Independent hotel switches revenue technology to capture more demand and optimize revenue results with IDeaS G3 RMS
MINNEAPOLIS – January 16, 2018 – Step into the 1920s at this art-deco styled, independent property in New York City—The Belvedere Hotel. This non-traditional boutique hotel, accommodating an impressive 355 guestrooms, is within a block and a half of Times Square, yet offers guests a quiet residential feel. The Belvedere sought to upgrade its revenue strategy solution in order to keep up with their fast-paced competitive market.
With a majority of double occupancy rooms, IDeaS G3 Revenue Management System (IDeaS G3 RMS), built on powerful SAS® analytics, allows The Belvedere Hotel to manage rates more effectively by room type, a need their previous technology couldn’t accomplish. “We were pleasantly surprised with how the system quickly reacts to demand by room type, driving the price and getting the bookings with IDeaS’ automated decisions. We’re now able to respond to that demand with a solution that gives us confidence in its pricing and inventory controls,” explained Michael Link, general manager of The Belvedere.
Using continuous pricing—one of the flexible pricing options offered by IDeaS’ Ideal Pricing—The Belvedere Hotel has experienced a notable increase in ADR since implementation. Continuous pricing, together with IDeaS’ powerful overbooking and Last Room Value controls, provides an analytical, ongoing optimization of business that drives optimal revenue. With this property in close proximity to high- demand attractions like Times Square, the ability to account for special events—whereby the system automatically adapts to the demand and produces rates accordingly—The Belvedere Hotel has experienced significant improvements in key performance indicators.
The Belvedere Hotel is leveraging IDeaS G3 RMS’ powerful group displacement feature, which is an important part of the hotel’s overall revenue strategy. “Our hotel is getting better direction on quoting group prices with the group pricing tool from IDeaS. The system is helping us better understand the pricing strategy and has already boosted our numbers in group sales,” said Link.
“The Belvedere Hotel is a shining example of how hotels today can’t stand still and need to constantly evaluate their competitive environment, revenue strategy and technology platforms. By recognizing early what changes needed to be made and taking action quickly, The Belvedere Hotel is now seeing great performance improvements. IDeaS is pleased to be the revenue strategy partner with such a thriving New York City independent hotel,” said Jane Stampe, managing director at IDeaS.
“We are already seeing rate increases over last year, and we really owe that success to IDeaS. When you’re able to trust the system and let it run its course, we have been amazed with the successful decisions,” said Link. “We have trust and confidence with IDeaS’ technology and believe we are going to see a lot more success throughout this partnership.”
About The Belvedere Hotel
The Belvedere Hotel in New York City is a premier lodging destination for travelers around the world. Located on West 48th Street in the midst of the city’s theater district, The Belvedere Hotel is marked by elegantly appointed interiors, stunning architectural characteristics that are reminiscent of 1920s Art Deco design, and unparalleled service. Whether you’re visiting The Belvedere Hotel for business or pleasure, you’ll find that the conveniently located Midtown Manhattan hotel offers the sophistication of an urban oasis and the modern comforts of home. For more information, visit www.belvederehotelnyc.com/.
With more than 1.6 million rooms priced daily on its advanced systems, IDeaS Revenue Solutions leads the industry with the latest revenue management software solutions and advisory services. Powered by SAS® and with nearly three decades of experience, IDeaS proudly supports over 10,000 clients in 111 countries and is relentless about providing hoteliers with insightful ways to manage the data behind hotel pricing.
IDeaS empowers clients to build and maintain revenue management cultures–from single entities to world-renowned estates–by focusing on a simple promise: Driving Better Revenue.
IDeaS has the knowledge, expertise and maturity to build upon proven revenue management principles with next-generation analytics for more user-friendly, insightful and profitable revenue opportunities–not just for rooms, but across the entire hotel enterprise. For more information, visit www.ideas.com.