IDeaS Names Winner of Fabian Specht Revenue Optimisation Professional of the Year at HSMAI Europe
IDeaS | January 26, 2023
IDeaS Scores in Two Categories of the Hotel Tech Awards
IDeaS | January 18, 2023
Revenue Strategies
IDeaS Names Winner of Fabian Specht Revenue Optimisation Professional of the Year at HSMAI Europe
IDeaS | January 26, 2023
Preferred Hotels & Resorts’ Raimund Notz recognised for exceptional revenue management strategy and inspirational leadership at London event LONDON— Jan. 26, 2023 — IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced Raimund Notz from Preferred Hotels & Resorts as the winner of the prestigious Fabian Specht Revenue Optimization Professional of the Year at the recent Hospitality Sales and Marketing Association International (HSMAI) Europe Awards in London. The award is named in memory of IDeaS’ EMEA-area vice president Fabian Specht who passed away unexpe...
A Hotel Guide for Avoiding OTA Panic and Rate Parity Games
Vikram Singh | January 24, 2023
By Vikram Singh OTAs are a fact of life in our industry. But there are so many negative feelings about them, constantly being stoked by hotel media, that it becomes difficult for hotels to form calm, cohesive OTA and rate-setting strategies. OTA-bashing articles surface every few months, no matter what cycle the travel business is in. These articles usually involve screenshots of OTA rates being lower than the hotel’s direct rates, leading to complete disgust and a ton of hate reading. Other times, these feelings of fear and loathing towards OTAs are triggered at conferences by speakers going for some cheap applause. I would like t...
IDeaS Scores in Two Categories of the Hotel Tech Awards
IDeaS | January 18, 2023
Company secures Top 10 Global Hotelier’s Choice Award and Best Place to Work MINNEAPOLIS—Jan. 18, 2023—IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today it ranked in the Top 10 Global Hotelier’s Choice and Best Places to Work awards in the annual HotelTechAwards. Dr. Ravi Mehrotra, co-founder, president, and chief scientist, IDeaS, said: “IDeaS’ global teams are committed to ensuring the complete satisfaction of our clients. From the first engagement through the lifecycle of our relationship, our mission is to demonstrate our relentless focus on client succe...
Marriott International Announces Instant Booking Solution for Meetings and Events With Groups360
Groups360 | January 18, 2023
Marriott International now offers online instant booking for group guest rooms and meeting space through GroupSync Marketplace at properties in the U.S. & Canada Marriott International and Groups360 today announced the launch of Instant Booking for Marriott’s portfolio of hotels in the United States and Canada. Marriott International is the first brand to have a direct integration with Groups360 to offer the “Instant Book” functionality for both guest rooms and meeting space at scale on GroupSync Marketplace, providing planners with a streamlined booking process at the click of a button. As the meetings and events landscape be...
Knowland Closes Recovery Data Reporting as Monthly Meeting Volume Exceeds 2019 for Second Month in a Row With December Reaching 103.1 Percent of Pre-P...
Knowland | January 11, 2023
Data insights leader established as the preeminent source of analytics and insights for meetings and events with unmatched recovery reporting for more than two years ARLINGTON, Va. — January 11, 2023 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, released its final U.S. monthly meetings and events data benchmarked against 2019, reporting December 2022 achieved 103.1 percent of December 2019 volume, exceeding monthly pre-pandemic levels for the second month in a row. Knowland began tracking and releasing monthly group recovery data in October 2020 to inform the in...
IDeaS Expands European Presence
IDeaS | January 11, 2023
More than 70 client wins from luxury hotels to campsite accommodations demonstrate the power and versatility of IDeaS’ solutions LONDON — Jan. 11, 2023 — IDeaS, the world’s leading provider of revenue management software and services, announced today that it closed 2022 with a host of new clients. From luxury resorts to unique family-friendly campsites, IDeaS’ client wins encompass the breadth of accommodation offerings across Europe. Over 70 new accommodation clients across 12 countries in Europe have signed deals to use IDeaS’ suite of products in the past four months to aid their profit optimisation and develop strategic...
