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Revenue Strategies
Staycity Aparthotels Implements IDeaS Optix With Immediate Operational and Commercial Gains
IDeaS | November 10, 2021
IDeaS delivers greater efficiency and clarity to Staycity’s cluster revenue management approach LONDON — November 10, 2021 — IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today that Staycity Aparthotels has implemented IDeaS Optix™—an advanced reporting and analysis module for IDeaS G3 Revenue Management System (RMS)—at over 20 of its properties across Europe. Having used IDeaS to optimize revenue since 2014, Staycity will now leverage Optix to provide greater granularity at an enterprise level as it emerges post-pandemic with the industry’s most customizabl...
IDeaS Introduces First-Ever RMS-User Credentialing With G3 RMS Essentials Certification
IDeaS | October 27, 2021
Certification exam tests candidate competence to set up, manage and optimize revenue with IDeaS G3 RMS MINNEAPOLIS—Oct. 27, 2021—IDeaS Revenue Solutions, the world’s leading provider of automated revenue management software and services, has launched the hospitality industry’s first revenue management system (RMS)-user competency program with the IDeaS G3 RMS Essentials Certification. IDeaS partnered with its parent company, the SAS Institute, along with Pearson VUE, Alpine Testing Solutions and Credly to provide a global, verifiable approach to proctoring exams and awarding certification to passing individuals. • Maximize ...
Radisson Hotel Group Implements IDeaS RevPlan Across EMEA for Automated Forecasting Precision
IDeaS | October 13, 2021
147 Radisson Hotel Group properties invest in new technology to drive significant time savings and organizational alignment LONDON—Oct. 13, 2021—IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today that Radisson Hotel Group has implemented IDeaS RevPlan™ across 147 hotels of its EMEA-region portfolio, and counting. Released by IDeaS in 2020, RevPlan is a standalone, cloud-based solution built to complement its flagship RMS products. RevPlan takes the pain out of budgeting and forecasting a hotel’s total business, including food and beverage outlets. • Automa...
Knowland Reports Continued Double-Digit Growth as Group Demand Returns
Knowland | October 6, 2021
U.S. Meetings and Events Volume Up 17.2 Percent for September 2021 ARLINGTON, Va. — Oct. 6, 2021— Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released its monthly meetings and events data for September. The numbers reveal that September U.S. group meetings volume increased 17.2 percent over August 2021. Double-digit growth continues as group demand returns. New metric levels are emerging which may be a result of short-term adjustments during this transitional period or the signaling of a reset of industry KPIs. • Average attendees hit highest number since ...
IDeaS Introduces Profit Optimization for G3 RMS, Enabling Holistic Guest Value Maximization
IDeaS | September 29, 2021
Profit Optimization evaluates total revenues, profit margins and guest acquisition/servicing costs to capture most valuable bookings DALLAS — September 29, 2021 — HITEC Booth #3401 (Kay Bailey Hutchison Convention Center Dallas)—IDeaS Revenue Solutions, the world’s leading provider of automated revenue management software and services, announced today Profit Optimization for G3 Revenue Management System (RMS). Profit Optimization is an enhancement to the G3 RMS revenue science engine that enables it to capture the most valuable business while considering the total contribution for each guest. This allows hoteliers to evaluat...
IDeaS and Amadeus Expand Technology Partnership to Expedite Hospitality Industry Recovery
IDeaS | September 23, 2021
Two hotel technology pioneers and global leaders work together to ensure frictionless client experience MINNEAPOLIS—Sept. 23, 2021— IDeaS, the world’s leading provider of revenue management software and services, and Amadeus (OTC US:AMADY), the leading provider of IT solutions for the travel and tourism industry, have announced an expanded partnership to aid mutual client recovery. The combined power of IDeaS and Amadeus’ best-of-breed technology solutions deliver accessible, actionable data insights via seamless integrations to help hoteliers recover stronger and grow revenue faster. • Improving sales and catering efficiency:...
ProfitSword Inspires Hotelier Success With Empowering Insights Into Business Intelligence Technology Trends During HITEC Dallas 2021
ProfitSword, LLC | September 23, 2021
Hospitality’s leading business intelligence innovator to showcase how hoteliers can leverage new advancements to ensure the success of recovery efforts and maintain profitability. Alpharetta, Ga. – (September 23, 2021) – ProfitSword, a premier developer of business intelligence and data integration software, is thrilled to be returning to this year’s HITEC Dallas as one of the industry’s leading technology providers committed to providing hoteliers with the advanced tools they need to effectively reduce costs and optimize performance during recovery. From September 27 – 30, ProfitSword representatives at booth #3018 will offer ...
Make Supercommuters Work for Your Hotel
Larry and Adam Mogelonsky | September 22, 2021
By Larry and Adam Mogelonsky The back-to-work siren call typifying September hasn’t had the universal impact as prognosticated during the summer because of, among other causes, safety concerns from the Delta Variant and because working remotely (from home) is just too good a perk to pass up for many. This in turn has opened up a new niche of travelers for select hotels to seize upon. Enter the ‘supercommuter’, the suburban or exurban digital professional who journeys well over an hour (possibly over two hours) to reach a given business destination, often in an urban center, for work, but only at an infrequent rate of once per week...
