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REVENUE MANAGEMENT

Oxford Collection Aligns Teams and Tools with RevPlan

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Oxford Collection is a unique player in the hotel industry, known for hotels tailored to their local markets. Oxford Collection leveraged IDeaS RevPlan to overcome challenges like a fragmented forecasting process across multiple properties to achieve significant business improvements.
Why it matters: Before implementing RevPlan, Oxford Collection lacked a unified system for revenue forecasting. Each hotel’s general manager was responsible for submitting their own forecast, which meant the revenue strategy team had limited visibility into how those numbers were derived. While the forecast accuracy was acceptable from property to property, the absence of a standardized process created a disconnect between property-level insights and corporate oversight.

  • This gap made it difficult for the corporate team to review and validate forecasts in a timely manner, leading to delays in expense planning and ultimately affecting the company’s bottom line. The need for greater transparency, consistency, and control in forecasting became a clear catalyst for change.

Top 3 Core Objectives: Centralize and standardize revenue forecasting process to improve visibility, transparency, and control across all properties. The objective was to align forecasts more closely with financial goals and enhance expense planning through improved accuracy and efficiency.

  • Consolidated system for forecasting: Oxford Collection needed a centralized platform to unify forecasting across all properties, replacing fragmented, property-specific processes. This would ensure consistency and alignment with corporate-level planning.

  • Visibility into forecasting methodology: The corporate team lacked insight into how individual forecasts were created. Gaining transparency into the underlying assumptions and methods was essential for more informed decision-making.

  • Review and validate forecasts: Delayed access to forecasts made it difficult for the corporate team to review and validate submissions promptly. A streamlined review process was needed to support timely expense planning and operational efficiency.

IDeaS

A Forecasting and Budgeting Solution That Will Transform How Your Hotel Forecasts and Plans Rooms and F&B

4.5 22 REVIEWS

Innovators Mentioned

Oxford Collection
IDeaS
Niklas Enquist
The hotelier hasn't yet verified the case study.

Vice President of Revenue Strategy

Oxford Collection

"RevPlan provides a consolidated system that allows me to access each forecast for the upcoming months and to understand what the hotel teams are anticipating. I can then provide guidance on how to tweak the forecast for improved accuracy. For Oxford Collection, this is less about the topline revenue forecast accuracy but more so about implementing an expense plan that supports improved efficiencies and GOP."

Niklas Enquist

Vice President of Revenue Strategy

👍 Vice President of Revenue Strategy Niklas Enquist said that RevPlan enables centralized access to forecasts, allowing for strategic guidance that focuses on improving expense planning and operational efficiency rather than just topline revenue accuracy.:

  • "RevPlan provides a consolidated system that allows me to access each forecast for the upcoming months and to understand what the hotel teams are anticipating. I can then provide guidance on how to tweak the forecast for improved accuracy. For Oxford Collection, this is less about the topline revenue forecast accuracy but more so about implementing an expense plan that supports improved efficiencies and GOP."

⚖️ The selection process: During their research process, Niklas Enquist evaluated IDeaS's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that IDeaS was the best fit solution:

  • Vice President of Revenue Strategy Niklas Enquist said, about their decision: "The seamless connectivity between RevPlan and G3 RMS is key for our team at Oxford Collection. The General Managers and Revenue Strategy teams operate within G3 RMS daily. Having our systems in a cohesive ecosystem streamlines our day-to-day tasks."

📈 The results: The implementation of RevPlan enabled Oxford Collection to streamline and centralize its forecasting process, resulting in improved accuracy, greater transparency, and better alignment with financial goals. This transformation also led to significant time savings and more efficient collaboration between property-level and corporate teams.

  • Centralized, transparent forecasting process

  • Accurate forecasts are aligned with financial goals

  • Time savings with readily available information

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