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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.