شائع في Operations
شائع في Revenue Management
شائع في Marketing
شائع في Guest Experience
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REVENUE MANAGEMENT
IDeaS Uncovers New Revenue Opportunities in Oversaturated Market, Delivering ROI in 12 Days
To ensure Hotel Arts can attract visitors and grow occupancy, Strachan and Hotel Arts’ leadership were looking for a way to optimize pricing strategies. They knew an automated, intelligent revenue management tool could help the hotel make more strategic business decisions and optimize revenue throughout the year.
Tapping into automation: Hotel Arts understood the power that automated revenue management brings to Hotel Arts
Increase low weekend occupancy: By leveraging the powerful forecasting and analytics in IDeaS G3 RMS, Strachan was able to determine that leisure guests represented an untapped revenue source for Hotel Arts, but that the company would have to shift its thinking to take advantage of the opportunity.
Identify opportunities: Within the first several months of use, Strachan and his colleagues had the data that clearly showed certain group blocks were less profitable than other business and the right strategy was to target more transient guests.
Innovators Mentioned
Director of Revenue
Hotel Arts
"A new system encouraged us to shift our behaviors—fighting the system would only mean that we’d still be pricing the same way we always had. The training and resources from IDeaS during and after implementation were extremely helpful. They taught us how and why to trust in the system’s outputs. Now, we’re strategically distributing lower rates where it will equate to more revenue. Without a tool like IDeaS and the confidence we have in its decisions, our leadership would have never agreed to that strategy."
Kyle Strachan
Director of Revenue
"A new system encouraged us to shift our behaviors—fighting the system would only mean that we’d still be pricing the same way we always had. The training and resources from IDeaS during and after implementation were extremely helpful. They taught us how and why to trust in the system’s outputs. Now, we’re strategically distributing lower rates where it will equate to more revenue. Without a tool like IDeaS and the confidence we have in its decisions, our leadership would have never agreed to that strategy."
Director of Revenue Kyle Strachan said, about their decision: "We effectively removed an entire segment from our hotel, because we knew the revenue potential was bigger coming from the transient leisure sector,” said Strachan. “In making this change, we believe IDeaS paid for itself in the first two weeks and the tool continues to provide incredible value to our organization. It allows me to spend more time being strategic and coaching our staff on how to leverage the data and analytics from the IDeaS. The results speak for themselves."
30% RevPAR uplift for summer weekends
Occupancy rate increased to over 90%
Re-evaluate both its competitive set in the market and its pricing strategy to better target leisure travelers
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