Greek hotel group uses the market’s most sophisticated RMS solution to improve yields
HERAKLION, Crete—Oct. 9, 2019—Elounda S.A Hotels & Resorts has selected IDeaS G3 Revenue Management System (RMS) to improve its forecasting capability and raise profitability by driving higher yielding business.
With three luxurious seafront hotels in Crete, Elounda S.A hotels & Resorts will implement the market’s leading RMS technology to ensure revenue is maximised across its 287-room estate.
- Driving more yieldable business – Historically three quarters of Elounda’s trade came from contracted tour business. However, a switch to a more dynamic pricing approach driving higher yielding clients was identified as the key to ensuring continued success and growth in the luxury travel market—a process that required the precision forecasting and in-depth data analysis functionality of IDeaS G3 RMS.
- Overcoming a lack of data – Based on how the property had been sold via static contracts over the last 40 years, and to overcome the absence of historic data, Elounda S.A hotels & Resorts will take advantage of IDeaS Limited Data Build functionality to maximise revenue by scientifically predicting sales projections and booking patterns to provide the expected demand.
- Component room optimization – With dozens of component rooms across the estate, Elounda S.A hotels & Resorts will now be able to automatically forecast, yield and price this flexible inventory, while understanding demand for both the component rooms and their individual physical parts.
- Group pricing evaluation – Sales managers have enthusiastically welcomed group pricing functionality which provides a comprehensive profit evaluation and instantly delivers an optimised rate quote. The functionality also provides analytically-determined rate quotes by room type, allowing for the more efficient management of premium room-type inventory.
George Chalil, cluster director of revenue management, Elounda S.A Hotels & Resorts, said: “Working in revenue management without an RMS tool is a challenging task—it’s near impossible to produce accurate reports and make meaningful decisions from spreadsheets. We have carefully and deliberately invested in the best technology available as we believe data science is the most efficient way for us to transition to doing more direct and profitable business.”
Fabian Specht, area vice president, EMEA, IDeaS, said: “Elounda Hotels and Resorts’ decision to partner with IDeaS is part of a growing trend among Greek hoteliers to adopt a more sophisticated approach to revenue management strategy as more managers are recognising its value and importance in the country’s buoyant tourism market.”
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 11,000 clients in 129 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 Elounda S.A Hotels & Resorts
Elounda Hotels and Resorts are comprised of three luxurious seafront properties in a setting of outstanding natural beauty in Northeast Crete, Greece: the Elounda Mare Hotel, the Porto Elounda Golf & Spa Resort and the Elounda Peninsula All Suite Hotel. All three properties have received awards and distinctions and have established a strong brand in the luxury hotel industry.