Wyndham Bolsters Strategic Revenue Management Services through Expanded Collaboration With OTA Insight
OTA Insight | September 20, 2021
LONDON - September 20, 2021 - Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 hotels across nearly 95 countries, today announced the roll-out of a new suite of revenue management tools for its franchised and managed hotels in Europe, Middle East, Eurasia and Africa (EMEA). The new initiative will equip participating hotels with stronger and enhanced visualisation of revenue performance metrics and is part of Wyndham’s long-standing partnership with OTA Insight, a leading cloud-based data intelligence platform. Revenue Insight by OTA Insight will enable Wyndham Hotels & Resorts an...
OTA Insight and PredictHQ Partner for Smarter Demand Forecasting as Hoteliers Prepare for Rebound
OTA Insight | September 16, 2021
San Francisco and Denver -- Sept. 16, 2021 -- OTA Insight, the cloud-based data intelligence platform for the hospitality industry, today announced a new partnership with PredictHQ, the demand intelligence company. PredictHQ’s intelligent event data is used by many of the world’s leading hotel brands, and elements of it are now part of OTA Insight’s solutions. The partnership has expanded OTA Insight’s sources of intelligent event data, allowing hoteliers using either Market Insight, Rate Insight and Revenue Insight to take advantage of a broader range of more accurate event insights, incorporating more geographical regions. This w...
Settlers Hospitality Chooses IDeaS’ Industry-Leading Revenue Management Solutions and Services
IDeaS | September 15, 2021
The Pennsylvanian hospitality group selected IDeaS G3 RMS along with a customized consulting engagement MINNEAPOLIS — September 15, 2021 — IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, is proud to announce its new partnership with Settlers Hospitality. The family-owned-and-operated hospitality group selected IDeaS G3 Revenue Management System (RMS) for its five historic, boutique properties after a competitive evaluation period. IDeaS has also committed to providing customized consulting services pre- and post-implementation to ensure the legacy hospitality business successfull...
Industry Update: How OTA Insight Is Supporting Hoteliers
OTA Insight | September 9, 2021
By Gino Engels, Co-founder and CCO of OTA Insight There is no doubt that the pandemic has altered the hospitality industry forever. In the past year-and-a-half, hoteliers have faced challenges that they never have before: identifying alternative revenue streams became imperative as travel came to a grinding halt, new health and safety standards were rapidly adopted, and unpredictable changes in travel restrictions and lockdowns around the world made initial recovery efforts difficult to navigate. Now, as the Delta variant sweeps the globe, we will re-enter an unquestionably difficult Fall season. Despite the many difficulties that the i...
Brera Serviced Apartments Partners With IDeaS Revenue Solutions to Enhance Growth Strategy
IDeaS | September 8, 2021
The German-based extended-stay hotel group will implement IDeaS G3 RMS in six locations to optimize cluster revenue management approach LONDON—Sept. 8, 2021—IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today that Brera Serviced Apartments will implement IDeaS G3 Revenue Management System (RMS) at six of its extended-stay properties across Germany. • An extended-stay solution – Brera Serviced Apartments sought an RMS that could maximize both shorter, week-long stays and longer, multiple-month bookings. After a thorough evaluation, the hospitality group determin...
IDeaS Wins Two Coveted Brandon Hall Group Human Capital Management Excellence Awards
IDeaS | September 1, 2021
Hospitality technology leader supports clients with dedicated enablement and engagement team to enhance learning and development MINNEAPOLIS—Sept. 1, 2021—IDeaS, the world’s leading provider of revenue management software and services, won two of the coveted Brandon Hall Group Human Capital Management (HCM) Excellence Awards for its client enablement efforts. • Gold award in “Best Use of Performance Support” in the Learning and Development program – The global pandemic caused a dramatic loss of business, drop in workforce, and consolidation of responsibilities in the hospitality sector. IDeaS revenue management systems (RM...
HEI Properties Identify Over $150k in Group Business Opportunities for 2021 and 2022 After Two Weeks of Using Knowland
Knowland | August 31, 2021
Knowland helps hotels identify new business and enhance efforts to rebuild meetings and events sales pipelines ARLINGTON, Va. — Aug. 31, 2021 — Today Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced the completion of a project with HEI Hotels & Resorts designed specifically to help select properties reinvigorate sales teams and prepare them for the next phase of recovery. Using the Knowland platform, HEI properties in Boston and Atlanta collectively identified $165k in opportunities during COVID in just two weeks of prospecting. Karl Murphy, chief commercial...
Nayara Resorts Partners With IDeaS to Bring Revenue Science to Its Growing Portfolio
IDeaS | August 25, 2021
Costa Rican-based boutique collection to implement IDeaS G3 RMS for greater profitability and efficiency MINNEAPOLIS—Aug. 25, 2021—IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today its new partnership with Nayara Resorts, beginning with the implementation of IDeaS G3 Revenue Management System (RMS) at two of the hotel group’s boutique resorts: Nayara Gardens and Nayara Springs by Costa Rica’s Arenal Volcano National Park. Nayara Resorts recognized the importance of implementing an RMS as post-travel-restriction demand began returning, selecting IDeaS as a scal...
