Hotel Online  Special Report

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Hyatt Selects MaximRMS’ e.FLEX
Revenue Management System
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MaximRMS expertise and advanced technology a good match for Hyatt’s vision
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CHICAGO, Illinois - March 27, 2006 - Maxim Revenue Management Solutions (MaximRMS), a leading global provider of revenue management systems announced that Hyatt Hotels & Resorts has selected MaximRMS’ e.FLEX revenue management system for a company-wide ASP implementation.   E.FLEX is being integrated with Hyatt’s PMSs, CRSs, S&CS and competitive data.  In addition, e.FLEX’s powerful features allow the accommodation of key strategic Hyatt revenue management business practices.  MaximRMS will also be hosting e.FLEX for all Global Hyatt hotels. 
 
According to Chris Elam, Vice President of Revenue Management for Hyatt Hotels Corporation, critical functionality for Hyatt included the need for the very latest in revenue management technology in a reliable, proven ASP system accessible on any computer via secure web browser, sophisticated group forecasting based on observed group behavior at the individual group level, and a flexible product to meet the dynamic needs of properties across Global Hyatt’s entire portfolio.  
 
“We needed to find a solution that was fully automated with two-way interfaces with all of our systems,” said Elam.  “These include PMS systems from multiple vendors, including Micros’ Fidelio V6 and Opera, our custom SPIRITTM and Cendant-provided central reservations systems, and our Envision Sales and Catering system.  Additionally, we needed a solution that highly integrates competitive data from TravelCLICK and Smith Travel Research to give our revenue management team up-to-date market rate information in a hands-on, intuitive format,” he added.  
 
Hyatt has been using an earlier version of the MaximRMS’ technology in all of its North American and Caribbean hotels since 1996 with great success.  Hyatt’s revenue management system utilizes MaximRMS’ patented Marginal Value Engine™, to achieve the highest level of revenue from rate and room offerings in the dynamically changing hospitality distribution environment.  “E.FLEX was the only solution that met all of our current criteria for revenue performance, reliability, ease-of-use, and cost, as well as our long-term revenue management goals for enhanced technology in the near future.  It only seems natural that our decision to switch to an ASP revenue management solution resulted in the selection of e.FLEX advanced technology and the renewal of a successful partnership with MaximRMS,” Elam said.
 
 “We are delighted to work with Hyatt on this project.  Global Hyatt has a clear vision of their current and future revenue management requirements.  They appreciate the advanced technology and the flexible features of our e.FLEX product, as well as MaximRMS’ ability to meet their future revenue management needs and rapid deployment schedule.  Hyatt knows MaximRMS’ commitment to incorporating client feedback in their products and the unsurpassed capability of e.FLEX to increase transient and group profitability,“ said Steve Gelb, CEO of MaximRMS.  “No other system can match our patented technology and proven track record.”
 
E.FLEX Flexibility and Accuracy 
 
E.FLEX delivers unsurpassed accuracy in a highly intuitive web-native GUI accessible via any internet browser.  E.FLEX offers the additional advantages of:
  • Unsurpassed algorithms - patented, proven technology with a 20-year track record produces accurate forecasts integrating full-pattern length-of-stay controls; not just “hurdle” rates
  • Intraday forecasting – e.FLEX reads detailed, real-time reservation activity enabling intraday forecasting to quickly accommodate on-day demand
  • No “bucketing” of demand – detailed forecasts at the rate category level show true rate values; not arbitrary “bucket” values
  • Distribution channel optimization incorporates channel costs and generates different recommendations for each channel
  • Web-native ASP system deployed since 2003 provides easy access via secure internet browser; built upon central systems with a long history of reliability
  • Ability to incorporate ancillary guest spending (spa, golf, food & beverage) to evaluate the true value of a guest stay
About Maxim Revenue Management Solutions (MaximRMS)
 
MaximRMS is a pioneer in the field of automated revenue management. The founder of MaximRMS led the team that performed groundbreaking research in mathematical forecasting and optimization to develop the first revenue management system. That same group of experts joined forces to create maxim® e.FLEX for the hospitality industry. Through its patented Marginal Value Engine (MVETM), maxim® e.FLEX is the only hospitality revenue management system that offers Net Profit Optimization.  Powered by this unique algorithm, maxim® e.FLEX accurately forecasts and optimizes the net profit contribution from every future reservation and guest stay.  The result is an increase directly to the bottom line - delivered every day in hundreds of installations around the world.  
 
MaximRMS offers the easiest to use and most complete portfolio of revenue management tools available, including group forecasting and management, distribution channel optimization, competitive rate analysis and intra-day optimization.  MaximRMS products are compatible with all PMS, CRS, GDS and Internet distribution channels. With the large scale deployment of maxim® e.FLEX systems, MaximRMS offers the ultimate in implementation flexibility along with the best ROI.  Point.Click.OptimizeTM…that’s the Bottom Line.  For more information please visit www.maximRMS.com.
 
About Global Hyatt Corporation  
 
There are 215 Hyatt hotels and resorts (over 90,000 rooms) in 43 countries around the world, operating under the Hyatt®, Hyatt Regency®, Grand Hyatt® and Park Hyatt® brands. Currently, there are an additional 30 Hyatt hotels and resorts under development, including 11 new hotels in China.   Hyatt Corporation (domestic U.S., Canada and Caribbean hotels) and Hyatt International Corporation (international properties) are subsidiaries of Chicago-based Global Hyatt Corporation.  Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc. operators of the Hyatt Vacation Club (timeshare and fractional residential product), Hyatt Equities, L.L.C. (hotel ownership), Select Hotel Group L.L.C. (which owns, operates and franchises AmeriSuites hotels, Hyatt Place and Summerfield Suites hotels) and U.S. Franchise Systems, Inc. (which franchises Hawthorn Suites, and Microtel Inns and Suites).  

From the U.S. and Canada, reservations for any Hyatt hotel worldwide may be obtained by calling 1-800-233-1234 or logging onto www.hyatt.com.

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Contact:

Kathryn Lange
Maxim Revenue Management Solutions
+1.773.435.1126
klange@maximRMS.com
www.maximRMS.com


 

 
Also See: Maxim Revenue Management Solutions and TravelCLICK Sign Strategic Alliance; Introduce Revolutionary Executive-level Revenue Management Product / June 2004
ARAMARK Harrison Lodging Selects LexKeySM by Maxim Revenue Management Solutions for Company-Wide Deployment / June 2004
Optimizing Revenues and Profits across Distribution Channels: Lexington Services and Maxim Revenue Management Solutions present LexKey / June 2003
Maxim Revenue Management Solutions Establishes Long-term Presence in Japan, Signs Key Agreement with Leading Hospitality Consulting Firm, PHASE, Inc. / April 2003


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