Hotel Technology is one of the growing segments in the hospitality industry. AxisRooms, a hotel tech platform which has built its own products, established a distribution product to overcome the difficulty of managing inventory. The thought was to automate the entire back-end process which was human intensive requiring manual fulfilment including calling hotels and managing emails for confirmations. OTA only used to contribute a single digit business to these hotels in 2011. Similar to GDS in airlines, AxisRooms came up with the idea of common pool inventory and real-time distribution for hotels business. With single suite solution for all tech requirements, the company is also assisting independent hotels to compete with a better technology against leading hotel chains who have either subscribed to an international tech solution or spent million for in-house tech platform.
Manish Joshi from NewsBarons provides excerpts of an interaction with Anil Kumar Prasanna, Co-founder & CEO AxisRooms who informs ‘The idea was to innovate & assist hotel partners to manage their business, distribution and revenue optimization through technology’.
NB. What are the solutions that you provide for the hospitality industry?
Anil: Being a part of the system, we understood the pains and difficulties of managing a hospitality venture. We brought our learnings and experience and formed a product that helped our partners to manage business, distribution and optimize revenue through our technology. One of the most important USP of AxisRooms is it is single suite solution for all the tech requirements hotel has.
We have Booking Engine for direct bookings on the website, Channel Manager to manage and distribute inventory and pricing to all OTA’s. RateShopper for competition analysis, rate parity and ranking in OTA’s, CRS a lighter version of PMS organizing and managing the complete repository of inventory and reservations, Revenue Management System to manage optimized pricing and yield management, Business Travel Services is also another USP of alternative distribution where AxisRooms enables all offline booking with a platform to manage the business from Travel Agents, Tour Operators & Corporate.
NB: This is a highly competitive space? Tell us about the key challenges?
Anil: Our USP lies in the key differentiation that most of our competitors have just one or two products under their umbrella. We, on the other hand, provide a whole suite advanced technology platform that helps hotels get a 360-degree view of their business, distribution and revenue management.
We have also got a great technology & support team who has been the backbone for our growth and success.
NB: How are you planning to tap medium-size businesses with the significantly lower digital footprint?
Anil: Our platform is the business enabler and with our advanced technology integrations with many OTA’s, we have helped many accommodation aggregation start-ups to increase their presence. We are a premium supply partner for Booking.com, Expedia & Go-MMT amongst others and we one of the earliest partners for Airbnb. The benefits our platform provides is large and a necessity for modern hotel or accommodation partner.
Our hotel partners have increased their business from minimal 10% to 300% using our platforms and we cater from a small B&B to the large 5-star hotels.
NB: What are your fundraising plans?
Anil: We are optimistic about operational break-even by the end of this year. Hopefully, we will raise growth fund once we achieve break even.
NB: What is your current reach and expansion plans?
Anil: We are enhancing our AI and Machine Learning abilities for our existing products. We would like to be market leaders in Asia for the space we are in. We have been leading in India also have good traction in Bhutan, UAE, Thailand & Sri Lanka.
We hope to be innovators for the technology verticals in the hospitality industry and also plan to have more than 20,000 hotel partners in Asian Region.