Revenue Technology Needs to Take Risks
The inherent nature of revenue management is mathematical and scientific. But while revenue management and specifically, the hospitality industry, might drive forward with advanced principles of science and math, its survival depends largely on its heart.
Why Cancelling & Re-Booking is Killing Your Revenue
Why do guests cancel and re-book hotel reservations? Well, that’s easy: Because they can, and because it makes economic sense—people don’t want to spend more money than they have to. In the eye of the traveler, freeing up money on a hotel stay frees up money to spend on other enjoyable aspects of a trip.
Revenue Managers Succeed with a Series of Right Moves, at the Right Time
Chess is a well-known game of analysis. When playing for the first time, one often lacks the knowledge to think strategically. Over time, however, one begins to weigh possible outcomes for every decision, even when it’s their opponents turn. The ability to understand and analyze all potential scenarios and outcomes will lead to more wins. […]
From Tech Start-Up to Industry Leading Revenue Solutions Provider
When Ravi Mehrotra and Sanjay Nagalia launched IDeaS Revenue Solutions in 1989, the concept (and viability) of a start-up tech company wasn’t typically associated with the same dazzling, Silicon Valley-type startups we have come to know today. In fact, while Ravi and Sanjay held big dreams for transforming the hospitality industry with their ground-breaking, scientific […]
The 12 Gifts of RMS: Innovation
For the eleventh gift of revenue management, my RMS gave to me the pursuit of innovation Powerful analytics (The right) big data A Magic 8 Ball Group business management Optimal pricing Online reputation insights Remote accessibility Experienced client support teams On-demand performance support And a dashboard with revenue to oversee From watches that moonlight as […]