Tech Talk discusses how the IDeaS V5i revenue optimisation solution can assist in yield decisions and leverage demand with IDeaS revenue optimisation director EMEA Fabian Specht.
When was IDeaS set up?
The company was set up in 1989 offering consulting services and initially worked on projects in the airline and car rental industries. Since 1996 IDeaS has focused on the hospitality market and started working with the hotel industry in the Middle East in 2000/2001.
The IDeaS corporate office is in Minneapolis, USA but there are also offices in Munich and London for Europe, Africa and Middle East, Sydney and Singapore for Asia Pacific and Pune in India.
WIDE Computers is our local partner in Dubai [and our supplier for the whole of the Middle East region].
What solutions does IDeaS provide for the hotel industry?
IDeas provides revenue management, optimisation and pricing solutions for the hospitality industry. IDeaS’ system connects to the hotels’ reservation systems, extracts data multiple times a day and then analyses and forecasts demand.
Based on this, an optimisation module then calculates the ideal yield decisions to optimise the demand at each moment in time, which then increases the revenue for the hotels, for example through rate controls, pricing decisions, length-of-stay controls and overbooking controls.
It also helps hoteliers to define the right price to sell at for their hotel – taking into account what their competitor hotels are doing – and assists with the distribution to central reservations system and internet channels.
How does the system help hoteliers overcome specific challenges?
It assists the hoteliers with the difficult and time-consuming task of taking the right yield decisions in order to optimise demand and increase revenues, both for transient and for group business.
It makes distribution of these decisions to the different reservation systems easier, more effective and consistent. It allows hotels to take quick and profitable group decisions. It provides the users business intelligence to take the correct mid- and long-term strategic decisions.
Interesting also, especially for the Middle East market, is our recently launched New Hotel Opening Success Package. This allows hotels basically to yield and view forecasts from day one – right from the opening.
Traditionally, hotels had to wait for 12 months after the opening to have enough reliable history data available for the yield system to be able to forecast and produce yield decisions.
Deployed as an ASP (application service provider) solution via the internet, hoteliers can access it any time from wherever they are, as long as they have internet access.
What hotels does IDeaS work with in the Middle East?
IDeaS has worked with the Jumeirah Group, Habtoor Hospitality, Emaar Hospitality, Hyatt, Hilton, Shangri-La, Kempinski, Dusit, Fairmont, Raffles and many more hotel groups within the Middle east since [its inception in] 2001 with new installations being added every year.
How does IDeaS work to develop new products for the hotel industry?
We listen to our clients and what their needs are in terms of revenue optimisation, pricing and distribution and watch out for new developments in terms of technologies, booking engines, internet and hotel developments so that we can keep developing new features and functionalities that put us always one step ahead of our competitors.
What experience does the IDeaS development team have in regards to the hotel industry?
The IDeaS team has a wide range of experience, working with many international groups such as Hilton International, Hyatt, Shangri-La, Mandarin Oriental, Kempinski and the Jumeirah Group.
What are IDeaS’ future plans for the Middle East?
IDeas will look to grow its presence and installation base in Dubai and throughout the Middle East, along with all the exciting hotel projects and openings in this region, and establish the company as the revenue management experts and partners for any hotel or hotel group wanting to do business in this region.
It will then look at other markets in need of revenue management and pricing solutions to create successful partnerships and business relations with local and international companies.
Function:Revenue optimisation and pricing.
Comment:The IDeaS V5i analyses demand patterns, forecasts demand, optimises and produces yield restrictions to optimise demand and increase revenues. It also provides business intelligence to allow for better strategic decisions and positioning withing a market and competitive set.
Visit:www.ideas.com
Contact:[email protected]
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