Automatic computer price tracking, valuation, and negotiation optimization

US11227299B2 · kind B2 · utility

Assignee

• Cvent, inc. · US

Inventors

• Dawei Du · Tysons, US
• Deborah Mitchell · Tysons, US
• Yanchao Feng · Tysons, US
• Yuanyuan Guo · Tysons, US
• Brian Vencil Skarda · Provo, US

Key dates

• Filing date: Dec 27, 2019
• Grant date: Jan 18, 2022
• Expiry date: Apr 6, 2040

Classification

• Technology area (CPC G): Physics
• CPC primary: G06N20/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Provided herein are methods, systems, and non-transitory computer-readable media of providing a predicted rate based on information about the property, the customer, and the amenities that a supplier has proposed. The rate may be based on many factors that can be extracted or derived from the historical bid data, including, but not limited to: location and market tier of the property, length of relationship with the channel (which may be an account or customer), the included amenities, the cancellation policy, the size of the account's or channel's event, the season of the booking, the proximity of the channel's offices of the account or channel to the property. Increased confidence that a customer is getting a fair rate facilitates negotiations between contracting parties.