profit optimization
Driving Profitability With Precision: AI’s Pivotal Role in Revenue Management?
Andrew Rubinacci | November 30, 2023
By Andrew Rubinacci Revenue management systems play a critical role in the hospitality industry. Traditionally, these systems attempt to predict future demand from past trends to optimize pricing. That’s a reasonable approach. But as the pandemic taught us, relying on the past to predict the future doesn’t always work - the unexpected still occurs. Now, what if I told you it was possible to predict future demand based on current trends? How would that impact your pricing strategies? We’ve come a long way since the first RMSs hit the scene. And the recent advancements in artificial intelligence have made them more powerful (and rel...
Tips To Optimize Hotel Management Operations
Russ Spencer | November 27, 2023
By Russ Spencer For hotel operators, customer satisfaction is the lifeblood of business. It’s important to keep guests satisfied and create a memorable experience to keep them returning. While guest occupancy remains the top source of income for hotel operations, there are ways to transition business models to add new, fruitful revenue streams. An important aspect of hospitality services to consider is the food and dining experience. When vacationing or traveling for business or personal affairs, hotel customers look for dining experiences that are convenient and enjoyable. Vacation is all about relaxing and indulging, and there is no be...
From Silos to Synergy: Getting Commercial Teams on the Same Page
Lynn Zwibak | November 21, 2023
By Lynn Zwibak Now that the hotel industry has moved away from siloed departments, you expect your commercial teams to work together. But that’s impossible when each department is still operating independently. Team members outside the revenue-management department often feel mystified by the hotel’s pricing and availability decisions. And that’s holding your hotel back. Picture this: The marketing team dreams up a brilliant marketing campaign. They design beautiful content with compelling text, get it in front of the public through all the proper channels, and then celebrate its success. But the hotel misses forecast and the S...
IDeaS Releases 2024 Hotel Technology Predictions
IDeaS | November 15, 2023
Gathering insight from industry leaders around the world, IDeaS prognosticates on what may be in store for 2024 MINNEAPOLIS—Nov. 15, 2023 — IDeaS, a SAS, company, the world’s leading provider of hotel revenue management software and services, released Future Forecast: Six Hotel Technology Predictions for 2024. Gathering information from some of the top minds in the industry, IDeaS releases six bold hotel technology predictions that it believes will shape the year to come. Key predictions include: • The continued breakdown of hospitality data silos: The hospitality industry collects an incredible amount of valuable guest data, b...
IDeaS Announced as Platinum Sponsor for 2024 Global Revenue Forum
IDeaS | November 6, 2023
Leaders from IDeaS and Starwood Capital to kick off the 2024 conference with an innovative executive fireside chat LONDON—Nov. 6, 2023—IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today its participation in the 2024 Global Revenue Forum as a platinum sponsor. As part of the sponsorship, Joe Pettigrew, chief commercial officer for hotel asset management at Starwood Capital Group, will be joined by Klaus Kohlmayr, chief evangelist and chief development officer at IDeaS, for an address to kick off the conference. IDeaS plans to marshal the latest in innovative tech...
Katathani Collection Grows Resort Revenue by 15 Percent With IDeaS G3 RMS
IDeaS | November 1, 2023
Real-time analysis and precise room-type pricing elevate Thai-based resort’s revenue management approach SINGAPORE – Nov. 1, 2023 – IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, today announced that Katathani Collection has grown revenues across two of its resort properties by 15 percent with IDeaS G3 Revenue Management System (RMS.) Katathani Collection adopted IDeaS G3 RMS across two properties: Katathani Phuket Beach Resort and The Shore. Katathani Collection is an award-winning, Thai-based hospitality group operating in Phuket, Khao Lak, and Chiang Rai. Faced with grow...
Desa Potato Head Adopts IDeaS G3 RMS Following Business Expansion
IDeaS | October 11, 2023
Hotel and resort in Bali turns to IDeaS to drive commercial performance and uncover new revenue SINGAPORE – Oct. 11, 2023 – IDeaS, a SAS company, the world’s leading provider of hotel revenue management software and services, today announced that iconic Indonesian hotel-resort, Desa Potato Head, has adopted IDeaS G3 Revenue Management System (RMS). Following a recent business expansion, this adoption will refine its revenue management approach and deliver room-type optimisation. Desa Potato Head recently expanded from a boutique property with 58 suite-only units to a diverse accommodation offering of 225 units, including suites an...
How Hoteliers Are Using AI for Revenue Management
Dr Cindy Heo | October 2, 2023
By Dr. Cindy Heo Hotel revenue management is the process of optimizing revenue by predicting demand and setting prices accordingly, most commonly found in hotels to forecast occupancy in order to maximize their room rate, hotel marketing strategy, and overall property performance. It's a complex and ever-evolving field for a revenue manager to navigate, with many channels and tools to keep up-to-date with. But it is a key function for any hotel that wants to remain competitive in today's marketplace to get a firm handle on in order to welcome more guests through their doors. Today, Artificial Intelligence is making the job of data analysis...
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