RezRecover Celebrates Record-Setting Year With Over $78M in Recovered Bookings for Hotels, 200+ New Implementations, and 143 New Properties
RezRecover by CartStack | January 10, 2023
2022 was a landmark year of record-setting reservations recovered, new hotel clients, new technology advancements, and key strategic partnerships. MINNEAPOLIS, MIN (January 10, 2023) – CartStack, the leading eCommerce technology behind RezRecover, has much more to celebrate than the new year. The company announced today that 2022 was a landmark year of record-setting reservations recovered, new hotel clients, technology advancements, and key strategic partnerships. Founded in 2013, CartStack developed RezRecover, the first-to-market, enterprise-grade solution to solve this costly $10B booking abandonment problem for hotel operat...
Pyramid Global Hospitality Extends Data Analytics Partnership With Knowland
Knowland | January 4, 2023
Partnership increases the number of properties using the Knowland Platform and endorses the group sales solution across Pyramid Global portfolio hotels ARLINGTON, Va. — Jan. 4, 2023 — Today, Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced that Pyramid Global Hospitality has expanded its long-standing relationship with Knowland, implementing the group data solution in additional properties and utilizing the platform across its Americas portfolio. Pyramid Global is widely recognized for its data-driven and people-first approach to exceptional hotel management, in...
5 Things That Highly Successful Revenue Managers Do Every Morning
David Millili | December 20, 2022
By David Millili Discover how to kickstart your day using the right strategies to optimize productivity, revenue, and the most profitable results In a society largely defined by work and our ability to excel, many of us are fascinated with the traits and habits of great leaders and successful people. More importantly, we want to know which practices and routines we can emulate to garner similar results and transformations. Let’s take British business magnate Richard Branson, as an example, who likes to get up around 5 AM and exercise first. Similarly, Apple’s Tim Cook is up early every morning, rising at 3:45 AM to work on email...
How to Get Revenue Management Right for 2023
Ahmed Mahmoud | December 20, 2022
By Ahmed Mahmoud Recently hospitality industry has encountered the Russia-Ukraine conflict with no end in sight along with the sanctions imposed on Russia. The political and economic implications of the conflict have just started to manifest themselves and it may take us a long time to realize the actual damage cost of the conflict. It has, nonetheless, led to an increase in global oil prices and led to a disruption (shortage) in global food production and supply chains. It will lead to an increase in flight prices and the cost of travel and will delay demand recovery. The above means the global hotel industry will continue to navigate ...
Duetto Launches Annual Trends & Predictions Survey
Duetto | December 12, 2022
Hotel software company aims to track how hotels intend to optimize business mix in 2023 San Francisco, December 12, 2022 – Duetto, the hospitality industry’s #1 Revenue Management Software (RMS), has launched its latest annual Trends & Predictions 2023 Survey and is giving hoteliers a chance to win one of five $100 Amazon Gift Cards for completing the short five-minute survey. Open to hoteliers, revenue consultants, owners, and asset managers, the Revenue Management Outlook & Trends Survey 2023 is looking for input on: The biggest challenges facing hoteliers in 2023 Trends in hotel technology investment and adop...
IHG Hotels & Resorts Renews Amadeus’ Business Intelligence Solutions
Amadeus | December 8, 2022
The global hotel chain exclusively recommends the use of Demand360®, Agency360®, and RevenueStrategy360™ across its portfolio to help both corporate colleagues and hoteliers gain market insights to drive demand and revenue As travel continues to recover around the world, hotel operators need to remain agile and capture demand. To effectively prioritize time, resources, and staffing, as well as optimize revenue management, it is vital to have access to comprehensive, timely, and forward-looking business intelligence data. To support strategic decision-making, IHG Hotels & Resorts has renewed its long-standing partnership with A...
