Popular Greek hotel leverages IDeaS’ revenue technology and Advisory Services to enhance its revenue strategies
LONDON—Aug. 25, 2020—One of the “Leading Hotels of the World,” the Belvedere Hotel Mykonos has selected IDeaS G3 Revenue Management System (RMS) to manage, control and maximize data. It also selected Revenue Architect, a revenue performance analysis service conducted by the IDeaS Advisory Services team. By leveraging this service, the hotel will be able to better understand the right revenue opportunities to pursue and how to capitalize on them.
With more than 15 different room types including luxury villas, rooms and suites, two restaurants and a spa, the elite hotel has the potential to maximize revenue beyond the guest room.
- Iconic hotel sees rise in local competition – More than 600 new rooms open in Mykonos nearly every summer, including villas being renovated and turned into small hotels and bigger hotel chains opening in the area. The hotel looks to gain helpful insight from IDeaS G3 RMS to stay ahead of the growing competition.
- The right room at the right price – Because its maximum revenue is generated during a small three-month window, owner Nikolas Ioannidis understands the importance of offering the right room at the right price in order to optimize his hotel’s revenue.
- Taking advantage of deep industry expertise – IDeaS provides a suite of strategic, hands-on services tailored to help each client build more revenue-centric teams and processes. Revenue Architect delivers a strategic blueprint and timeline for initiatives, identifies new and untapped revenue opportunities and prioritizes the execution of high-impact initiatives.
Nikolas Ioannidis, owner, Belvedere Hotel Mykonos, said: “We believe the era where we can fill up rooms at high rates by doing nothing is gone. It’s a competitive market out there, and we must grab every opportunity we can. We can upsell when we can, but when we cannot, we need to stay competitive. This aspect is difficult for humans to manage, and that’s where revenue management technology becomes essential.”
Dr. Ravi Mehrotra, president, founder and chief scientist, IDeaS, said: “We understand what it takes for boutique hotels to remain competitive. It is more important than ever before that hotels of every size begin to take advantage of the deep knowledge and insights our software and services can provide. We welcome Belvedere Hotel Mykonos to the IDeaS family.”
