SAS and IDeaS Address Revenue Managers’ Concerns at the Premier Business Leadership Series Conference
Revenue managers cite importance of optimizing revenue in poor economy
IDeaS Revenue Optimization, the leading provider of hospitality revenue management and optimization solutions and services, today released feedback from revenue managers that participated in a joint IDeaS/SAS focus group regarding gaming revenue management needs and challenges for 2009. The focus group included seven revenue managers from the world's leading casinos and took place at "The Series" in Las Vegas, an executive event that explores topics facing today's global business leaders. Revenue managers agreed that the number one concern for 2009 is the ailing economy and the importance of revenue optimization strategies to remain competitive.
"Feedback from our top gaming clients is incredibly valuable as they are beginning to reap the benefits of our relationship with SAS," said Linda Hatfield, vice president, product management, IDeaS. "We look forward to providing the most effective revenue optimization and pricing solutions for our clients to combat these tough economic conditions."
Focus group participants discussed how changes in the economic climate are forcing revenue managers to spend more time performing deeper analysis on their demand patterns. Executives are requiring up to the minute performance data, faster reaction times, and weekly or even daily budget forecasts. This puts pressure on the revenue management function to constantly evaluate and react to market conditions. Revenue management systems not only must adapt to market conditions quickly, but revenue managers must be better prepared to make sound pricing and inventory control decisions in order to make the most of existing demand.
Focus group participants also discussed the need to move from demand management to demand sourcing. During economic downturns, the revenue department needs to become more strategic and more proactive in order to fulfill demand. This means working more closely with the marketing department and sourcing CRM data to understand who might fill that demand.
SAS is the market leader in providing a new generation of business intelligence (BI) software and services that create true enterprise intelligence. SAS solutions are used at 40,000 sites — including 96 of the top 100 companies on the FORTUNE Global 500® — to develop more profitable relationships with customers and suppliers; to enable better, more accurate and informed decisions; and to drive organizations forward. SAS is the only vendor that completely integrates leading data warehousing, analytics and traditional BI applications to create intelligence from massive amounts of data. For three decades, SAS has been giving customers around the world The Power to Know®. Visit us at www.sas.com/industry/hospitality
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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 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.