The Maho Group Selects Cendyn to Power CRM, Revenue Management, and Business Intelligence
Cendyn | December 7, 2022
The St. Maarten-based resort group has chosen Cendyn’s eInsight CRM and revenue management solutions to drive personalization and optimize revenue and business intelligence for two Sonesta-branded gaming properties in St. Maarten. Wednesday, December 7th, 2022 – Boca Raton, FL: Cendyn, a catalyst for digital transformation in the hospitality industry, announces today that The Maho Group has selected Cendyn to power CRM, revenue management, and business intelligence at two St. Maarten resorts, the Sonesta Maho Beach Resort, Casino & Spa and Sonesta Ocean Point Resort. Headquartered on the Caribbean Island of St. Maarten, The Maho Gr...
How Technology Is Transforming the Future of Revenue Management for Hotels
David Millili | December 1, 2022
Next-generation tech delivers a unique competitive advantage and provides better conditions to predict, forecast, and boost future business, revenue, and profitability By David Millili If you ask any hotelier these days, “What is your focus now that demand for travel is returning?”, invariably, their answer will allude to improving pricing strategy and sales and enhancing revenue management capabilities. Why? Because the hospitality industry grapples with extremely high customer acquisition costs - one of the biggest challenges facing hotels of all types is to preserve margins. Not to mention, a typical hotel makes roughly...
81 Percent of Hoteliers See a Lift in Revenue Once a First-Party Data Strategy Is Implemented
Sojern | November 30, 2022
SAN FRANCISCO, Nov. 30, 2022-- Sojern, the leading digital marketing platform built for travel, today released the findings of a 2022 survey to discover "How Hotel Brands Are Using First-Party Data to Drive Revenue and Build Stronger Relationships." The study, conducted by Benchmark Research Partners with global hotel executives, sought to understand how hotel marketers are thinking about and using first-party data to inform go-to-market efforts. When surveyed about measures of success for their businesses, 81 percent of hoteliers said they have seen a lift in revenue as a result of implementing a first-party data strategy. Hotel exe...
Six Essential Steps Hospitality Leaders Can Take to Improve M&E Performance
IDeaS | November 21, 2022
If you asked a hotelier to tell you last night’s room occupancy, average daily rate (ADR), and revenue per available room (RevPAR), they could probably give you the answer in a heartbeat. But what happens when you ask them about meeting space utilization, revenue per available square foot, or other key metrics pertaining to meetings and events (M&E)? More likely than not, the hotelier would need some time to find the answer. But considering that M&E accounts for about 20 to 30% of revenue for the average hospitality organization, hoteliers should pay just as much attention to M&E as they do guest rooms. If not, the...
Amadeus Data Alert: US Hotel Occupancy for Thanksgiving Mirrors 2019 Volumes
Amadeus | November 16, 2022
The 2022 US holiday season kicks off with travel in high demand to warm climates Amadeus, a global leader in travel technology, with its unique ability to track forward-looking occupancy in major markets around the world, is seeing a positive trend in U.S. hotel bookings for the Thanksgiving holiday. Amadeus’ Demand360® business intelligence data shows that as of November 3, 2022, U.S. occupancy for Thanksgiving week is 29%, pacing 1% higher than 2019 (pre-pandemic) levels. Palm trees will be a common sight at the top destinations, as Hawaii, Florida, and California hold several spots on the top 10 list, with new entrants like Manha...
The 2023 Annual Budget – A Captivating Story of Intrigue and Suspense
Gary Isenberg | November 10, 2022
By Gary Isenberg As summer tumbles into fall, hotel asset managers are challenged with reviewing and approving annual budgets. As they analyze page after page of next year’s proposed budgets from their management companies with input from all facets of hotel operations — from housekeeping and F&B to maintenance and marketing — hotel and resort asset managers ought to look beyond the spreadsheets and revenue projections before concluding whether they have a best-seller on their hands. In the case of a hotel budget, the primary focus is on the revenue goal and the strategy of how it will be achieved. Since all good stories have ...
