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COVID-19 has been extremely detrimental to the growth and revenue generation of the travel and hospitality industry. Hoteliers have been burdened with managing their establishments with minimal returns and a reduced workforce, while new health and safety regulations compound these setbacks.
However, as the world slowly returns to normalcy, it is of utmost importance for hotel managers to focus on solutions that improve guest experience, recoup their losses, and further them toward profit optimization. And with many revenue managers overseeing a cluster of a dozen or more hotels, ample control over resources and time is more crucial than ever. Industry leaders need to invest in smart, automated technologies to drive greater operational efficiencies. These solutions will enable hotel leaders and revenue managers to focus more on developing business strategies that enhance profitability and productivity.
Assisting hotel managers in this formidable task of revitalizing their organizations, and the industry as a whole, is Minneapolis-based IDeaS. “We operate where technology and hospitality intersect, delivering sophisticated yet simple revenue management software and advisory services,” mentions Dr Ravi Mehrotra, the President, Founder and Chief Scientist of the company.
We Operate Where Technology And Hospitality Intersect, Delivering Sophisticated Yet Simple Revenue Management Software And Advisory Services
With IDeaS’ revenue solutions, clients are empowered with true demand-based, dynamic-pricing decisions. “The decisions provided at the room type and rate code level by our solutions are aimed at driving optimal revenue performance, and improving efficiency across multiple hotel types and job roles,” says Dr Mehrotra. The company’s superior analytics, powered by its parent company SAS, is the driving force which delivers these reliable decisions that enhance revenue performance and allow for 365-day forecasting of unconstrained demand. Moreover, IDeaS’ advanced automation can efficiently distribute real-time, revenue-enhancing pricing decisions to integrated selling systems.
IDeaS’ expertise in providing bestin- business revenue management solutions can be highlighted from the company’s collaboration with a Hong Kong-based client—Hotel ICON. Three months into the partnership and installing IDeaS G3 RMS, the client saw significant improvement in the performance of the property’s higher-value room categories. Hotel ICON experienced a year-over-year RevPAR growth of 4.51 per cent for its higher-value club and suite rooms, driven by a 7.35 per cent increase in ADR. Having IDeaS’ solution in place, the hotel has been successful in forecasting and pricing its room inventory accurately. A significant improvement in sales has made the client express their will to continue the relationship with IDeaS and thrive further.
Building on similar success stories and holding innovation as the ‘heartbeat’ of the company, team IDeaS will continue to deliver efficient revenue-enhancing technology that can cater to specific requirements of businesses of all sizes. “With the world quickly changing, now is the time to reinvent your hotel, recharge your revenue management operation, and regain your foothold in the hospitality industry,” says Dr Mehrotra. IDeaS has evolved to ensure its solutions do not just solve challenges of today, but also conquer those of the future.