Revenue management
We are a game-changing revenue management company founded in 2018. Rate Republic works with a deep-end and holisitic methodology. Our focus is on implementing innovative, out-of-the-box revenue management strategy while offering day-to-day pricing methods for our clients. Our know-how is based on algorithm and business intelligence brought from the area of investment banking, corporate finance and we also have expertise from hotel management.
The pillar of our operations is setting up and maintaining a reactive revenue management model based on constant and sophisticated forecasting of market demand, targeting tailor-made campaigns and applying different marketing tools. We believe, there is nothing more important in this job than the basic demand-supply curve of economics. The basic idea is not rocket science however the implementation is not an easy pie. Our main input is the more accurate and detailed measuring of market movements and our output is the actual price. Our everyday motto is: the market is always right.
We are working with hotels, hostels, apartments, guesthouses and also campsites. By experience Rate Republic can increase the revenue of every type of accommodations - not rarely - already in the starting few weeks. The elevation in the dynamics of incoming bookings is visible from day one.
Today, tomorrow no matter what time frame, we deeply believe in permanent innovation. In order to enhance our knowledge we have entered into a cooperation agreement with the Department of Operational Research and Actuarial Sciences at Corvinus University of Budapest. In addition, we are working on our own revenue management system (RMS) within a strategic agreement with a software development company.
How we work
Dynamic pricing used to be a competitive edge, now it is a standard requirement for a profitable accommodation. One needs to know the past, predict the future and understand the present in order to be able to sell the “right product, to the right client, at the right moment, at the right price”. This is what is called revenue management.
Effective revenue management is immensely beneficial to all properties, whether new or already existing. While it can skyrocket the profit of a brand-new establishment and thus help to place themselves in a much stronger position in the market, it can also help to improve or solidify said position of veteran properties the same way.
Our services range from data analysis to day-to-day operating tasks regarding a property, ranging from creating accurate demand forecasts to setting up and implementing pricing strategies that makes the most of your establishment’s potential. From market segmentation, through demand forecasts to the implementation of pricing strategies and handling your OTA platforms, our goal is to help you reach your financial goals.
Market segmentation is a crucial first step in finding the right price strategy for your property. You must know exactly who are your competitors, that are targeting the same customers, and selling the same or similar product to them. Not only that, you will need to be constantly aware of what they are doing. This is where we come in, and gather all the information for you.
Demand forecasts are the other peace of this puzzle. If someone can accurately predict how guests will behave in the coming months or year, you have a great competitive edge on the market. This is another area you can count on us, for we can deliver this edge to you on a silver platter.
About us
Our team was formed in 2018, with the purpose of creating and implementing an innovative online sales strategy. Our focus is on both the continuous improvement of pricing methods and day-to day communication with clients. Our expertise stems from experience not only in the area of investment banking and corporate finance, but also hospitality.
Viktor Founder and revenue manager of Rate Republic, previously investment analyst of KBC Equitas, founder/manager of various Budapest hostels and former vice president of the Hungarian Youth Hostel Association. He is frequently holding lectures on dynamic pricing and revenue management at Corvinus University of Budapest.
Andris Founder and revenue manager of Rate Republic, previously economic journalist at the online newspaper Index.hu, and later on investment analyst at Concorde Ertekpapir Ltd. He is the founder of Flow Hostel, but was involved in the foundation of many other accommodations in Budapest as project manager. He is also founder of the online marketing agency Mojo Adwise.
Kristóf Founder and sales manager of Rate Republic, owner of the Maverick Lodges and Fat Mama restaurants, and also the current president of the Hungarian Youth Hostel Association.
Geri Analyst and junior revenue manager at Rate Republic. He is responsible for daily detailed analyses and handles pricing for many accommodations. He has been working at Rate Republic since the very beginning.
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Testimonials
Building and caring for our clients, meeting new challenges is what we love most. Regarding managed turnover, we exceeded the 3,5 million Euro mark in our first year. Since than Rate Republic has achieved a range of 15 to 60 per cent increase in the clients’ annual turnover.
The Hive Party Hostel
In the first year of our partnership, Rate Republic helped us reach record numbers. By taking over the general revenue management of our total capacity, they did not only solidify our market position, with the 20 per cent yearly increase they launched us into the forefront.
Jakus - owner
Heritage Home Apartments
We have been working together with Andras for a while now. Since then, our average daily rate shows a steady and continuous rise. Their pricing strategies are not only effective but they are able to react and adapt quickly to any change in the market. We are very satisified with their work and hope we will have a long and prosperous future together.
Zsuzsi - owner
Lupa Camping
We have been collaborating with Rate Republic since the very beginning, and the results exceeded our wildest expectations. We have been working together with Viktor, who has put his expertise to good use.
Our grand opening was very successful, and it was a start from which we managed to growing continuously.
They took charge of day-to-day Revenue Management tasks, and they proved to be a very responsive partner. Their pricing strategies and technical expertise were great help in positioning ourselves as one of the biggest competitors in our market.
Attila - owner
Unity Hostel @ Udvarom
Our partnership started in our 4th business year, in which we managed to increase our revenue like never before. We experienced a 42% increase since we have worked together thus establishing a stable position in the very competitive market that is the world of Budapest Hostels. We hope that our partnership will carry on in the foreseeable future.
Árpád - owner
Kosbor Guesthouse
Rate Republic turned out to be a very flexible and responsive partner. They are always quick to react
to every change in every area thanks to thorough analysis of the market. We were very happy, with
their cooperation our turnover could be elevated spectacularly and we could always count on their
help in various questions.
Ágnes - owner
Contact
Mobile: 00 36 70 322 54 36
