Client Reviews
“IDeaS’ extensive portfolio, encompassing diverse types of hotel businesses, gave us the confidence that G3 RMS can effectively manage our varied hotel operations.”
Hotel Revenue Optimization Begins with a Unified Strategy
Drive stronger growth across your entire portfolio and unify your efforts with simple, yet sophisticated solutions that remove the friction and complexity in hotel revenue management optimization.
Boost portfolio performance
Through advanced analytics, automation, and data science methods like AI, you’ll gain transparency and help your properties maximize their revenue opportunities 24/7 across all inventory types and segments to stand out in the market.
Deliver more value
Differentiate yourself with cutting-edge revenue technology that fits seamlessly in your tech stack and empowers owners or franchisees to be more productive and grow market share. They’ll feel empowered with the right revenue tool, and confident in their competitive positioning and commercial strategy.
Drive technology adoption
Introduce scalable revenue management practices that are accessible and adoptable for all property types and user skill levels in your portfolio. IDeaS has experience and solutions to support properties across all segments, personas, and markets.
Who Manages Revenue Optimization in Your Hotel?
Eliminate the essential yet monotonous tasks from someone’s day by letting technology reduce time spent on manual tasks, so your people can focus on providing a more personalized touch to the guest experience.
Streamline workflows with centralized tools to better prioritize your limited time across properties. Proactively know which property needs your attention, what the challenge or opportunity is, and pounce on it with confident actions to help save you time, and boost cluster revenue performance.
Rely on the right partner trusted by more than 30,000 properties to build and scale a sustainable revenue culture. Identify, strategize, and respond in real-time to trends impacting multiple properties. We’ll support your evolving business and IT needs with future-proof technology that is fast, scalable, and flexible.
Hotel Groups and Chains Resources
FAQ in Hotel Revenue Optimization
Put simply, revenue optimization aims to achieve the best possible financial outcomes from available demand. Using data-driven tactics and strategies, a hotel aims to deliver the right product at the right price through the right channel to the right customer at the right time.
Hotel profitability is driven by a comprehensive approach that includes multiple revenue streams beyond room rates and factors in the variable costs. Hotels can strategically manage income streams such as food & beverage, meetings & events (M&E), and spa & wellness. Key actions include accurate total revenue forecasting, optimizing business mix, managing pricing and inventory controls, and monitoring guest spend across the property, while factoring in channel and service costs. Leveraging data, breaking down silos, and focusing on holistic revenue management maximizes overall profitability.
The revenue optimization process consists of four key functions:
- Forecast: Predict room demand and occupancy based on current data inputs.
- Optimize: Determine the best business mix from the available demand to achieve business goals and maximize RevPAR (Revenue per Available Room) and profit.
- Control: Apply pricing and inventory controls to achieve optimal revenue and profitability.
- Monitor: Track booking activity and changes in demand, making adjustments as necessary.
This process is essential for a hotel’s financial success, driving more revenue and profitability by maximizing the value derived from room inventory.
Predictive analytics – Continually learns and analyzes business and market trends to identify revenue opportunities and necessary actions, streamlining strategy decisions and enabling quick responses to maximize revenues.
Mass action deployment – Execute actions, like changes to a promotion or price floors, with a single deployment point for revenue management decisions and system changes, saving time by eliminating the need for individual property adjustments.
Centralized performance dashboard – Break down silos between properties, with centralized performance metrics that provide corporate or regional users a real-time overview of their portfolio’s health and team performance, saving time on data consolidation and accelerating commercial decision-making.
- Manage more properties with fewer resources.
- Align teams and stakeholders around the same data.
- Pinpoint meaningful revenue risks and opportunities for the portfolio.
- Quickly turn insights into action with automated suggestions reinforced by predictive analytics.
- Prioritize activity based on potential revenue impact via persona-based workbenches.