It's your venue, it's your pricing,
it's your choice.

Be inspired by MiceRate and transform your previous MICE sales process into a future-oriented one. 

Owe to numerous individual setting options provided by MiceRate you will be able to illustrate an individual pricing strategy and take control of your capacity management. 

– aiming to increase profit in long-term.

1st

Inquiry Rating

Evaluate incoming event requests in terms of their revenue potential and take it into consideration when it comes to calculating the price.

2nd

Package Rate Availability

Summer rate specials or advanced-purchase rates are for hotel rooms only? Why? Make it a matter of MICE sales, too. Define availability and individual conditions for meeting and event packages.

3rd

Article-Yielding

Dynamizing rates for meeting and event packages may not always be sufficient. Regulate product and service prices more individually and define quantity-depending alignments.

4th

Minimum and maximum occupancies

A 3-course menu for dinner should only be bookable from 20 people or more to be profitable? Determine the minimum and maximum amount for services, products and items in order to offer the right according to your restriction management.

5th

Dynamic Function Space Charge

Put an end to static function space charge and exploit its scope of flexibility. Define individually minimum turnovers per space. The lack of revenue potential of an inquiry can be replenished by dynamic room charge. In consequence, you will be able to offer large capacities for just a few people – at the right price.

6th

Daily Rates

Maximum degree of price flexibility

Take advantage of MiceRates price algorithm which compares historical data with current booking patterns. Depending on demand level it will put forward suggestions and align prices automatically. You may overwrite its suggestions as well.

FAQs

...have a look at our frequently asked questions!

You can (finally) implement flexible pricing in your event sector. One or the other may have been playing with this strategic idea for a while and wondered until now how to implement it. Others may now be asking themselves: Do I need flexible pricing for meetings? Sure, just have a look.

With the help of our tool you can dynamize your prices and make them as flexible as you want them to be: from using a few pricing mechanisms to daily rates – everything is possible among this spectrum. Going forward you won’t have to worry about the calculation, because MiceRate calculates live within every request.

We are a bit proud of the fast that we’re currently the only team that can even provide you with daily rates for events with help of our algorithm. By the way, our algorithm isn’t screw up by price-confusing events …. like a pandemic. The structure of the data in the background makes it possible.

As for the strategic side: We are also happy to advise you if you have little experience with flexible pricing or if you want to implement your ideas step by step. You are welcome to exchange ideas with us without obligation.

Did you know that MiceRate is also ideally suited for the sales of co-working spaces?

So far we have the possibility to connect with Oracle Fidelio Suite 8, Bankett-Profi and EventTemple. We’re currently building up an interface with SiHot, Opera (Cloud) and Ibelsa. In addition to that, we aim to connect with Protel. We are looking forward to working with these partners soon, so maybe your PMS will soon be included in that list.

In general, we are open minded to build up interfaces with more providers in order to maximize the value for all users.

You don’t like to wait for your PMS to be connected? Your hotel doesn’t manage event capacities with a sales & catering module? Indeed, you’re able to implement flexible pricing, automated calculation and generate quotations automatically without a sales & catering module of your PMS.

The “Atrium Hotel” in Mainz, for example, already works successfully with flexible prices – and wouldn’t like to change a thing about it. Download the case study and learn more about their experience with flexible pricing.

So far, we are one of the rare companies offering a yield management tool in the event sector. What has been normal for rooms for a long time, is only just becoming widespread for events.

However, you can take advantage from our practical experience in this field. Our tool was developed and approved right in the event office. Behind the considerations regarding MiceRate’s functions as the pricing mechanisms and the algorithm is practical knowledge and not just theory.

Sometimes, we are really deep in the matter, … that’s why we once have changed our perspective: What are the hurdle points on the way to flexible pricing in the MICE sector?

You can use MiceRate’s booking engine for internal sales and/or offer your customers to create their quotation conveniently online – so they don’t have to wait for someone to call them back or answer their e-mail… what doesn’t mean you’re out of personal contact.

