Extended stay and serviced apartment properties utilize revenue optimization to handle the complexities of varied length-of-stay offerings
LONDON — April 17, 2024 — IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today it has expanded its relationship with the Cheval Collection to a total of ten properties. Building on a strong, established relationship from successful implementations of G3 RMS at its Edinburgh properties, IDeaS’ capabilities helped clear the way for wider adoption within the Cheval portfolio.
As Cheval expanded its portfolio, the management team was keen on maximizing the overall efficiency and effectiveness of its revenue strategies. Implementing G3 RMS helps eliminate manual processes and focus their efforts on addressing impactful outlier scenarios. When they needed an RMS that could optimize revenue for guests with varied lengths of stay and help evaluate the impact of potential group business, a small but growing part of their business mix, they turned to their RMS partner, IDeaS.
- Trust built on a foundation of automated, effective RMS – Cheval appreciates G3 RMS’ core functionality at its existing properties. With implementation, it was able to deploy automated revenue management strategies efficiently and effectively and improve revenue performance.
- Revenue optimization for varied length of stay offerings – Cheval Collection’s luxury serviced apartments have the flexibility to operate on a hybrid model, where units can be booked for varying lengths of stay—from standard overnights to week- or months-long bookings. G3 RMS’ ability to take a holistic view of demand for all product-types and automatically drive revenue maximization decisions was a key factor as it helps to simplify complex revenue management decisions.
- Streamlined group business evaluation – Group business represents a small but significant and growing portion of Cheval Collection’s business. Cheval valued G3 RMS’ Group Pricing Evaluation feature as it provides an easy-to-use displacement analysis that helps their commercial teams understand the potential revenue impact of accepting or rejecting group business opportunities.
Liz Callaghan, director of revenue, Cheval Collection, said: “I really can’t say enough about the fantastic support we have received across all touchpoints from the IDeaS team. Their expert knowledge, insight, and experience working with our other properties made the integration process seamless. We are excited to see the results as these additional properties come online.”
Michael McCartan, area vice president, EMEA, IDeaS, said: “When the Cheval Collection team wanted to expand their RMS capabilities to eight additional properties, our teams went to work to ensure we deliver innovative, customer-focused experiences across its portfolio. We’re delighted to work with them to elevate their revenue management, help them achieve their strategic objectives, and improve their commercial results.”
About IDeaS
IDeaS, a SAS company, is the world’s leading revenue management software and services provider. 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. With 35 years of expertise, IDeaS delivers revenue science to more than 30,000 properties in 158 countries. Results delivered. Revenue transformed. Discover greater profitability at ideas.com.