Pulse Hotels & Resorts Partners With IDeaS to Gain Market Share Through Automated Data Analysis
IDeaS | November 9, 2022
G3 RMS is selected for its seamless interface with multiple PMS platforms and central management and forecasting capabilities SINGAPORE – Nov. 9, 2022 – IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, announced today Pulse Hotels & Resorts has adopted G3 RMS across four of its Maldives-based properties to deliver accurate forecasting, better manage operational resources, and gain market share. Given its portfolio of resorts is diverse in relation to product and price positioning, Pulse Hotels & Resorts previously faced challenges in implementing a centralized, unified a...
Hospitality Financial Leadership: The Early Arrival Program
November 7, 2022
By David Lund With my workshops and speaking I often do an exercise where I challenge each leader to find a minimum of $250 in next month’s forecast that can be savings in the form of reduced payroll or expenses. It can also be a source of new revenue. The participants come up with some amazing ideas that really work. The great thing about these ideas is that we almost always get to repeat and compound. An idea that works next month works EVERY month. Read more about creating asset value here. In this piece I am going to share one of the best revenue-generating and guest-pleasing ideas that my clients have come up with. It’s someth...
Are Upselling and Ancillary Services the Future of Hospitality?
Oracle Hospitality | November 2, 2022
By Laura Calin There is much debate in the hospitality industry about the future of ancillary services and upselling. Some will argue that the ancillary revolution is not forthcoming, but the data begs to differ. A recent Oracle study found that 81% of hoteliers surveyed expect a big service model shift between now and 2025, and 49% strongly agreed that special amenities and upgrades are critical to their revenue strategy. Moreover, customers seem game for this a la carte pricing. Over half of consumers, 54%, said they are willing to pay more to choose their view; 38% to choose their room; and 32% to choose their room floor; etc. Loo...
Discover Live Demonstrates the Power of the IDeaS Community
IDeaS | October 26, 2022
User conference brings together nearly 800 attendees from around the world to foster a sense of community, discuss best practices, and engage with experts MINNEAPOLIS—Oct. 26, 2022—IDeaS, the world’s leading provider of hospitality revenue management software and services, held its annual user conference, Discover Live, from October 18-20, bringing together nearly 800 users, representing more than 9,100 properties across 57 countries. The live virtual event provided an opportunity for participants to learn from each other, explore new platform capabilities, share ideas, and ask questions of the IDeaS expert user community and i...
Online Booking Trends and Stats Every Hotelier Should Know
Brett Thoreson | October 19, 2022
By Brett Thoreson In less than 85 days, 2022 will come to a close as we usher in 2023. It’s hard to believe the speed at which this year seemed to pass, a stark (but welcomed) contrast to the two years spent in relative stillness due to the pandemic. For most of us, this past year felt like a breath of fresh air – an opportunity for social and economic redemption after one of the most challenging experiences of our time. For industries like hospitality, 2022 represented a long-awaited period of recovery, a finish line to the pandemic, and a starting line to a new landscape and a new wave of travelers eager to make up for lost time. ...
How Travel-Intent Audiences Generated Incremental Revenue for a Northwest Regional Hotel Brand
GCommerce | October 17, 2022
Like all hotels and other key players in the hospitality industry, one of our clients, a mid-size northwest hotel brand, spent much of 2020 and 2021 pivoting their marketing campaigns and brainstorming how to navigate the “new normal” when it came to travel. And while the industry was able to take advantage of the pent-up demand in 2021, there was still a significant increase in cost of media driving increased budgets just to ensure an adequate share of voice. GCommerce saw this shift in market dynamics coming and knew we needed to lower the cost per acquisition in order to be successful in our marketing efforts. Download our case stud...
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