IDeaS Revenue Solutions, the leading provider of pricing and revenue management software, services and consulting, today announced a new partnership with The Claridges Hotel New Delhi, which will see the hotel draw on IDeaS' industry leading hospitality consulting support and pricing solutions, to better manage revenue strategies and build a sustainable revenue culture across the property.
The Claridges New Delhi is the flagship hotel of The Claridges Hotels & Resorts group, set amid the center of the city in close proximity to the business district, shopping and cultural centers and historical landmarks. The hotel seeks to recreate the magic of old-world charm coupled with gracious Indian hospitality across all of its 140 rooms. Given the highly competitive hotel environment in New Delhi, The Claridges recently sought to improve their yield management strategies to maximize revenue and enhance their overall approach to pricing. "Revenue yield management was not something practiced with great discipline in the past at The Claridges New Delhi," said Markus Schneider, General Manager, The Claridges. "We realized that to maximize our bottom line and stay ahead of competing hotels we needed to implement advanced strategies and technology to improve our yield management. Our hotel runs above 95% occupancy for at least 150 days of the year and being able to maximize revenue from guests during periods of peak demand is critical to our ongoing success." In working with IDeaS, The Claridges New Delhi has turned to IDeaS Hospitality Consulting services - and specifically their Virtual Revenue Management service - to build a revenue culture within their hotel from the ground up. This involves having an IDeaS Hospitality Consulting revenue management specialist working with the hotel to educate staff on best practice strategies, and deploying advanced pricing technologies like the IDeaS Revenue Management System (RMS). "New Delhi is a competitive market for any hotel and for a property to be successful, it is vital that they maximize revenues from all guests," said Sivaprasad Gangadharan, Regional Director Subcontinent Sales for IDeaS. "Through working with IDeaS, The Claridges New Delhi will have on hand a dedicated revenue specialist who is an expert in pricing, revenue management, distribution and asset management. Through decades of experience and instituting best practice hospitality strategies around the world, the hospitality consultant will be central to driving major pricing decisions and educating the staff to build a revenue management culture. The technology being deployed will also ensure The Claridges New Delhi will be able to make strategic decisions with a clear view of their competitors' positions and determine correct pricing for their property's rooms and group bookings." Importantly, the IDeaS RMS' Best Available Rate (BAR) technology will allow The Claridges New Delhi to accurately quote the optimal rate for their hotel rooms to potential guests in the future. "Although we have only just started working with IDeaS, we can already see improvements in our approach to revenue management. Being able to make pricing decisions based on facts rather than educated guesses provides reassurance and will benefit our business," said Markus Schneider, General Manager, The Claridges. "The key for us is that IDeaS delivers a clear way for The Claridges New Delhi to assess the hotel's performance, accurately forecast occupancy and business demand, and determine the correct pricing for hotel rooms." IDeaS is committed to working closely with hotel organizations throughout India to support them in reaching their optimal revenue and profit levels by focusing on the development of a strong revenue management culture. IDeaS, a SAS company, is the world's leading revenue management software and services provider. Combining industry knowledge with innovative data analytics technology, IDeaS creates sophisticated yet simple ways to empower revenue leaders with precise, automated recommendations they can trust. With 35 years of expertise serving hospitality, including hotel, event, and parking clients, IDeaS delivers revenue science to more than 30,000 properties in 164 countries around the world. Results delivered. Revenue transformed. Discover greater profitability at IDeaS.com.
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