PRAUGE – October 13, 2015 – IDeaS Revenue Solutions, the leading provider of revenue management software solutions and advisory services, today announced the five-star Buddha-Bar Hotel Prague, included in the CPI Hotels portfolio and recent winner of TripAdvisor´s “Certificate of Excellence Hall of Fame,” has implemented IDeaS RMS, a market leading revenue management system, to enhance their revenue management approach.
“Pricing and the ability to impose length of stay restrictions are essential to managing demand, and we realized we needed to take our revenue management process above and beyond to obtain the sophisticated analysis and automation that our hotel deserves,” said Veronika Fajčíková, general manager of the Buddha-Bar Hotel Prague. “After a comprehensive cost/benefit exercise, we were confident that IDeaS was the best option available and that the hotel would see substantial benefits. The high standards we set for ourselves were matched by the team at IDeaS, and with SAS analytics driving IDeaS technology, we knew we were buying into a world-class solution.”
IDeaS RMS provides an overview of the hotel’s business and supports in-depth analysis of its data. Key hotel performance indicators provide a clear view to the information most important to the sales manager, revenue manager and hotel management. Key metrics such as Occupancy, Revenue per Available Room (RevPAR) and Average Daily Rate (ADR) can be identified, analysed and reported.
“Revenue management for a hotel, especially one with a brand as vibrant as the Buddha-Bar Hotel, requires deep analysis of the market and highly accurate pricing forecasts,” said Fabian Specht, EMEA managing director for IDeaS. “IDeaS has a 25-year track record of working across all different types and sizes of hotels, so we can leverage a wealth of relevant experience for any property. For the Buddha-Bar Hotel team, we are able to provide meaningful insight and advanced analytics combined with efficient automation across all sales channels, effectively supporting both the revenue management and sales functions in their efforts towards a better revenue performance.”
About the Buddha-Bar Hotel Prague
The boutique Buddha-Bar Hotel Prague (opened in 2009) has the mystical flair and ambience of the legendary Parisian ”restaurant-bar-lounge.“ The unique urban resort redefines lifestyle within the hospitality industry with its luxury rooms and exquisite suites. The first Buddha-Bar Hotel emboldens the essence of contemporary modern Asian interior design with French colonial influence.
With more than one 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 more than 25 years of experience, IDeaS proudly supports more than 7,000 clients in 94 countries and is relentless about providing hoteliers more insightful ways to manage the data behind hotel pricing.
IDeaS empowers its 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.