Articles tagged “IDeaS Revenue Solutions”

Hilton reported its third-quarter earnings on Wednesday. During a call with investment bank analysts, executives were asked what role the company's software for setting rates may play in the company's…

Hyatt's move to change its revenue management software foreshadows a broader trend. Expect more hotel companies to embrace automation while looking at a bigger picture than just the supply and demand of rooms.

IDeaS’ “Revenue Optimization Handbook for New Hotels” outlines how hotels and resorts can maximize revenue opportunities and commercial performance before opening and showcases why developing a structured pricing strategy is an essential part of the pre-opening phase.

Sophisticated revenue management systems will undoubtedly become more commonplace in the hotel industry, but today still only a small minority of hotels use them. There is a lot of room left for growth, innovation, and disruption.

IDeaS, which makes software to help hotel owners set their room rates, boosted its financial performance in 2020 without layoffs. But this year brings unique market conditions for its hotel customers. So a lot depends on the launch of its new service, Optix.

No matter the situation, hotel revenue managers need to figure out how to stack the right building blocks to forecast accurately, price with confidence, and maximize profitability. Taking small steps toward a more holistic approach to revenue planning and strategy is a smart — yet realistic — way to make this happen.

Granted, this crisis is unprecedented. Yet hotels worldwide can learn lessons from how hotels have faced regional shutdowns, such as in Asia-Pacific in recent months, in Las Vegas after the shooting rampage, and elsewhere after hurricanes and financial crises. Managing room rates and marketing offers is critical to making the most of a rebound in demand.

Software may be eating the world, but in hotel tech it's still munching on the appetizers. Hotels have only begun to automate operational forecasts, such as how much revenue restaurants on a property may bring in or how much group business a hotel might steal from a crosstown rival.

Hoteliers are under pressure to deliver high profit margins, but are saddled with bulky legacy revenue systems. While transforming all operations might appear daunting, having the right technology strategy is crucial to driving profits.

An overview of revenue management challenges for hospitality brands Actionable takeaways on how to overcome these challenges A five-step guide to thriving in today’s rapidly evolving travel ecosystem A list…