revenue optimization
BWH Hotels Scandinavia’s Revenue Center Selects FLYR for Hospitality as Preferred Revenue Management System
FLYR | December 6, 2023
With FLYR’s AI-driven revenue management system, BWH Hotels Scandinavia’s Revenue Center will be able to unlock next-level decision intelligence and automation for 56 properties – delivering maximum revenue potential and operational efficiency Los Angeles, CA (DECEMBER 6, 2023) – FLYR, the AI-powered platform for travel technology, today announced that BWH Hotels Scandinavia, a leading global hospitality network that includes Best Western Hotels & Resorts (BWHR), Worldhotels, and Sure Hotels, has selected FLYR for Hospitality as its preferred Revenue Management System (RMS). This strategic decision will strengthen BWH Hotels’...
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...
Why Legacy Systems Can Limit Revenue Potential When It Comes to Attribute-Based Selling
Aaron Shepherd | November 28, 2023
By Aaron Shepherd Are outdated technologies preventing your hotel from meeting guest expectations and maximizing profitability? In the hotel industry, profitability is increasingly influenced by a variety of market changes, including the introduction of new technologies, shifting consumer preferences, and fluctuating operational costs. In response to these challenges, the industry is turning towards innovative pricing strategies, with Attribute-Based Selling (ABS) (also known as attribute-based pricing) emerging as a notable trend. Research from the Hotel Electronic Distribution Network Association (HEDNA) suggests that hotels implement...
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...
The Dark Side of Revenue Management: Avoiding Ethical Pitfalls
Connor Vanderholm | November 16, 2023
By Connor Vanderholm The Temptation of Hidden Fees Rate Manipulation Let’s face it; we’ve all been tempted to play with rates to boost revenue. It’s the oldest trick in the revenue management book, you might even say that’s exactly what revenue management is. But I’m specifically referring to the practice of lowering prices during the booking process, then adding hidden fees later. The guest feels like they’ve been duped, but hey, you’ve made a few extra bucks, right? Now, I’m not saying this is the path to take, but it’s a path some hotels have chosen. And while it might pad the bottom line temporarily, it’s a risky ...
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...
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