Blog

Discover how the AltoCore technology supports our for Hospitality Partners

Written by Joy Abi Aad | Dec 23, 2024 1:15:07 PM

During The Altos on December 2, AltoVita’s product leaders showcased AltoCore which enables hospitality operators to efficiently respond to client inquiries and with the support of real-time data and analytics make informed decisions that drive success. 

Understanding AltoCore and the Tiering System: A Step-by-Step Guide

AltoCore is a seamless booking and request management platform designed specifically for hospitality operators, providing real-time data analytics and intelligence. The platform enables single and multi-unit operators to showcase their properties to a targeted audience of corporate clients seeking temporary accommodation. 

At The Altos, Julia Kichigina, Senior Product Manager, and Lucinda Hindmarsh - Senior Client Development Manager, walked through AltoCore’s key features, including the bidding flow, data analytics, and the all-important asset quality tiering system that ensures properties are presented in their best light.

AltoCore’s Seamless Integration with AltoOne and AltoCurate

AltoCore is fully API-connected to AltoOne (AltoVita's property and content management platform acting as the central inventory hub) meaning your property inventory available in AltoOne is automatically synced with AltoCore without any need to manually upload information. This integration ensures that your listings in AltoCore are always reflective of what’s available in AltoOne and vice versa, all the changes made in AltoCore will be synced back to AltoOne, simplifying the process and reducing the risk of errors.

The platform is also a part of AltoVerse, making any requests or bookings made through the AltoVita system visible in AltoCore. This seamless connectivity ensures that all the information you need is available in real time, giving you better visibility and control over your booking management processes.

With a strong pilot launch, AltoCore has achieved impressive results, including a customer satisfaction score of 4.97/5 and a 45% conversion rate. 

The audience at the Ham Yard Hotel in London also heard how it reduces administrative burdens, enhances property listings, and improves booking transparency. 

“It's just the beginning for AltoCore. We're not going to rest on our laurels. There are a lot of ideas and improvements and features that are on AltoCore roadmap” - Julia Kichigina, AltoVita

 

Data & Analytics

AltoCore’s data and analytics component is all about providing real-time insights into operations. Whether you’re tracking conversion rates, average daily rates, or booking lengths, this tool makes it easy to monitor your business performance. What’s more, AltoCore gives you a granular view of your data, allowing you to filter by region, city, or even specific properties. You can also view decline reasons and escalation reports, helping you pinpoint areas for improvement.

Property Management

The Property Portfolio block is what makes AltoCore truly stand out. It connects directly to AltoOne, which allows for seamless integration of your inventory without having to manually input property details. This saves valuable time and allows you to quickly submit options for available booking requests. Current AltoCore users experience a 133% improvement in the time needed to submit their options compared to the traditional process. Furthermore, this claim is supported by feedback from hospitality operators who have already joined AltoCore.For new partners, AltoCore provides a user-friendly wizard-style interface to list properties on the platform and efficiently manage them as required.

A Quick Overview of the AltoCore Bidding Flow

Step 1: Housing Request Information

The first step involves viewing housing requests. You can easily filter requests by city (e.g., London) and click on the "view" button to see all the request details. This page will show essential information, such as preferred locations, check-in and check-out dates, property type, and any special requirements.

The initial step entails reviewing the incoming booking requests. Access to a new request is available through three entry points: the email notification, the Home page, or the Requests page. You can conveniently filter requests by city or status, then click on the "View" button to explore all request details. The Housing Request highlights essential information such as the preferred location, check-in and check-out dates, property type, and any specific requirements.

Step 2: Shortlisting Properties

Once you have the housing request details, you can view a filtered list of properties that match the location criteria ordered by the proximity to  the preferred location. By clicking on the “Shortlist” button, you’re able to start adding properties to your submission.

 

AltoCore also offers an auto-fill feature, which automatically populates the form with details from your last submission, reducing the time needed to input basic information. Of course, you can amend any information if needed, such as adjusting cancellation policies or adding special fees.

 

Step 3: Adding Property Details

For each property you want to shortlist, you can input relevant information like price, commission, cancellation policy, and amenities. AltoCore makes it easy by auto-populating the amenities where available, and for missing information, you simply fill in the gaps manually. Once you’ve confirmed all the details, you save the property to your shortlist.

Step 4: Submission and Feedback

After shortlisting the desired properties, the next step is to submit them for review. AltoCore will automatically notify the team that your submission is ready for evaluation. Once they review the options, you’ll be prompted to rate your experience, helping AltoCore gather valuable customer satisfaction data for future improvements.

Leveraging Data and Analytics in AltoCore

AltoCore’s data and analytics functionality provides in-depth insights that help you optimise your performance. From tracking conversion rates to monitoring your total revenue, the platform offers robust reporting tools that allow you to make data-driven decisions.

Key Metrics

Some of the key performance metrics available within the analytics section include:

  • Conversion Rate: How many of your submitted options result in bookings.
  • Average Daily Rate (ADR): The average revenue earned per available room.
  • Booking Length: The average duration of bookings for your properties.
  • Decline Reasons: Why certain properties are not selected, helping you fine-tune your offerings.

Escalation Reporting

Another powerful feature is escalation tracking, which helps you stay on top of critical issues. Escalations are categorised by severity (high, medium, low), allowing you to quickly address urgent matters. Whether it's an emergency issue or a minor concern, the platform helps you monitor resolution times and response times, ensuring timely follow-up on all escalated incidents.

Launching in January 2025, Julia also gave a sneak peek at what her team is working on, with new functionality available from January 2025. 

A new home page will feature various widgets, including requests, bookings, escalations, conversion rate and property portfolio stats. Each of them will be clickable and interactive, and will navigate you to a particular page.You will be able to track all your requests and bookings from a single dashboard, monitor request statuses in real-time and receive instant notifications when immediate action is required.

 

 

It will also be possible to set up a new property in 7 steps. The user will need to add property details like title description, check-in, check out times, amenities, number of bedrooms, bathrooms, rates, and minimum stay duration, among others.

When uploading photos, it is best to provide at least 6 images, but the more the better. The more information the guest has, the easier it is for them to make a swift decision.

 

H2 Asset Quality Tiering System: Gold, Silver, and Bronze

Finally, Lucinda briefly outlined the asset quality tiering system. This system helps operators classify properties into three levels based on a variety of criteria:

  • Gold: The highest tier, representing properties with exceptional quality across all aspects, from room features to customer service.
  • Silver: Properties that meet industry standards but may not offer the same level of excellence as gold-tier properties.
  • Bronze: Basic properties that still meet operational standards but may need improvement in certain areas.

This tiering system is based on categories covering both room and building functionality. The goal is to ensure that all properties listed on AltoCore are reliable, well-maintained, and meet the varying needs of clients across different budgets and regions.

How do we make sure that when someone checks in, we're delivering what we've all promised to deliver? The asset quality tiering will be going beyond any of their partner agreements or partner vetting. There are 87 plus categories looking at both room and building functionality, to make sure that we can continue to click deliver across budgets and clients' needs.” -  Lucinda Hindmarsh, AltoVita

H3 How Does the Tiering System Benefit You?

By utilising the tiering system, AltoCore allows you to:

  • Increase Transparency: With tiered classifications, both property owners and clients can quickly assess the quality of a property.
  • Ensure Consistency: The system ensures that every property, regardless of budget or location, meets certain baseline standards.
  • Meet Client Expectations: By categorising properties, you can match clients with exactly the type of property they’re looking for, improving client satisfaction.