Toronto, Canada – May 16th 2023 – Book4Time was awarded the ISPA Innovate Award this year for its advanced Yield Management & Dynamic Pricing capabilities. This award comes as revenue management continues to be a hot topic throughout the hospitality, spa and wellness industries.
Airlines and hotels have been using yield management practices for over 30 years. These industries have seen major success in their revenue management strategies by adjusting prices based on demand, and it’s time to let the other areas of the hospitality industry shine, and Book4Time is helping them to do so.
Over the past year Book4Time has seen an increase in clients using at least one type of yield rule, and now over 25% of our clients are using some type of yield scheduling in their operations, increasing revenues by 5-12% this types of success is unheard of in the spa software categories.
“Don’t be afraid to get your toes wet, and start out small,” Debra Myers, Director of Spa & Wellness at Mandarin Oriental said on a revenue management panel at ISPA. Her feedback on yield management practices & demand generation pricing was spot on and nothing less than inspiring.
Helping clients grow their business by way of innovation and industry leading tools & products has made Book4Time a two time ISPA Innovate Award Winner. The face to face interactions that ISPA provides each and every year gives the Book4Time team a chance to gain valuable feedback from clients and prospective buyers alike, which helps our team to diagnose major pain points in the industry and simultaneously allows us to enhance current solutions and build better ones.
There were a lot of great moments for Book4Time and all of the leaders in the spa and wellness industry at this year’s ISPA 2023 expo and we cannot wait to do it all over again in 2024! Until then, check out a short recap video of all of the smiling faces at our booth!
