The cloud-native solution will allow the carrier to generate relevant offers by analyzing its own data in real time along with actionable marketplace insights.
SOUTHLAKE, TEXAS – LATAM Airlines Group and Sabre Corporation, a leading software and technology provider that powers the global travel industry, announced the carrier’s adoption of Sabre Air Price IQTM, an intelligent solution that is part of Sabre’s Retail Intelligence suite.
Powered by Sabre Travel AITM 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 AITM 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.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
