RMS today announced a new partnership with IDeaS Revenue Solutions, offering its 6000 customers access to world-leading revenue management technology that will give hoteliers and holiday park owners the tools to maximise prices and occupancy.
IDeaS takes the guesswork out of setting rates and increasing income by using historical data and relevant market data to accurately forecast future demand and occupancy levels, enabling operators to better manage their inventory.
For example, the IDeaS system can be used in conjunction with the RMS Dynamic Pricing module to set price points that maximise profits for the most in-demand room or cabin types.
“We’re really excited to partner with IDeaS,” says RMS Managing Director Peter Buttigieg.
“It’s an incredible system with a long history of performance. We did a lot of testing and were really impressed with the intuitive nature of the IDeaS technology and its ability to deliver improved revenue for users.”
Joseph Martino, senior vice president and chief business development officer for IDeaS, says the integration will give RMS customers a competitive advantage.
“It will empower forward-looking properties to create a more confident revenue strategy with the ability to analytically price room types based on demand rather than manually setting business rules,” says Martino.
The RMS integration features the IDeaS G3 Revenue Management System (G3 RMS), which utilises data-driven advanced analytics to determine pricing for room types, overbooking and which business to accept based on length of stay and overall revenue.
Client studies show a revenue boost of up to 7% when using IDeaS compared with standard revenue management practices, while if the hotel has no prior revenue management strategy or technology, a revenue uplift of up to 15% may be experienced.
Key benefits for users include:
- Forecast and report with greater accuracy using granular transaction data
- Set optimal pricing through advanced price sensitivity modelling
- Assess the impact of decisions prior to making them using risk-free, “What-if” analysis
- Improve staff efficiency and reduce time spent on tactical activities
- Elevate overall profitability and competitiveness
The IDeaS Revenue Management interface module is not included in the base RMS Cloud subscription fee. Get in touch with your account manager for pricing related enquiries.