But the real purpose of booking automation is as follows: You should definitely take your customers along with you on the whole topic. This can only be done with transparency and the right communication. When using the booking engine, your customers can see at a glance which particular dates are in high demand. In contrast, they get an overview on which dates they can benefit from a price advantage. Transparency increases the acceptance of dynamic prices and supports your capacity control by gaining customers for dates of low demand.

If you want to make your event prices more flexible, you can’t avoid some degree of standardization and automation…. At latest when you’re explaining the amount of brilliant ideas regarding flexible pricing to your employees, you’ll know what we mean.

Willst du deine Tagungspreise flexibilisieren, kommst du nicht um einen gewissen Grad an Standardisierung und Automatisierung umher… Das wirst du merken, wenn du deinen Mitarbeitenden im Veranstaltungsbüro deinen 4. genialen Einfall zu Preiseinflussfaktoren erklären willst – spätestens dann schaust du in fragende Gesichter.

No, we don’t have revenue manager who is updating the rates. That would only waste space in the office that we need for Oskar*. 😉 *our much-loved dog in the office.

If you want to achieve the maximum of flexibility – daily updated  rates – you can confidently leave the effort to our system: The RateFinder analyses historical data and fixes the anchor rates for its “counterpart”, the RateManager that compares the current booking patterns with the RateFinder’s suggestions. The RateManager is in charge of adjusting and controlling your daily rates.

Of course, despite all the automation in the yielding process, you can also manually adjust rates if you want to. Please be aware of the fact that both of these functions need a sound data basis.

Are you collecting UNC-data in your venue, yet?

Hm… Fixed rates in the context of Dynamic Pricing…?

… alright, we know it ourselves. Some companies heavily insist on their fixed rates. You can offer fixed rates which are not yielded by the system by deposing them at the internal Assistant function. It will soon be possible to access local company rates by using a code which you can provide your customers with.

Did you ever heard of the concept to offer Floating Company Rates? Your local company customers can also take advantage of the dynamic rates. Learn more about floating company rates in our wiki. Pay attention to the communication with your customers as they recognize the advantages of FCR.

In long-term, your customers may use MiceRate as a booking or inquiry medium on your homepage. But let’s start with the first steps. The internal use of MiceRate depends on your team and your company structure. You don’t need to hire a revenue manager to implement Dynamic Pricing and capacity management.

The pricing strategy is usually a matter decided by the management or the sales team. You can deposit pricing rules and/or use the algorithm, if you like to. MiceRate provides you with essential key figures in order to control the success of your strategy on a regular basis.

The employees in event office operate more practically than strategically with MiceRate, e.g. they use the Inquiry Assistant function for creating and adjusting quotations which are calculated automatically according to the pricing rules. MiceRate is meant to relieve your employees during the sales process.

Dynamic Pricing

Rate Manager

Enter your individual price factors such as minimum booking volume, minimum occupancy, minimum space rental. Take the first steps towards individually calculated event prices.

Rate Finder

Use MiceRate's algorithm to calculate daily rates automatically based on historical data and current booking patterns. At the backend you are provided with a dashboard to track rate changes and the option to manually adjust rates.

YIELD MANAGEMENT

Rate Manager

Individual prices, tailored to your venue. Determine which factors should have an influence on your prices.

During the Yield Management and Dynamic Pricing workshop we create jointly a basis for your successful Yield Management and Dynamic Pricing practice.

We accompany you on the way to dynamic event prices and jointly create an individual rate concept customized to your venue.

YIELD MANAGEMENT

Workshop

YIELD MANAGEMENT

Rate Finder

Set your daily rates manually by using the Rate Finder. You receive daily updated rates based on key figures. Or just let the algorithm do your pricing automatically.

MiceRate's Algorithm

Expected demand is forecasted on the basis of historical data from the PMS, combined with the demand which has been received to day as well as with current booking patterns. Different demand levels are reflected in pricing suggestions.