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Julie Flores - COO at RateHighway

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Julie Flores
COO at RateHighway

Episode description

Welcome to another episode of our podcast, hosted by Emmanuel Scuto, the CEO and founder of WeYield, the leading revenue management company specializing in the car rental industry.
Join us in this episode as we delve into the intricate world of pricing automation with Julie Flores, co-founder and COO of Rate Highway, a company at the forefront of pricing automation for the last 22 years.

Key Insights from this Episode:

Rate Highway's Role in Pricing Automation: Since its inception in 1999, Rate Highway has revolutionized the car rental industry by introducing software as a service, which has greatly enhanced accessibility and ease of maintenance.

Understanding Market Dynamics: Julie discusses how the continuous monitoring of rates is essential due to the dynamic nature of pricing in the car rental industry, especially with the contrasting simplicity in Europe and complexity with brokers.

The Importance of Automated Updates: Automated pricing updates are crucial for easing manual management and enhancing revenue through proactive analysis.

Successful Revenue Management: The strategy behind Rate Highway’s success can be encapsulated in the '3C's': collection, comparison, and correction. Julie emphasizes the importance of prioritizing data refinement to optimize daily operations.

Strategic Pricing Implementation: Starting with a simple strategy and progressively integrating advanced features is advisable. Even minimal time commitments towards pricing optimization can lead to substantial financial returns. Simplifying tactics and setting clear objectives are vital for staying profitable, especially with the advent of AI-driven pricing tools.

Explore the strategies that have kept Rate Highway at the top of the pricing automation game and gain insights into the future of technology in pricing within the car rental industry in this informative episode.

📌 Here's a glimpse into the enriching discussion:

  • 0:00:00 to 0:08:00 Introduction of Julie Flores
  • 0:06:20 to 0:09:20 History of Rate Highway started 1999
  • 0:09:20 to 0:18:05 Comparison between US and Europe way of managing their price
  • 0:18:05 to 0:22:45 Why using automatic rate updating system
  • 0:22:45 to 0:30:35 How does Rate Monitor work
  • 0:30:35 to 0:42:40 Start simple for a successful pricing strategy
  • 0:42:40 to 0:56:40 Avoid these pitfalls
  • 0:56:40 to 1:01:05 AI and machine learning in automatic pricing
  • 1:01:05 to end Wrap-up and future insights.
Julie Flores
COO at RateHighway

Meet our guest

Julie Flores

COO at RateHighway

Julie Flores, Co-Founder and Vice President of Operations at RateHighway, Inc., has been at the forefront of revolutionizing car rental pricing optimization and automation since the company's inception in 2002. With a professional history that extends over two decades within the travel industry, Julie's focus has been on advancing revenue management. Her journey began in hotel revenue management over 25 years ago, leading her to specialize in the car rental market for the past 21 years.

Emmanuel Scuto
CEO of WeYield & Podcaster

🎙️ As the host of The Revenue Machine podcast, I am passionate about transforming the car rental industry through Yield, Revenue Management, and new technologies. Entrepreneur since 2007, I founded WeYield to empower and, more importantly, to provide greater freedom to all entrepreneurs and professionals in the Mobility sector.

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