Loading...

About Client

The client is a leading hotel owner based in India, registered with multiple online hotel booking service providers’ platforms.

Client-Business-Goal

Client's Business Goals

The client needs to determine the optimal rent based on the dynamics of the multiple accommodation booking platforms. The client requires understanding the competitor analysis and different trends in the market based on varied criteria like a number of rooms, beds, bedrooms, washrooms, etc.

Challenges

The client is facing the following challenges while deciding the per day rent for the online hotel booking service providers’ platform. They wanted a software solution that could help them to decide per day hotel room rental prices so that it could attract renters and bring more revenue too.

Hitting the right price for the would-be renters

Balancing between the price not being too low to face lesser revenue or being too high to lose out on potential clients

Judging the possible rate for rooms depending upon the dynamism of the market

Our Solution

Diagnosing the challenges of the client, SPEC INDIA helped the customer by designing and developing a machine learning model that decides the rental price to be put online for bookings. We built the solution to automate their process of getting the best possible rent for rooms, from amongst all those listed, using a technique called ‘k-nearest neighbors (KNN) algorithm’.

A variety of graphical representations are available depending upon different criteria like accommodates, bedrooms, beds, bathrooms, etc. These visuals offer a great deal of clarity in taking the right decisions.

Process flow of solution

- Find a few listings that are similar

- Average the listed price for all those who provide similar services

- Set the listing price to this calculated average price

Supporting variables that play a role in decision making

- Number of bedrooms included in the rental

- Number of bathrooms included in the rental

- Number of beds included in the rental

- Number of guests the rental can accommodate

Target variable

- Right price for the rental

Screens

CS-CTA-1

Looking For Machine Learning Based Solution For Your Project?

Unleash the Potential of Machine Learning. Our Experienced ML Team has worked on diverse projects that demonstrate our excellence in Machine Learning.

Submit Request

Technologies & Tools

Python-Logo
Python
Scikit Learn
Pandas

Our Process

Research-icon
  Research/Analysis

Our detailed and accurate research , analysis, and refinement leads to a comprehensive study that describes the requirements, functions, and roles in a transparent manner.

Design_icon
  Design

We have a team of creative design experts who are apt at producing sleek designs of the system components with modernized layouts.

Code_icon
  Coding

Our programmers are well versed with latest programming languages, tools, and techniques to effectively interpret the analysis and design into code.

Testing
  Testing

Quality is at the helm of our projects. We leave no stone unturned in ensuring superior excellence and assurance in all our solutions and services.

Launch_icon
  Launch

We have a well-defined, robust, and secure launch criteria that offers us a successful implementation clubbed with detailed testing, customer acceptance and satisfaction.

Business Benefits

Best for all rentals who provides their spaces to local hotel service providers

Can be replicated for a taxi rental system in a similar fashion

Offers the best possible rental price for all hotels based on average rates

Copes well with the dynamism of the online marketplace

Attracts more renters, increases profitability and efficiency

CS-CTA-2

Looking For Something Similar?

We have worked with some of the best innovative ideas and brands in the world across industries.

Connect With Us