What Are Customer Acquisition Costs and Why Is It Important to Calculate Them?
Dr. Meng-Mei Maggie Chen | July 21, 2021
By Dr. Meng-Mei Maggie Chen This article lays out why it's important to differentiate distribution costs from customer acquisition costs (CAC). Distribution costs refer to commissions paid to travel agents, OTAs, discounts to tour operators, etc. Whereas customer acquisition costs include the distribution costs, website-related costs, sales & marketing department salaries (after all, they are here to acquire customers), social media costs, advertising, loyalty and brand-related expenses, channel manager fees, etc. Why can't we calculate the customer acquisition costs? Because there is no account called "customer acquisi...
Independent Hotels Have the Key Ingredients to Steal Share From Branded Hotels
Mailys Pensivy | July 20, 2021
By Mailys Pensivy The top factors influencing a guest’s choice in hotel accommodation according to STR Research in May 2021 are: location, price & value for money, cancellation policy, previous stay, positive reviews/personal recommendations. Although most factors have been in the top 5 before COVID-19, the way each affects the booking decision has changed. By focusing on these 5 factors, independent hotels have the competitive advantages to steal share from branded hotels. 1. Location COVID-19 has changed how far guests are able or willing to go for their next vacation. After so many restrictions, travelers ...
IDeaS Gears Up for 2021 AAHOA Convention
IDeaS | July 15, 2021
As the franchise community gathers in Dallas for AAHOACON21, revenue management leader IDeaS prepares to tackle industry challenges MINNEAPOLIS—July 15, 2021—IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, announced it will participate as a Platinum Level sponsor at the upcoming Asian American Hotel Owners Association (AAHOA) convention and trade show in Dallas, August 3-6, 2021. IDeaS is planning a host of events and contact points to engage the franchisee and owner community in preparations for the new challenges of the post-COVID era. Elements of the expanded partnership with A...
Q : What Is Revenue Management?
EHL Insights | July 13, 2021
Revenue management involves the use of analytics and performance data to help those in the hotel industry predict their customers' behavior. The data is then utilized to make appropriate decisions in regards to pricing and distribution strategies. The ultimate goal of revenue management is to have the right room for the right person at the right time and place. When this occurs, you will be more likely to maximize your revenue, and in turn, your profit. The information gained on how your customers think and perceive value will be ultimately used to match your supply to their demand. This will help you determine when it is best to hold onto a...
Top 10 F&B Revenue Management Tips for Hotel Restaurants
Silvie Cohen | July 6, 2021
By Silvie Cohen, David Israel As restaurants emerge from the COVID-19 pandemic, operators remain challenged by nationwide labor shortages, the rising cost of wages, and the increasing cost of goods. To mitigate these bottom-line issues, just like hotels and airlines deploy revenue management techniques to push sales, there are strategies F&B teams can deploy to optimize their top line as well. This article takes you through F&B revenue management tips to help restauranteurs improve profitability. Top 10 F&B Revenue Management Tips for Hotel Restaurants: - Prix-Fixe Menus: Explore offering a fixed three-course menu for...
Serviced Apartment Provider SMARTments Business Selects IDeaS G3 Revenue Management System
IDeaS | June 24, 2021
German-based company partners with IDeaS to deliver automated, dynamic pricing and accurate forecasting across its growing portfolio of the SMARTments business unit LONDON—June 24, 2021—IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today that serviced apartment provider SMARTments business has selected IDeaS G3 Revenue Management System (RMS) to deliver automated, dynamic pricing and accurate forecasting across its growing portfolio. SMARTments business unit will implement IDeaS G3 RMS at its six extended-stay hotels across Germany, with a total of 752 furnished apa...
Think ABS to Grow Revenues for the Long-Term
Larry and Adam Mogelonsky | June 23, 2021
By Larry and Adam Mogelonsky No, this isn’t a car pun that implies you should put the brakes on operations or capex. By ABS, we’re referring to attribute-based selling or, more specifically for hotels, the ability to sell guestrooms on more than just their room categories by allowing customers to search for specific in-room features or even by offering upsell opportunities. Some of these to consider are: Adjoining rooms or configurable spaces for cribs or remote work Technological enhancements and IoT integrations Connected rooms with shared common areas Key amenities like a jacuzzi, terrace or private pools Unique ...
How Hotels Can Increase Share of Wallet With Incremental Offers
Jos Schaap | June 17, 2021
By Jos Schaap In simple terms, share of wallet (SOW) is the percentage of a customer’s total spending that is captured by a business. For hoteliers, once a guest has made a booking, the ultimate goal is to maximize the revenues that the guest generates for each stay. The key to achieving this goal is understanding the guest’s continuously shifting mindset around cost. The potential of conversion of every purchase opportunity after initial reservation acquisition is dependent upon finding the right context to present the offer. It would seem logical that travelers are willing to spend for a better experience. In fact, a national surv...
