Revenue management technology is becoming increasingly accessible to all sizes of operation, giving operators the opportunity to maximise profitability across all assets of their business. Elly Earls reports


ON THE MONEY


Goodbye spreadsheets. Hello, automation.


IDeaS delivers revenue-enhancing decisions you can trust. Our cloud-based solutions infuse deep industry knowledge with advanced mathematics, empowering you to forecast accurately, price with confidence, and maximise profits, anytime, anywhere.


Sponsor’s comment: IDeaS


S ©2019 Integrated Decisions & Systems, Inc. (IDeaS - A SAS COMPANY) – All Rights Reserved. TJAD0061-00-UK-ID


A pioneer and global technology leader, IDeaS offers industry- leading revenue management solutions for businesses of all types and sizes in the global hospitality and travel industries. We transform the right data into clear and actionable insight, so that our clients can price, forecast and report with speed and confidence, improving business performance. Throughout our history, our


mission has been the same. We want to make revenue management so user-friendly, insightful and profitable that you wouldn’t dream of doing it any other way. IDeaS, a SAS company, is


the world’s leading provider of revenue management software and services. With more than 30 years of expertise, IDeaS delivers revenue science to more than 11,000 clients in 129 countries. Combining industry knowledge with innovative, data-analytics technology, IDeaS creates sophisticated yet simple ways to empower revenue leaders with precise, automated decisions they can trust. Results delivered. Revenue transformed. Discover greater profitability at ideas.com.


14 | Technology Prospectus 2020


Discover greater profitability at ideas.com. Results delivered. Revenue transformed.


ophisticated revenue science is no lon- ger the preserve of global hotel groups. Recent research conducted by eHotelier has identified that during the last 12 months there has been increasing usage of revenue management strategies across the sector, with smaller groups and individual operators investing more extensively in analyst roles and the technology to support the function. This is due in part to the increased avail- ability of affordable revenue management technology, as more start-up companies enter the sector, which has made it easier for hotel revenue managers to delve deeper into com- petitor analysis, extract the cost of customer acquisition and develop more personalised packages for their guests.


In addition, the discipline itself is evolving, say Debra Adams from the HOSPA revenue management programme.“Revenue manage- ment focuses on the optimisation of the assets of the business to maximise yield by concen- trating on selling the right product to the right customer at the right time for the right price,” she explains.


“The next step in this exciting journey is the move to focus on guest-centric revenue management, which can include personalised website experiences, attribute pricing for a guest-focused experience, through to guest recognition and guest profitability analysis. “The most advanced revenue management systems today can deliver this guest-focused approach while ensuring that the revenue management strategies maximise profitabil- ity across all the assets of the business.” Klaus Kohlmayr is chief evangelist at SAS company IDeaS, which provides revenue management software and services to more than 10,000 clients in 124 countries. He says the next 12 months will see revenue manage- ment technology’s reach expand further. “This is not only the golden age of travel, but also the golden age of revenue man-


11/2019


Best of Class RMS for high-performing Revenue Leaders Harness the Power of Revenue Science


agement,” he says. “Many of the things we have been talking about for years are now being made possible by advances in science and technology.” Specifically, he believes, we will see reve-


nue management being made available for more types of hotels (not just big, complex ones), for more types of revenues (beyond rooms revenue) and for more types of leaders (moving from revenue management to com- mercial leadership). “With two billion additional people expected to have the means to travel in the next 15 years, the number of hotels that will need revenue science will dramatically increase,” he notes.


LOOKING PAST GUEST ROOMS Adams agrees that more hotels do seem to be looking past just rooms and starting to incor- porate other revenue streams, including F&B and meeting spaces, into their revenue man- agement strategies. However, there are some challenges that hotel revenue managers regu-


www.thecaterer.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60