IDeaS RevPlan Total Revenue Forecasting Module to Be Piloted by Loews Hotels & Co
Loews Kansas City (source: Loews & Co)
Loews Kansas City (source: Loews & Co)
IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today Loews Hotels & Co will pilot the total revenue forecasting module in IDeaS RevPlan, a cloud-based tool that streamlines forecasting and budgeting processes for rooms, food and beverage, and other income. Loews has already successfully leveraged RevPlan’s automated financial forecasting capabilities for guest rooms, gaining significant time savings across its portfolio. The company will now move to the next phase of its RevPlan rollout by piloting automated food and beverage and other income forecasting and budgeting to drive greater efficiency and profitability.
Monica Xuereb, chief revenue officer, Loews Hotels & Co, said: “IDeaS RevPlan has become a vital tool for our revenue team, saving us time each month, which used to be spent creating and managing forecast spreadsheets. With the success we have had with RevPlan’s rooms forecasting, the team is confident the food and beverage forecasting module is the next step in taking us toward a scientific total revenue forecast and closer to our goal of total profit optimization.”
Sanjay Nagalia, co-founder, chief operating officer and chief technology officer, IDeaS, said: “Hoteliers face many challenges when it comes to planning and budgeting their total business. That’s why we developed RevPlan for our clients like Loews. RevPlan enables Loews to make tactical and strategic operational decisions based on data they can trust, and now the day is finally here when a hotel’s food and beverage forecast can be as accurate and precise as a rooms forecast.”
About Loews Hotels & Co
Headquartered in New York City, Loews Hotels & Co is rooted in deep heritage and excellence in service. The hospitality company encompasses branded independent Loews Hotels, and a solid mix of partner-brand hotels. Loews Hotels & Co owns and/or operates 26 hotels and resorts across the U.S. and Canada. For reservations or more information about Loews Hotels, call 1-800-23-LOEWS or visit: www.loewshotels.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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IDeaS a SAS company
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