Hamilton Island Works with IDeaS to Grow Revenue in a Weaker Market
IDeaS RMS helps deliver a 6.7% revenue gain for Hamilton Island
IDeaS Revenue Solutions, the leading provider of pricing and revenue management software, services and consulting, today announced that it has been working with Hamilton Island Enterprises to help manage demand, create accurate forecasts and assist with pricing decisions. In working with IDeaS, Hamilton Island has achieved a significant revenue gain of 6.7%, in spite of weaker industry operating conditions.
"The tourism landscape in Australia has undergone a period of softer demand over recent years. In 2011 international visitor numbers were down 9%, whilst the number of Australians taking foreign holidays was up 10%*- which has put pressure on local hoteliers and resort owners to ensure they have the right systems and offerings for their market in place," said Grahame Tate, Managing Director of IDeaS APAC.
To help support revenue growth, regardless of industry operating conditions, Hamilton Island began working with IDeaS in August 2010. At this time Hamilton Island began onsite training to use IDeaS Forecasting Management System (FMS), which was implemented across key hotels and residences on the Island. The IDeaS Revenue Management System (RMS) was later implemented in March 2011 at Hamilton Island's Reef View Hotel, which was extended to qualia in June 2011.
"Employing IDeaS solutions enables us to streamline the forecasting process, allowing more time to be spent analysing data rather than manually manipulating spread sheets. We have improved our forecast performance and now we are better equipped to monitor shifts in demand, wash of trade allotments and booking pace for special events," said Hamilton Island Enterprises' Revenue Manager, Emma Perham.
The deployment of IDeaS technology has led to a significant increase in revenue. Over the past 12 months at the Reef View Hotel alone (where the IDeaS RMS is employed), the hotel has seen a transient room night gain in excess of 3,500 room nights and a transient revenue gain of 6.7%.
"Revenue optimisation is now managed holistically through a combination of rate hurdles, overbookings and length of stay management. For properties where IDeaS RMS is utilised, the system decisions have helped to smooth out occupancy peaks and troughs - filling shoulder dates and maximising room revenue. This has given us the tools to develop and enhance existing revenue management practices," Ms Perham said.
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With more than one 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 more than 27 years of experience, IDeaS proudly supports more than 8,700 clients in 106 countries and is relentless about providing hoteliers more insightful ways to manage the data behind hotel pricing.
IDeaS empowers its 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.
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