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METHOD AND SYSTEM FOR DETERMINATION OF PRICING OF AN ACCOMMODATION FACILITY

  • US 20200134746A1
  • Filed: 04/30/2019
  • Published: 04/30/2020
  • Est. Priority Date: 10/30/2018
  • Status: Active Application
First Claim
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1. A computer-implemented method for determining price of an accommodation facility to optimize revenue generated by the accommodation facility, the computer-implemented method comprising:

  • fetching, at an accommodation facility pricing system with a processor, a first historical data associated with the accommodation facility, wherein the first historical data is fetched from a first region of a geographical region, wherein the first historical data is fetched from a plurality of sources;

    obtaining, at the accommodation facility pricing system with the processor, a first seasonality data associated with the accommodation facility, wherein the first seasonality data is obtained from a second region of the geographical region, wherein the first seasonality data is obtained from the plurality of sources;

    receiving, at the accommodation facility pricing system with the processor, a clickstream data associated with the accommodation facility, wherein the clickstream data is received from the plurality of sources;

    collecting, at the accommodation facility pricing system with the processor, a first set of data associated with the accommodation facility, wherein the first set of data is collected from the plurality of sources;

    obtaining, at the accommodation facility pricing system with the processor, a second set of data associated with one or more accommodation facilities similar to the accommodation facility, wherein the second set of data is obtained from a third region of the geographical region, wherein the second set of data is obtained from the plurality of sources;

    extracting, at the accommodation facility pricing system with the processor, a competitor data from the obtained second set of data associated with the one or more accommodation facilities similar to the accommodation facility, wherein the competitor data comprises a second historical data, a second seasonality data, a pricing data and miscellaneous data associated with the one or more accommodation facilities similar to the accommodation facility; and

    a signal generator circuitry embedded inside a computing device hosting the accommodation facility pricing system with the processor, wherein the signal generator circuitry generates a signal for determining an optimal price of the accommodation facility based on the fetched first historical data, the obtained first seasonality data, the received clickstream data, the collected first set of data and the extracted competitor data from the second set of data, wherein the determination is done in real-time.

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