Omni will implement revenue science to strategically enhance portfolio-wide profits encompassing more than 21,000 guest rooms and nearly two million square feet of event space
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MINNEAPOLIS—March 21, 2019—Omni Hotels and Resorts will roll out both IDeaS G3 Revenue Management System (RMS) and IDeaS Smart Space, a cloud-based meetings and events strategy application, across its portfolio of 60 distinct luxury hotels and resorts in North America.
Omni’s recent growth and market expansion, along with an increased focus on driving group business, led the brand to reevaluate its RMS options. It selected IDeaS, hotel technology innovator and originator of revenue science, to provide a comprehensive suite of guest-room revenue management and groundbreaking meeting space strategy solutions.
- Optimizing nearly two million square feet of event space – The IDeaS Smart Space solution will enable Omni’s banquet and catering managers to execute demand-based group pricing, yielding and occupancy tracking. These new capabilities will standardize and maximize the value of Omni’s portfolio-wide function space and drive more profitability across all properties.
- Automated pricing decisions for over 21,000 guest rooms – With IDeaS G3 RMS, Omni’s revenue managers will be empowered to make better informed, data-driven decisions to keep up with the complexity of their room-type offerings, channel distribution and pricing considerations. Omni will utilize a range of advanced, intuitive features in G3 RMS including room-class pricing, market-demand insights and flexible, multi-product optimization.
- Group business evaluation and profitability – Over the past decade, Omni has focused heavily on new hotel projects in cities like Atlanta, Nashville, Louisville, and Frisco, Texas with centrally-located properties adjacent to major stadiums and convention centers. Omni will use the group pricing evaluation tool in G3 RMS to gain greater visibility into group booking impact and business displacement.
Andrew Rubinacci, senior vice president, revenue and distribution, Omni Hotels and Resorts, said: “As we expanded our portfolio into convention center and resort markets, we found we needed to have a greater focus on total revenue management and group space capabilities. The integration of Smart Space coupled with the robustness and complexity of IDeaS’ algorithms really drove our final decision. I want to apply revenue management principles to everything—golf courses, restaurants, spas. Our success with the rollout of G3 RMS and Smart Space will help us move toward that.”
Ravi Mehrotra, president, founder and chief scientist, IDeaS, said: “IDeaS is honored to partner with Omni Hotels and Resorts. Its state-of-the-art, luxury properties and continued drive to expand into new markets makes them an excellent fit for the feature-rich sophistication of IDeaS G3 RMS and the first-of-its-kind event space functionality of Smart Space. We are delighted they have embraced the principles of revenue science and look forward to a long and mutually beneficial relationship.”