Event managers can easily plan, manage and price function space using dynamic data and visual analysis solutions
MINNEAPOLIS – March 28, 2017 – On March 3, 2017, IDeaS Revenue Solutions acquired the business assets of Smart Space Strategy Limited. Smart Space pioneered a cloud-based, visual strategy management solution that helps companies analyze the business trends and performance of meeting and event space within hotels and conference center venues.
By combining Smart Space with IDeaS’ suite of hotel revenue management solutions, IDeaS will continue to bridge the roles of revenue management and function space sales and marketing, signaling the growing need for technology solution providers to equip hotels with a more holistic approach to a combined sales and revenue management strategy.
“By combining our revenue management expertise with a function space sales and strategy-focused application like Smart Space, we can help our clients sell, market and manage meeting spaces with more precision and detail than ever before,” said Sanjay Nagalia, chief operating officer for IDeaS. “This acquisition represents an incredible opportunity to blend traditionally siloed roles and will help integrate revenue management into the events business. We’re thrilled to welcome the Smart Space family to IDeaS.”
Function Space Revenue Opportunities
Global spending on meetings and events continues to rise, and the need for hotel and event managers to understand the impact of group business is critical. Smart Space creates a firm connection between revenue managers and event sales managers by providing visibility into meeting and event demand in a powerful web-based tool. It seamlessly pulls data from other sales tools to strategically manage meetings and event functions, allowing hoteliers to collaborate and create ideal pricing scenarios for group business.
Additional Information
Headquartered in London, Smart Space was founded in 2015 and presently all current team members will transition to IDeaS. Terms of the transaction are not being disclosed. All existing Smart Space client agreements will transition to IDeaS and be honored under their current terms and conditions.
Click here for more information about Smart Space.
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