IDeaS Revenue Solutions, a SAS company and the leading provider of pricing and revenue management software, services and consulting to the hospitality industry, today announced the expansion of its consulting capabilities with IDeaS Price Optimization Service. Amid the age of dynamic pricing—real-time pricing based on demand and customer type—IDeaS Price Optimization Service helps hotel companies uncover rich insights into their pricing strategies and create best available rate (BAR) price points that optimize revenue across their estate. "During the last 10 years, revenue management has progressed significantly and become much more sophisticated, making it nearly impossible to manually create pricing strategies for more than 500 hotels," said Peter Manby, revenue director, Travelodge. "We decided to use IDeaS' Price Optimization Service while developing a more centralized revenue management environment and the impact of the new pricing strategy has been tremendous. We've seen significantly increasing occupancy and RevPAR, as well as growth in our relative market position versus our competitors." Using the world-class power of SAS® Analytics, IDeaS Price Optimization Service applies scientific analysis to clients' unique, historical transaction-level data to deliver improved pricing structure recommendations. Combined with IDeaS' extensive hospitality industry experience and proprietary pricing models, the service helps clients determine the optimal BAR price points based on price sensitivity of demand and capacity distribution for room type, day of week, length of stay and even seasonality. In the process, the service helps eliminate the sometimes manual, subjective and incomplete nature of traditional pricing methods and helps hoteliers create more precise price points with quick, time-to-value returns. "Many organizations don't fully appreciate the enormous impact pricing has on profitability," said Brian Sterrett, vice president of global sales, IDeaS. "Studies show that improvements in pricing typically have three to four times the effect on profitability as proportionate increases in volume. Using IDeaS Price Optimization Service, hoteliers gain a more scientific approach to pricing that helps ensure the most optimal rates for their properties." To learn more about IDeaS Price Optimization Service and how it helped Travelodge achieve increased occupancy and RevPAR, view www.ideas.com/index.php/consulting. For more information about IDeaS, please visit www.ideas.com. 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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25 April 2014
 Grand Hotel Amrâth Amsterdam Prins Hendrikkade 108 Amsterdam, 1011 AK Netherlands, The |
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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