SNOWVATION ANNOUNCES TEMPS, AN AI POWERED PRICING PLATFORM FOR ACTIVITIES
DENVER, CO - May 8, 2018 -- Snowvation, a leading activity e-commerce and management platform for the mountain industry, today announced Temps, the industry’s first artificial intelligence powered pricing platform for resort activities.
Utilizing artificial intelligence (AI) and machine learning with data collected from Snowvation’s rapidly growing list of partner resorts across the globe, Temps will enable resorts to drive revenue growth in new departments. Resort products like lift tickets and lodging have long been priced dynamically to maximize revenue, but activities like ski & snowboard lessons have remained static. Weighing factors like remaining capacity, time of day, historical demand, price elasticity, and a wealth of other data points, Temps will empower resorts and ski schools to take a step beyond ticket and lodging pricing management to maximize capacities and sales.
“Pricing in ski school and other resort activities has remained static while other lines of business have gone dynamic, enabling resorts to drive revenue growth. With the tens of thousands of monthly transactions flowing through Snowvation, our platform will leverage the vast pool of data we collect to maximize ski school revenue and capacity for our partners, and to gain insights into guest purchasing behavior” said Michael Stocker, CEO at Snowvation. “Of equal, if not more importance, ski schools may now be able to open up lessons and activities to a more diverse socioeconomic demographic. Cost is often cited as a main barrier to taking a lesson, and with Temps, our partners will be able to drive revenue growth with smart pricing, while also opening opportunities for new consumers to purchase activities at sometimes lower costs.”
With Temps, ski schools will not only be able to drive revenue growth and bring in a more diverse segment of consumers, they will also be able to use staff more efficiently. With smart pricing management and machine learning to constantly improve the platform’s accuracy, ski schools will be better able to forecast staffing needs to maximize instructor utilization.
“At Snowvation, one of our core principles is to constantly take actionable feedback from our partner resorts of all sizes. As we continued to hear requests from ski school leaders to find ways to better manage staff utilization and margins, we began to realize that pricing in resort activities like ski school needed an overhaul” added Jake Luster, Product Manager at Snowvation.
Temps will also enable partners to price lift tickets and other non-lodging products dynamically, and to have the accuracy of pricing predictions increased over time through machine learning. Temps will be released in the coming weeks and included in the platform optionally to all Snowvation partners for the 2018-2019 Winter season.