As we round the corner and push on into the new year, there’s understandably a lot of excitement for what lies ahead—and don’t get us wrong, we certainly expect to see plenty of intriguing hotel technology developments in 2024.
But a new year is about more than a look to the future. It’s also an opportunity to pause for a moment to reflect on the growth and development we’ve seen as an organization. With new business development, expanded partnerships, valuable product features, and industry-leading events in our rear-view mirrors, it’s easy to see that 2023 was undeniably a year of tremendous growth.
Let’s take a look at some of our biggest business highlights from 2023.
Innovative tech promoting profitability, efficiency
For many hoteliers, 2023 was a year shaped by navigating the financial challenges of a tighter lending environment. While hotel revenue management technology remained a key component for their financial health—83% of surveyed investors describe the ROI of this technology as “high” or “very high”—market conditions pushed many hoteliers to focus on the bigger picture of total revenue management and profitability.
Improving profitability, efficiency, and pushing beyond a “rooms-only” revenue optimization approach requires effective tools. To that, IDeaS was (and remains) well-positioned for operators looking to address these needs:
- RevPlan provides hoteliers with an effective total revenue forecasting solution that helps operators easily gain a holistic of their revenue streams and improve their budgeting processes.
- Optix gives multi-property group and cluster revenue management pros an effective tool for managing at scale and identifying where to prioritize their often-limited time.
- SmartSpace and FunctionSpace help operators turn their focus to maximizing a critical and sometimes overlooked revenue stream: meeting and event space.
Additionally, 2023 saw the arrival of G3 RMS’ new independent products feature, which enables hotels to holistically optimize their room inventory for multiple base rates independent of each other (e.g. daily rates alongside weekly or monthly extended stay rates). This innovative addition helps to solve a once-confounding challenge for properties with varied length of stay offerings, ensuring they make the most of their inventory.
Expanded partnerships increase client success, streamline data sharing
It’s no secret hoteliers need a stack of technology systems that play well with each other to get the most out of their solutions. For IDeaS, 2023 was a year marked by notable efforts to improve that connective tissue between hospitality systems.
Oaky, Busy Rooms, NEC Corporation, and HotelKey all joined the ranks of the growing list of over 245 technology partners who are committed to the shared success of our mutual client properties. These partnerships are helping to pave the way to the goal of a secure, seamless transfer of data among systems—enabling efficiencies and system performance improvements.
The key to many of our strongest partner integrations is the use of cloud-based data solutions. Our partnership with Amazon Web Services, the world’s most widely adopted cloud platform, ensures IDeaS’ hospitality system integrations are built upon a world-class foundation.
Award-winning product, people, and service underscore commitment to client success
Our commitment to providing best-in-class technology, services and people goes hand-in-hand with putting our clients first and treating their success as our success.
In 2023, we laid the groundwork for several recently announced enhancements to the client experience. These changes will help ensure clients—whether they’re from big-brand properties or small boutique operations—get the most out of our solutions.
While we’re certainly not in this industry for pats on the back, our concentrated focus on human capital and customer success did not go unnoticed. That recognition included three awards from the Brandon Hall Group for excellence in the flow of work for Optix, Best Learning Team, and Best New Hire Onboarding Program. The company also scored in two categories of the 2023 Hotel Tech Awards, including the Global Hotelier’s Choice Award.
Another component of our client-first focus that shouldn’t be overlooked is the development and delivery of native-language software tools. The hospitality industry spans the globe, and operators clearly stand to benefit from tools with a user interface that literally speaks their language. In 2023, our clients were able to say “Hola” and “Bonjour” to Spanish and French translations of G3 RMS. These expanded language offerings join existing English, German and Chinese variations, with Japanese coming in the very near future.
Continued development of the revenue management community
The hospitality industry has largely embraced revenue management principles. But that doesn’t happen without a community of like-minded revenue maximizers helping to spread the word. In 2023, IDeaS actively fostered a growing community of forward-thinking revenue management and hospitality tech professionals with informative webinars, industry-shaping global events and specialized forums for hoteliers.
While there was certainly no shortage of events and opportunities to talk to—and listen to—hoteliers across the globe in 2023, Converge was a particularly bright spot on our calendars. Nearly 250 hospitality leaders gathered in London to hear from tech innovators and industry leaders on where they see the future of hospitality technology going. Oh by the way—we’d love to see you in 2024!
2023 also saw the establishment of the Resorts Revenue Council, a collaborative venue for industry leaders to gather and discuss the unique needs of resorts and all-inclusive properties as they strive for total profit optimization. This provided a fantastic opportunity for resorts leaders to shape and influence the future of revenue management technology as we consider potential enhancements to our capabilities. Want to get in on the conversation? Sign up for the Resorts Revenue Council to get involved with this fast-growing community.
Momentum for the year to come
IDeaS now serves over 30,000 properties across 154 countries and six continents, and we expect to add many more in 2024. While we’re clearly proud of our tremendous growth over the years, that doesn’t happen without the good people within our ranks—and the smart, passionate client base that push us every day to listen, improve and grow as an organization.
2024 is shaping up to be a fantastic year in hospitality tech. We look forward to working with you in the new year—and for many years to come.
Ready to make 2024 your organization’s best year yet? Connect with our team today to learn more about IDeaS solutions.