SalesAndCatering.com and LodgIQ™ Announce Partnership To Deliver Market-Leading AI Revenue Management for Group Sales
SalesAndCatering.com | June 18, 2024
Direct Booking Growth Tips for the Back Half of 2024
Adam and Larry Mogelonsky | March 27, 2024
Revenue Strategies
IDeaS Wins Three Human Capital Management Excellence Awards From the Brandon Hall Group
IDeaS | August 24, 2023
Leading provider of revenue management software recognized for best practices in the dedicated enablement of client training programs and internal curricula designed to enhance learning and development MINNEAPOLIS—Aug. 24, 2023—IDeaS Revenue Solutions, the world’s leading provider of automated revenue management software and services, won three coveted Brandon Hall Group Human Capital Management (HCM) Excellence Awards, including gold for Best Advancement in Learning in the Flow of Work and bronze for Best Learning Team and Best New Hire Onboarding Program. The 2023 Brandon Hall Group HCM Excellence Awards™ recognizes best pract...
Understanding Today’s Guests and Capturing Revenue Beyond The Room
Rohith Kori | August 18, 2023
By Rohith Kori Filling up as many rooms as possible with the most optimized pricing for each room has always been the main focus of the traditional hotelier. While revenue per available room (RevPAR) has been the most common metric to hotels in the past, today they are finding revenue per available guest (RevPAG) to be even more important. Instead of solely looking at the occupancy (OCC) and average daily rate (ADR) for one room, now properties are looking more closely at the guest (or guests) that reserve these rooms, what they are interested in, and how to capitalize on those interests and capture more of their spend. As The Ame...
Breakfast Is King: Elevating the Guest Experience through F&B Innovations
Court Williams | August 14, 2023
By Court Williams Food and beverage (F&B) services are now integral to the hotel guest experience, extending beyond mere sustenance to create memorable moments and elevate the overall stay. Gone are the days when hotel restaurants were loss leaders, primarily serving the needs of in-house guests. F&B has emerged as a profit center, with proactive and innovative approaches driving its success. The Power of Innovative F&B Today’s hotel guests expect more than just a place to rest. They want intriguing and Instagrammable moments extending to the dining table, community spaces, and overall experience. Hotels recognize the power...
Top Services That Guarantee Ancillary Revenue in the Hospitality Industry
Rajesh P Yadav | August 8, 2023
by Rajesh P Yadav The topic of ancillary revenue has been widespread ever since the onset of the pandemic, which significantly altered the cause of hospitality. Businesses have entered a new age, experimenting with new income sources and expanding their revenue strategies beyond the traditional. While lodging, accommodation and food are what hospitality is known for most, the world noticed how leveraging ancillary revenue opportunities can guarantee faster recovery and sustainability, even during crisis times. Several businesses in the hotel industry adopted diverse distribution strategies to sell non-room revenue products and serv...
Iconic Hotels Selects IDeaS to Drive Revenue Performance Across Five Properties in Australia
IDeaS | August 2, 2023
IDeaS RMS provides flexibility in adapting to market deviations, and ongoing optimisation helps ensure accurate rate decisions SINGAPORE – Aug. 2, 2023 – IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today that Iconic Hotels by Geocon has adopted IDeaS Revenue Management System (RMS) across five of its Australian-based properties to automate daily pricing tasks and drive Average Daily Rate (ADR) performance. Following a period of organisational growth, Iconic Hotels faced complex revenue management issues that relied heavily on manual intervention. These inefficie...
Hospitality Group and Business Performance Index From Knowland and Amadeus Shows Q2 2023 Group Revenue Recovery in Fourteen of Top Twenty-Five US Mark
Knowland | August 1, 2023
Group business shows most significant improvement at 102 percent of the same period in 2019 ARLINGTON, Va. — Aug. 1, 2023 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and Amadeus, a global leader in hospitality technology, today present the metrics from the companies’ Hospitality Group and Business Performance Index, for the second quarter of this year. The Index, which combines event data from Knowland with hotel booking data from Amadeus to give both individual and aggregate views of the key drivers of hotel performance, was first launched in June and is updated...
