Popular Greek hotel leverages IDeaS’ revenue technology and Advisory Services to enhance its revenue strategies
LONDON—Aug. 25, 2020—One of the “Leading Hotels of the World,” the Belvedere Hotel Mykonos has selected IDeaS G3 Revenue Management System (RMS) to manage, control and maximise data. It also selected Revenue Architect, a revenue performance analysis service conducted by the IDeaS Advisory Services team. By leveraging this service, the hotel will be able to better understand the right revenue opportunities to pursue and how to capitalise on them.
With more than 15 different room types including luxury villas, rooms and suites, two restaurants and a spa, the elite hotel has the potential to maximise revenue beyond the guest room.
- Iconic hotel sees rise in local competition – More than 600 new rooms open in Mykonos nearly every summer, including villas being renovated and turned into small hotels and bigger hotel chains opening in the area. The hotel looks to gain helpful insight from IDeaS G3 RMS to stay ahead of the growing competition.
- The right room at the right price – Because its maximum revenue is generated during a small three-month window, owner Nikolas Ioannidis understands the importance of offering the right room at the right price in order to optimise his hotel’s revenue.
- Taking advantage of deep industry expertise – IDeaS provides a suite of strategic, hands-on services tailored to help each client build more revenue-centric teams and processes. Revenue Architect delivers a strategic blueprint and timeline for initiatives, identifies new and untapped revenue opportunities and prioritises the execution of high-impact initiatives.
Nikolas Ioannidis, owner, Belvedere Hotel Mykonos, said: “We believe the era where we can fill up rooms at high rates by doing nothing is gone. It’s a competitive market out there, and we must grab every opportunity we can. We can upsell when we can, but when we cannot, we need to stay competitive. This aspect is difficult for humans to manage, and that’s where revenue management technology becomes essential.”
Dr. Ravi Mehrotra, president, founder and chief scientist, IDeaS, said: “We understand what it takes for boutique hotels to remain competitive. It is more important than ever before that hotels of every size begin to take advantage of the deep knowledge and insights our software and services can provide. We welcome Belvedere Hotel Mykonos to the IDeaS family.”
IDeaS, a SAS company, is the world’s leading provider of revenue management software and services. With over 30 years of expertise, IDeaS delivers revenue science to more than 14,000 clients in 140 countries. Combining industry knowledge with innovative, data-analytics technology, IDeaS creates sophisticated yet simple ways to empower revenue leaders with precise, automated decisions they can trust. Results delivered. Revenue transformed. Discover greater profitability at ideas.com.
About Belvedere Hotel Mykonos
The Belvedere Hotel has cemented its reputation as one of the most iconic hotels in Mykonos with its cosmopolitan vibes and understated luxury. Nestled on a hill overlooking Mykonos town, the hotel is set partly in one of the island’s oldest mansions dating back to the 1850s. The Belvedere Hotel is an assortment of varying sized villas, rooms and suites, each one breathtakingly beautiful. Some of the villas can house larger groups and come with round-the-clock service and swimming pools.