IDeaS Provides Revenue Management Benefits to Newly Opened or Acquired Hotels
IDeaS Revenue Optimization, the leading provider of hospitality revenue management and optimization solutions and services, today announced its New Hotels Success Service Package (NHSSP), a service designed to allow hotels to bring the advantages of the IDeaS V5i Revenue Management solution into new properties. IDeaS designed the package to enable newly opened hotels or hotels with no historical data to have a fully automated revenue optimization and pricing solution in place at the earliest possible opportunity; in many cases, prior to hotel opening. To date, the package has been deployed in more than 50 hotels with an additional 30 hotels currently in the planning stages.
The techniques used to bring quality forecasting and pricing decisions to a hotel without historical data were developed to exploit information that is available prior to a hotel's opening such as budgeted occupancy and revenue figures. In addition, using advanced data analytics, IDeaS has created a 'Booking Pattern Database' which enables the booking patterns needed to produce quality forecasts to be 'cloned' based on the characteristics and market mix of the new hotel. Over time, as the true patterns for the new hotel emerge, the cloned patterns are automatically replaced.
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With more than 1.6 million rooms priced daily on its advanced systems, IDeaS Revenue Solutions leads the industry with the latest revenue management software solutions and advisory services. Powered by SAS® and with nearly three decades of experience, IDeaS proudly supports over 10,000 clients in 124 countries and is relentless about providing hoteliers with insightful ways to manage the data behind hotel pricing.
IDeaS empowers clients to build and maintain revenue management cultures–from single entities to world-renowned estates–by focusing on a simple promise: Driving Better Revenue.
IDeaS has the knowledge, expertise and maturity to build upon proven revenue management principles with next-generation analytics for more user-friendly, insightful and profitable revenue opportunities–not just for rooms, but across the entire hotel enterprise. For more information, visit www.ideas.com.