HSMAI Washington DC Chapter Announces State of the Industry Program
HSMAI Washington DC Chapter | July 31, 2023
WASHINGTON (July 31, 2023) – The Washington, D.C., chapter of the Hospitality Sales and Marketing Association International today invited hospitality professionals from throughout the metropolitan area to attend its annual State of the Industry program Aug. 24 at the Hilton Washington DC National Mall The Wharf. The program is designed to help area hospitality sales, marketing and revenue-management professionals prepare their plans and budgets for 2024. Moderator will be Jennifer Hill, Kalibri Labs vice president of commercial strategy. The panel will include Robin McClain, Destination DC chief marketing officer; John Hach, Amadeus seni...
IDeaS Welcomes More Than 200 Hotel Commercial Leaders to Its 2023 Converge Client Summit in London
IDeaS | July 27, 2023
Executives from Microsoft, Starwood Capital Group, and Aimbridge Hospitality cover trends ranging from AI to revenue optimization LONDON—July 27, 2023— IDeaS, the world’s leading provider of hospitality revenue management software and services, held its annual Converge Hospitality Revenue Summit. The sold-out event was attended by more than 200 global hospitality executives and delivered two days of networking opportunities, education, and strategies for business growth and a look at the future of revenue management (RM) technology. The event comes as IDeaS further expands its product suite and offerings to more than 30,000 hotel...
IDeaS Announces a New Partnership With Starhotels
IDeaS | July 13, 2023
IDeaS to help Starhotels maximise revenue and profit potential across Italy and the UK through the adoption of its flagship G3 Revenue Management System LONDON — July 13, 2023 — IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, has announced that Starhotels will deploy IDeaS’ G3 Revenue Management System (RMS) to improve revenue generation and forecasting at 28 of its properties across Italy and the UK. The rollout will allow Starhotels’ properties to compete equally with international brands backed by advanced technology and strong revenue management practices. Starh...
Profiting From Low Cal Wines
Adam and Larry Mogelonsky | July 12, 2023
By Larry and Adam Mogelonsky Coming off what was hopefully a restful 4th of July break, lest we forget that wine is a still a profit center for hotels and restaurants all around the world and for all four seasons of the year. Still, there are lots of new trends to embrace in order to drive average check per cover. There are lots of reasons to rethink your beverage strategy for the latter half of 2023 and for 2024, especially because it can mean quick wins for your hotel’s revenues versus more expensive, long-term projects. And as a quick plug, if you’re interested in learning how to market your wine list for revenue optimization, co...
Why Hoteliers Should Be Offering Local Tours and Activities?
Max Starkov | July 11, 2023
By Max Starkov Last week Sabre acquired Techsembly, an automated online retailing platform hotels can use to sell on- and off-property experiences and other add-ons. Local tours and activities are the last travel sector to embrace online distribution. In spite of all the industry buzz and its huge potential, less than 15% of local tours and activities are bookable online, some experts even claim this figure to be 10%. Why is that? There are two main reasons: the highly fragmented nature of this sector and historic travel consumer preferences. The local tours and activities sector is greatly fragmented, consisting of millions of small...
As Occupancy Stalls, Parking Drives Hotel Revenue Growth
Todd Casper | July 6, 2023
By Robert Mandelbaum, Todd Casper Based on our February 2023 Hotel Horizons® report, CBRE is forecasting that total hotel revenue for the average U.S. hotel returned to pre-COVID levels in 2022. This occurred despite the fact that the average occupancy for U.S. hotels is not expected to exceed 2019 levels until 2026. With occupancy levels lagging during the post-COVID recovery and guest counts depressed, hotel owners and operators have had to look for alternative sources of revenue beyond the rental of guest rooms to make up for the income deficits. For some hotels in the U.S., parking has become a profitable source of revenue since CO...
