Remarkable Hotels Sees 19 Percent Uplift in Rooms Revenue with IDeaS Revenue Management System
IDeaS also helped the 73-room property increase overall sales by 15 percent and average occupancy by 12.5 percent in a competitive local market
IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, announced today that Remarkable Hotels has seen a 19 percent increase in rooms revenue since implementing IDeaS Revenue Management System (RMS).
Remarkable Hotels’ Best Western Plus Nottingham Westminster Hotel is a 73-room property in the central English city of Nottingham. When the growth of its newly renovated hotel began plateauing, the management was confident a sophisticated and stable RMS was the key to expanding the property’s business and profitability.
· Manual spreadsheets no longer working – When the uptick in average daily rate and occupancy initially gained after re-opening began to ebb away, owner/operator Al Malik realised his manual spreadsheet system for determining room rates was missing something.
· Seeking peer advice – Malik’s quest to boost efficiency led him to approach rival hotel operators where he discovered several were using IDeaS RMS. After receiving a demonstration of the platform’s advanced features, he knew he’d found the solution he was seeking.
· Remote monitoring and updating – IDeaS RMS has empowered the staff at Remarkable Hotels to make robust improvements in performance with an increase of 15 percent in overall sales, 12.5 percent occupancy and 19 percent in rooms revenue. These positive results have allowed Malik to instill a better work/life balance by providing him with the automated technology to manage his hotel remotely.
Al Malik, owner/operator, Remarkable Hotels, said: “I used to spend my days buried in data and I knew that basing key pricing decisions on human intuition meant we were leaving money on the table. I knew I needed to base my business on scientific analysis—guesswork was not going to generate an effective return on my refurbishment costs.
With IDeaS RMS we have now raised our rates for our peak demand days and are confident the prices reflect the local market and, in particular, what our competitors are charging. I know the system is always there in the background, automatically working for me.”
Dr. Ravi Mehrotra, president, founder and chief scientist, IDeaS, said: “IDeaS RMS is not only for large hotels—in fact, the power of the system provides the tools needed for any size property to ensure increased profit margins and consistent data analysis. We are pleased to provide a game-changing system that helps Mr. Malik and Remarkable Hotels drive profitability and stay competitive.”