Based on a recent study released by Future Market Insight broadcasted by AutoRentalNews the worlwide car rental market will grow from an estimated 52 billion USD to 106 billion USD in 2020. The FMI report estimates that the global car rental market will therefore more than double in five years. Assuming that the US are currently the oldest and…
How to measure yield management performance in car rental ?
Measuring the performance impact on company’s bottom line when yield management techniques are implemented is a permanent goal. Like Nessie of Loch Ness in the Scottish Highlands, some said that they saw it but nobody can prove it. Fortunately, it is easier to prove great benefit of the Yield Management implementation on your bottom line…
How to reduce human mistake in revenue management
IS IT POSSIBLE TO TAKE EFFICIENT DECISION WHILE BEING UNDER TOO MUCH PRESSURE ? Emmanuel Scuto, CEO of WeYield, expert in car rental optimization Have you ever found a yield manager not stressed? How many of you got a bit of anxiety finalizing his/her capacity optimization of a train segment, for a a peak departure…
Hertz and Ryanair have divorced. What’s next?
The partnership between Hertz and Ryanair stopped on 2 July 2015 after years of strong cooperation. Even though legal term was supposed to end in 2020, Hertz decided to breach the contract following a dispute over Ryanair’s indirect ticket sales. Since years, Hertz with Ryanair but also Europcar with Easyjet, opened their doors to the low…
Rule #5: Select the car groups to be shopped
Setting the appropriate car groups to be shopped depends on the target defined by the Business Analyst as well as the technical constraints brought by the data supplier. Some local data suppliers are present in almost all the markets. However they mostly operate for B-to-C business (rate shops provided to market place or price comparator…
Europcar Porto-Vecchio Figari choisit Rateshaker
WEYIELD ET SON APPLICATION RATESHAKER A ÉTÉ RETENUE PAR EUROPCAR PORTO-VECCHIO Le franchisé du réseau Europcar France situé en Corse du Sud a décidé l’appliation web d’analyse de la veille tarifaire Rateshaker fournit par la société de conseil WeYield. Cette solution innovante permet d’agréger un volume très important de tarifs collectés sur les différents canaux de…
Sixt Réunion selects Rateshaker
RATESHAKER, RATE SHOP ANALYZER, HAS BEEN CHOSEN BY RM TEAM OF SIXT LA REUNION WeYield, Revenue Management Services for Car Rental industry has the pleasure to announce that Sixt La Reunion has implemented RateSharker, rate shop analyzer web application. “The market watch is an important part of our yield job to track pricing actions of our competitors but…
Rule #4: Define the appropriate schedule to run the query
After the previous rules, another key element is : over what period of time should the user run the queries? This parameter is directly linked to their booking pattern by arrival dates and their advance booking. Anticipe the furthest possible the market watch to get alerted as ealy as possible. If most of the reservations are…
Hotels get more liberty from OTA booking.com contraints. When car rental operators will do the same ?
The victory is not for now but a battle has been won by the European Hotel industry (as least in France, Italy and Sweden) agains the domination of Booking.com. As of 1st July 2015, hoteliers will not be forced to guarantee rate parity to this OTA any longer.
Rule #2: To get an efficient rate shop in car rental: Follow the “20/80”
Moving from a manual and time consuming market rate shop to an automatic one generate a big oxygen breath. All time spent by your business analyst to canvas all rates from so many web sites (.com, brokers and OTA’s) is now allocated to data analysis and pricing action. However, the mistake to avoid is to…
Rule #3: Fine tune rental duration and day-of-week
There is no efficient rate shop without a proper configuration of rental duration and a smart choice of day-of-week. To select them, you must analyze precisely your volume of business by departure day and rental duration both split by season (low, medium and high season) and by period (business or leisure). Do not forget to…
5 rules to get an efficient rate shop in car rental: Rule #1
RULE #1 : CHOOSE THE RIGHT COMPETITORS NOT BASED ON KNOWLEDGE BUT ON YOUR OWN METRICS Tracking a competitor is more than simply collecting the rates of all your competitors located on the same market. Over the past 10-year development of electronic distribution, intermediaries (ie Brokers) became important operators to be tracked and configured in…