Red Carnation Centralises Commercial Teams With an Agile Revenue Strategy
IDeaS | July 6, 2023
Founded in 1952, the Red Carnation Hotel Collection is a family-owned and operated portfolio of properties comprising 18 luxury properties around the world, each renowned for its dedication to providing exceptional guest experiences with a local flavour. The management wanted to revitalise its strategic approach to revenue management and consolidate the function within a centralised commercial team. Sarah Glanville, Red Carnation’s director of revenue, had seen the value of IDeaS’ RMS data in informing the wider commercial function and managing performance metrics. “We typically use IDeaS for most things like last room availabilit...
Demand Calendar Showcases Profit-Oriented Revenue Management at HITEC 2023 in Toronto
Demand Calendar | June 26, 2023
[STOCKHOLM, SWEDEN] – June 26, 2023 – Demand Calendar, a comprehensive revenue and profit management system, will be exhibited for the first time at HITEC in Toronto. Demand Calendar, designed with a profit-oriented approach, aims to provide hotel businesses with tools for more accurate total revenue forecasting, effective management of customer acquisition cost, and profit optimization. Visit booth #517 to learn more about profit-oriented total revenue management. Profit-Oriented Revenue Management is an approach that optimizes the total revenue mix to maximize profit flow-through, focusing on attracting guests and customers who spe...
IDeaS Expands Innovative Pricing Approach With Independent Products
IDeaS | June 21, 2023
New capabilities help hotels optimally price products based on unique demand patterns, make smarter pricing decisions, and boost incremental revenues MINNEAPOLIS—June 21, 2023—IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today new capabilities for G3 RMS. Independent Products now allows hoteliers to optimally price each product based on its individually unique demand patterns and any linked rates associated with those products, down to the room-type level. Today, distribution processes and pricing decisions are complicated by complex configurations and limita...
Introducing: Optimized Hotel Revenue Management From Anywhere With Daily Rate Manager in Chorum Mobile
Jonas Chorum | June 15, 2023
Jonas Chorum is excited to announce that our staff-facing mobile app has a brand-new module. Chorum Mobile gives hoteliers key hotel management functionality, right from your phone. This new module introduces revenue management on the go. The ChorumPMS app can be downloaded for iOS and Android, allowing you to oversee hotel operations and housekeeping from any mobile device. With this new module, you can see real-time data on key performance indicators in an intuitive dashboard to inform on-the-go revenue management. Alongside those KPIs you can easily update rates based on rate codes and room types. Rates updated in the mobile app are aut...
The Hotel Profit Playbook: Data-Driven Strategies to Move Beyond Rooms Revenue
myDigitalOffice (MDO) | June 7, 2023
Understanding labor and amenity costs, analyzing non-room revenue trends, and centralizing data from all revenue sources is arming hospitality leadership with the right data to make more profitable decisions. BETHESDA, MD. – MDO, in collaboration with Stayntouch and Revenue Analytics, has released "The Hotel Profit Playbook: Data-Driven Strategies to Move Beyond Rooms Revenue," a special report aimed at redefining the way hoteliers approach profit management. The Hotel Profit Playbook introduces the concept of Total Profit Optimization, defined as the act of broadening operational strategies to include focus on all...
IDeaS Powers Park Plaza Hotels Europe’s Revenue Management
IDeaS | May 31, 2023
IDeaS selected as RMS provider at 17 properties across the UK, the Netherlands, and Italy LONDON — May 31, 2023 — IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, has been selected as the preferred RMS provider to Park Plaza Hotels Europe (PPHE Hotel Group) in Europe. Following a competitive tender process, IDeaS’ G3 RMS was selected for its innovative automation and ease of integration within the wider tech stack. G3 RMS will be deployed at 17 properties, including Park Plaza branded hotels across the UK and the Netherlands, as well as art’otels in Amsterdam, Rome, an...
