To Book or To Stay: That is the Question

Whether ‘tis nobler in revenue strategy to suffer the reservations and upgrades of outrageous fortune, or to take arms against a sea of data, and by opposing, better optimize them. Booked data represents transactional data that indicates which room type a guest booked Stayed data represents transactional data that specifies which room type a guest […]

https://ideas.com/book-stay-question/

Bridging the Industry With Digna M. Kolar

Advisory Services answers recent client questions about hotel revenue management  Digna M. Kolar, IDeaS senior advisor, talks about what  revenue management culture is and how to achieve it. In one of my previous blogs, I spoke about the need of a revenue management (RM) culture and the questions continue to keep rolling in… how do we develop […]

https://ideas.com/bridging-industry-digna-martinez-3/

Component Rooms: Another Step toward Personalizing the Guest Experience

Pricing guest rooms for all guest types Component rooms is a mix of guest rooms that can be converted into various combinations to form larger accommodations for guests Little has evolved in terms of an automated strategy for component rooms until now IDeaS G3 RMS understands demand at a granular level, down to the room […]

https://ideas.com/component-rooms-another-step-toward-personalizing-guest-experience/

The Future of Revenue Management Series: Pricing

This is the fourth in a series of five videos about the future of revenue management, as moderated by Sherri Kimes, professor of operations management at Cornell’s School of Hotel Administration. The function of revenue management within a hotel organization has evolved significantly since its inception. The proliferation of industry data and channels only solidifies […]

https://ideas.com/the-future-of-revenue-management-series-pricing/

A Quick Guide to Important Meetings & Events KPIs

Take your next great revenue management strategy to new heights Revenue per square foot/meter is the great equalizer, much like RevPAR for guest rooms The combination of metrics allows hotels to be more flexible and thoughtful about their demand-based pricing strategy It is critical to monitor the success of an M&E revenue strategy and provide tangible […]

https://ideas.com/a-quick-guide-to-important-meetings-events-kpis/

Meet IDeaS New Chief Evangelist

Discover what this new role for IDeaS entails and how it impacts the industry It is important to listen and distill the information into themes that can be easily communicated. IDeaS is leading by investing in someone to think and elevate the conversation. Consumers want to be communicated to and engaged in an authentic, one-on-one […]

https://ideas.com/meet-new-chief-evangelist/

The Future of Revenue Management Series: Performance Measurement

This is the third in a series of five videos about the future of revenue management, as moderated by Sherri Kimes, professor of operations management at Cornell’s School of Hotel Administration. The function of revenue management within a hotel organization has evolved significantly since its inception. The proliferation of industry data and channels only solidifies […]

https://ideas.com/the-future-of-revenue-management-series-performance-measurement/

Bridging the Industry With Charles Wang

Advisory Services answers recent client questions about hotel revenue management’s unspoken truths Charles Wang, IDeaS regional head of advisory services in APAC and China, discusses the things hoteliers don’t want to talk about, but need to know. There have been reports of many guests cancelling and rebooking their hotel rooms to achieve better rates. How […]

https://ideas.com/bridging-the-industry-with-charles-wang/

Driving Maximum Profit through More Direct Bookings

How direct bookings are going to save your bottom line. Hotels should incorporate user ratings and reviews Third parties charge anywhere between 10-25% commissions for every booking they secure Pricing by room type is an area of opportunity for nearly every hotel In today’s ultra-competitive hotel environment, every dollar counts. With rising costs associated with […]

https://ideas.com/driving-max-profit-direct-bookings/

The Future of Revenue Management Series: Revenue Managers

This is the second in a series of five videos about the future of revenue management, as moderated by Sherri Kimes, professor of operations management at Cornell’s School of Hotel Administration. The function of revenue management within a hotel organization has evolved significantly since its inception. The proliferation of industry data and channels only solidifies […]

https://ideas.com/the-future-of-revenue-management-series-revenue-managers/