MINNEAPOLIS – September 26, 2012 – IDeaS Revenue Solutions, the leading provider of pricing and revenue management software, services and consulting to the hospitality industry, has announced that Loews Hotels & Resorts will implement the IDeaS Revenue Management System (RMS) at Loews Hollywood Hotel in Los Angeles. The 632-room property, acquired by Loews this spring, will use the automated system to streamline revenue management processes and increase profitability.
“Being in the heart of the fast-paced entertainment district, we recognized the need for a system that quickly and accurately calibrates demand for us 365 days out,” said Reid Burkett, Regional Director of Revenue Management, Lowes Hotels & Resorts. “IDeaS will allow us to maximize incremental revenue for the hotel due to our more accurate demand forecasts.”
The implementation of the IDeaS RMS at Loews Hollywood Hotel is part of a company-wide initiative to automate revenue management processes across all Loews Hotels & Resorts properties. Last year, Loews began installing the IDeaS RMS equipped with the Group Pricing, Evaluation and Best Available Rate (BAR) modules. The system’s advanced software provides reliable, up-to-date market information quickly and easily and includes full two-way communication between IDeaS and Loews’ existing technologies, including their property management system and sales and catering system.
“We are pleased to partner with Loews as they continue to expand their portfolio and increase brand recognition,” said Jane Stampe, Managing Director, Americas, IDeaS. “The Hollywood property is well positioned for successful and significant returns through our advanced forecasting and pricing analytics.”
About Loews Hotels & Resorts
Headquartered in New York City, Loews Hotels & Resorts owns and/or operates 18 hotels and resorts in the U.S. and Canada including the Loews Hollywood Hotel located adjacent to the Hollywood & Highland Center. The hotel features 632 guestrooms, including 113 suites and over 120,000-square-feet of meeting space. Located in major city centers and resort destinations in North America from coast to coast, the Loews portfolio features one-of-a-kind properties that go beyond Four Diamond standards to delight guests with a supremely comfortable, uniquely local and vibrant travel experience. For reservations or more information about Loews Hotels & Resorts, call 1-800-23-LOEWS or visit: http://www.loewshotels.com.
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