IDeaS Named “RMS Platform of the Year” in Inaugural 2023 TravelTech Breakthrough Awards Program
IDeaS | May 24, 2023
Prestigious annual awards program recognizes standout travel technology companies, products, and services around the world MINNEAPOLIS—May 24, 2023—IDeaS Revenue Solutions, the world’s leading provider of automated revenue management software and services, has been selected as “RMS Platform of the Year” in the inaugural TravelTech Breakthrough Awards program conducted by TravelTech Breakthrough. This leading independent market intelligence organization evaluates and recognizes standout travel technology companies, products, and services around the globe. • IDeaS Function Space Revenue Management (FSRM), a module to G3 RMS ...
When Business Strategy Rhymes With Financial Reporting Complexity
Dr Cédric Poretti | May 19, 2023
An insightful exploration into how certain business strategies can enhance the flexibility of companies while simultaneously increasing their financial reporting complexity. The COVID-19 pandemic and the recent invasion of Ukraine are two prime examples of unanticipated shocks that have placed intense strain on companies’ financials. These events generated uncertainty and highlighted the importance of managing risks and being flexible. Financial flexibility can be achieved through retaining adequate cash reserves to handle any unforeseen obligation or constraint, or adopting a cost structure that allows the firm to withstand a sudden dec...
What Can Hoteliers Really Learn From TrevPAR?
Jason Q. Freed | May 16, 2023
By Jason Q. Freed Ancillary revenues are skyrocketing and total revenue figures can help hotels benchmark performance against their comp set, but operational decisions should be made by diving deeper. Because it provides a more holistic view of the revenue generated across an entire property, more hospitality leaders are turning to TrevPAR (Total Revenue Per Available Room) as a key measurement in their benchmarking and operational strategies. To calculate TrevPAR, hotels add all revenue generated from room sales, food and beverage sales, meeting room rental and spa services, and other sources of revenue, such as parking, resort fees...
How Are Top Independent Resort Operators Leveraging Their Tech Stack to Increase Revenue?
Audrey MacRae | May 16, 2023
Resorts are embracing technology to improve cross-selling and ancillary revenue By Audrey MacRae Hotels are preparing for a busy summer of leisure travel, and for resort hotels across the industry, success during this period will be determined by their ability to improve ancillary revenue from across their property. Considering the limited available labor in the industry, hoteliers need to ensure their property has the right technology in place to maximize the return on their revenue-generating goods and services—especially independent operators. Unfortunately, not every hotel PMS is set up to offer the same advantages in resorts comp...
IDeaS Announces the Fabian Specht Future Revenue Innovator Scholarship Winners
IDeaS | May 10, 2023
EHL Hospitality Business School and IDeaS award scholarships in honor of Fabian Specht LONDON—May 10, 2023— IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today the winners of the Fabian Specht Future Revenue Innovator Scholarship. The scholarships have been awarded to two international EHL students pursuing a hospitality management education, JeongHoo Lee and Alexandre Martin. In addition to their studies, both students are working towards career development. Lee, is a Gold Student Ambassador, a marketing and recruitment student assistant in APAC for EHL, ...
Why Hotel Revenue Managers Know Not to Soley Rely On Gut Instinct When It Comes to Group Revenue Management
David Millili | May 4, 2023
By David Millilii, CEO of LodgIQ Amadeus reports that group and business travel segments are steadily recovering, with 4.3 million group room nights booked for H1 2023. The global business travel segment is expected to recover fully by 2024. According to the Global Business Travel Association (GBTA), group travel demand will likely increase in 2023, and the average spend per attendee for group events will increase in 2023. Group business means big business for hotels, accounting for a significant portion of hotel revenue. Some estimates suggest it can make up as much as 30-50% of a hotel's total revenue. This underscores the importance ...
