hoped and expected for the event, but it could have been a much better news story for tourism operators if they had used technology developed on their own patch.
Southport-based technology company AutoYield has led the world in the creation and enhancement of dynamic variable pricing, designed to maximise yield across a range of industries by processing real time supply and demand.
CEO Martin McConnachie said a failure of tourism authorities to embrace dynamic variable pricing meant potential customers were scared away by what they considered to be overpriced accommodation.
“If the price of rooms had been dynamically adjusted to reflect minute-by-minute supply and demand – everyone stood to win,” Mr McConnachie said.
“But sadly, there are no gold medals to be handed out for embracing Australia’s very own innovation for building yield to its highest possible levels.
Mr McConnachie was responding to the concerns of Federal Tourism Minister Steven Ciobo over Commonwealth Games visitor numbers, and the impact that is having on local businesses, revealed in the Gold Coast Bulletin
“There’s been a lot of sun shining during the games but unfortunately not much “hay” has been made as thousands of rooms sit empty, along with the restaurants that should also have been thriving on the back of big visitor numbers,” Mr McConnachie said.
AutoYield’s cloud-based software allows smaller operators to compete with the major chains.
The technology, already used by Allotz.com, is set and forget – detecting either a shortage or excess of beds, before adjusting the tariff in real time to reflect actual demand.
Accommodation managers set the parameters for the highest and lowest prices – and the market forces determine the right price for the right time.
Inquiries Adam Walters 0419 997372