Tourexpi
LATAM Airlines Group and Sabre Corporation (NASDAQ: SABR),
a leading software and technology provider that powers the global travel
industry, today announced the carrier's adoption of Sabre Air Price IQ™, an
intelligent solution that is part of Sabre's Retail Intelligence suite.
Powered by Sabre Travel AI™ technology, Air Price
IQ allows airlines to generate relevant offers by analyzing an airline's own
shopping and revenue management data in real time along with relevant
marketplace insights. It also enables airlines to bring their own pricing
models and define business rules and strategies to set boundaries for airfare
pricing within the solution, empowering them to turn data and insights into
actionable output.
Air Price IQ can also provide multiple benefits to
airline customers like the optimization of air prices to help drive higher
conversion rates and improved returns by delivering more relevant offers across
different channels as it utilizes artificial intelligence (AI) and advanced
machine learning (ML) models.
"In today's competitive marketplace, it is
crucial to offer travelers a more relevant travel experience. Our partnership
with Sabre can help us bring the right offers to the right travelers at the
right time by using intelligent systems like Air Price IQ," said Rosario
Phillips, vice president of Customer and Commercial Solutions, LATAM Airlines
Group. "The flexibility and scalability of Sabre's solution allows us to
test and learn different pricing strategies, including using our own models,
enabling us to move from static pricing to dynamic price, adapting quickly to
fast-changing market conditions. It's an important step towards the future we
envision for dynamic offers."
Considering customer segmentation and travel
purpose, Air Price IQ supports airlines in their efforts to
provide a seamless experience to its travelers while maximizing revenue
opportunities. This cloud-native, scalable travel technology solution supports
seasonal and time-of-day increases/decreases in shopping requests, allowing
airlines to adjust their prices in real time based on capacity, competition and
traveler context. Air Price IQ helps them improve pricing precision by
analyzing marketplace, pricing and revenue management strategies, as well as
booking velocity.
"LATAM has been a highly engaged partner that
has collaborated in designing and providing feedback to our solution. We are
excited to see the fruits and benefits of this partnership materializing with
their adoption of Air Price IQ, as we share a commitment to innovation. The
airline industry is constantly evolving, and airlines require intelligent
systems to manage increased complexity and channel fragmentation to deliver a
seamless, personalized experience to travelers while improving profitability,"
said Darren Rickey, senior vice president, Global Airline Sales, Sabre
Travel Solutions. "Enabling airlines to dynamically price their airfares
and offers based on the travelers' propensity to purchase, customer profile or
current market conditions is key, and requires intelligent systems that analyze
large volumes of data at scale to deliver actionable insights."
In partnership with Google Cloud, Sabre Travel AI™ provides AI solutions and automated
machine learning tools that sense, analyze and predict consumer behaviors –
using real-time shopping and sophisticated travel-specific business insights.
Its capabilities enable airlines, agencies, corporations, hoteliers and other
travel partners to take their retailing and digital customer experience
strategies to the next level by delivering highly relevant and personalized
content more quickly, to better meet the demands of today's traveler and create
expanded revenue and margin growth opportunities.
Image
Credit: © Sabre Corporation
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