INNOVATORS VS COVID 19
Hotelmize: Using Big Data to Unlock the Hidden Booking Profits
We talked to Dor Krubiner, founder of Hotelmize, about using big data solutions in hotel bookings and this is what he said about it.
First of all, how are you and your family doing in these COVID-19 times?
Dor Krubiner: Thanks for asking. COVID-19 has impacted all of our lives, and despite that, we are staying positive and optimistic. My family and I are doing well. The pandemic did change many things, but my focus remained strong, and we are creating new business opportunities almost every week now, listening to our clients, and keeping an eye on the market.
Tell us about you, your career, and how you founded Hotelmize.
Dor Krubiner: Don’t let it hit you as a surprise – my career started as an investment manager. I worked as an investment manager and as a trader for provided funds and institutional clients. While I was working there, I realized that hotel bookings are similar types of assets as stock market options, and the idea of building an Algo trading company based on this asset class came up immediately. That’s how everything began.
How does Hotelmize innovate?
Dor Krubiner: Hotelmize has invented a new approach to revenue management. Today, most companies who are doing revenue management are focused on the pre-booking cycle and the selling side optimization. At Hotelmize, we are doing something new and different – we are doing post-booking and buy-side revenue management. No other company has done what we do before us. I am proud to say that we invented the category, and that’s just one side of our innovation strategy. We are also utilizing the most advanced technology on the market, such as AI, big data, and machine learning. We developed our room mapping and room matching algorithms and prediction algorithms, thus creating new revenue opportunities for accommodation providers.
How the coronavirus pandemic affects your business, and how are you coping?
Dor Krubiner: COVID-19 pandemic impacted almost every vertical out there, including the hospitality industry. The first couple of months were difficult, but then we reconsolidated and looked at the data. Our focus was on helping our clients. We immediately started working on new solutions to help them stay on top of the post-COVID recovery process. When it comes to Hotelmize, we just completed a series B funding round in March 2020, so the company remained strong.
Did you have to make difficult choices, and what are the lessons learned?
Dor Krubiner: The most valuable lesson I’ve learned is always to have a plan. COVID-19 caught many by surprise. However, we managed to make this an opportunity when scaling our sales operation, and we’ve successfully signed many new clients over the last 12 months. Fortunately, I didn’t have to make any difficult choices. I have a great team of people working side by side on delivering innovative solutions.
How do you deal with stress and anxiety?
Dor Krubiner: Although I’m very committed to my company and my family, I still make sure I have time for sports. My health and general well-being provide me with support to continue my work. Staying physically active was always helpful. I enjoy cycling a lot, as it helps me relieve stress and focus better. A well-balanced diet is also an essential part of my self-care.
Who are your competitors? And how do you plan to stay in the game?
Dor Krubiner: To be honest, we are one of the pioneers in the field, and at the moment, there is no other company that can capitalize on this opportunity as we do. We will continue to use cutting-edge tech to drive innovation and help travel companies generate new revenue streams.
Your final thoughts?
Dor Krubiner: Travel is an integral part of our personal and business life for decades now. I trust that people will return to traveling as soon as governments let them, and when they do, they will come back strong.
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