MINNEAPOLIS, MN -- IDeaS, Inc., announced that its yield management system, IDeaL/YIELD, has been selected by BT Hotel Group (BTH) to assist in maximizing revenues at the largest property in its portfolio of hotels, the Hotel Inter-Continental Sydney. The system is expected to go live in late March or early April 1999. BT Hotel Group and IDeaS have agreed on a performance-based contract where financial guarantees have been put in place. "We are very pleased that IDeaS had the confidence to stand behind their product, hence minimizing our investment risk," said Mr. Ben Aiken, Hotel Asset Manager with BT Funds Management. "We see this partnership with IDeaS as a further step in our active asset management focus, and one which provides a strong upside in hotel profits through better yield management," Mr. Aiken added. IDeaS and BT Hotel Group have agreed to use the IDeaL/RESULTS measurement process at Hotel Inter-Continental Sydney to isolate and measure the increase in yield. This allows IDeaS' clients to understand the contribution the yield system is making to the business, separate from market demand, pricing, market mix, or other factors that constantly affect Revenue Per Available Room (RevPar). "The measurement technology is central to the performance contract, and combined with the performance guarantees, gives both parties an incentive to ensure that the project is an ongoing success," said Mr. Aiken. "We are very pleased to be providing our IDeaL/YIELD management system to Hotel Inter-Continental Sydney," said Dr. Subhash Gupta, Chairman and CEO of IDeaS, Inc. "The processes and procedures we have in place for the implementation of yield management at a property are second to none and allow us to provide performance guarantees of the nature we have committed to." The yield management solution from IDeaS optimizes room revenues for hotels and resorts by ensuring that rooms are sold at the right time, at the right price, and in line with the specific hotel's management strategies. The system also enables effective evaluation and placement of group reservations and pricing to increase overall revenues. IDeaS, Inc., develops and markets yield management solutions exclusively for the hospitality industry. With its corporate headquarters in Eagan, MN, IDeaS also maintains sales and service offices in London, Munich, San Francisco, Singapore and Sydney. For more information, visit 651-905-3275.
Contact
Gary Pettis
Phone: +1 651 452-7347
Email: gary.pettis@idealyield.com
Organization
IDeaS a SAS company
https://ideas.com
8500 Normandale Lake Boulevard, Suite 1200
USA
- Minneapolis, MN 55437
Phone: (952) 698-4200
Email: info@ideas.com
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