IDeaS Revenue Solutions, the leading provider of pricing and revenue management software, services
and consulting, to the hospitality industry, today announced that Travelodge, the UK's leading budget
hotel company, has implemented a pioneering, centralised approach to revenue management using
IDeaS' state-of-the-art analytics and pricing recommendations. Travelodge has been working with IDeaS to manage its revenue management needs for over 10 years,
during which time the company has applied an increasingly sophisticated approach to revenue
management. With leading revenue management technology and techniques provided by IDeaS in place,
Travelodge is well positioned to capture revenue opportunities in all market segments and economic
conditions. To read more about the long-standing partnership between the two organisations, please
visit: IDeaS & Travelodge Case Study . As the practice of revenue management has evolved over the years, many hotel groups have chosen to
place a revenue manager at each property, or in small regional clusters. However, today's
announcement means that Travelodge has re-engineered this traditional model, and shown how
cutting-edge revenue management technology can enable hotel groups to have their revenue
management needs effectively managed by a centralised team. For a hotel chain of its size – with over 500 hotels throughout the UK, Ireland and Spain – Travelodge
has introduced a pioneering revenue management structure, supported by just 20 centralised revenue
managers, who are responsible for all hotels, representing 37,000 rooms. In 2004, Travelodge implemented both the IDeaS Revenue Management System (RMS) in order to
increase automation to support the continued growth of its business; and the IDeaS New Hotels
Success Service Package (NHSSP), which allows each new Travelodge hotel to have a fully functioning
revenue management system in place producing forecasts and automated decisions before it opens. In 2010, Travelodge and IDeaS Consulting undertook an extensive business review to define how best
to maximise revenue management performance for a portfolio that had since doubled in size. As a
result, IDeaS helped Travelodge move to dynamic pricing by installing its Best Available Rate (BAR)
module. Furthermore, Travelodge used IDeaS' powerful Price Optimization Service to find the ideal rate
spectrum for each hotel. Finally, IDeaS helped Travelodge revise their revenue management Standard Operating Procedures
(SOPs), and delivered a series of user training programmes – conducted by IDeaS expert instructors
through a blended mix of e-learning, onsite training and webinar training. An accompanying IDeaS RMS
Certified Trainer Certification Programme provided the hotel chain with the knowledge and skills to train
revenue mangers independently. Commenting on these developments, Peter Manby, Revenue Director at Travelodge, said: "One of the
best results of the training is the impact on the staff who are now trainers – the excitement and
motivation they have derived from it is excellent." Paul van Meerendonk of IDeaS Consulting said: "We worked with Travelodge to revise its revenue
management practices and the chain is now operating one of the most advanced centralised revenue
management models we've seen. Travelodge's revenue team is highly efficient, streamlined and
productive – a great case study in industry best practice." "We want our hotel managers to focus on our customers, which is why we now have a central team of
professional revenue managers in place to deliver the right pricing decisions for all our hotels. While
centralised revenue management can help large chains capture the benefits of scale, it only works if
people, processes and revenue management technology are all aligned – and it is for this reason that
we continue to choose to partner with IDeaS, and why this pioneering approach works so well," added
Peter Manby. In conjunction with their collaboration with IDeaS, Travelodge's people, processes and technology are
all working in harmony, and the chain can be confident it has the revenue management model and
culture to match its ambitions. About Travelodge | The first budget hotel brand to launch in the UK in 1985,
Travelodge now operates over 500 hotels and 37,000 rooms across the UK, Ireland and Spain. More
than 16.5 million people stayed with Travelodge last year and 90% of reservations are currently made
online at www.travelodge.co.uk, which is
the UK's most visited hotel website, attracting over 1.1 million visits each week. Travelodge is benefitting from a £223 million brand investment this year, which includes a £57m
refurbishment programme across its estate and a brand new room concept created by Travelodge
customers. This programme kicked off on the 4th March 2013 and will be completed in autumn 2014. In addition to offering more comfort, style and quality, the new room features the Travelodge Dreamer,
a new luxury king size bed deemed in the industry as the 'Rolls Royce' of beds. 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.
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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