LONDON, UK – November 14, 2013 – IDeaS Revenue Solutions, the leading provider of revenue management software, services and consulting, today announced it has strengthened its partnership with Travelodge, ahead of marking their 10 year anniversary of working together. The signing of a strengthened agreement ensures that the two companies will continue to work together to drive better revenue for the UK’s first budget hotel chain.
The partnership began in 2004, when Travelodge implemented the IDeaS Revenue Management System (RMS). Since then Travelodge has applied an increasingly sophisticated approach to revenue management as its portfolio has grown to over 500 hotels, with IDeaS offering the latest, innovative revenue management solutions.
The close working relationship has helped Travelodge operate its business in more efficient ways, placing managing by exception at the core of its revenue management approach, which has been crucial for the company’s ambitious growth strategy. Installing IDeaS’ Best Available Rate (BAR) module in particular, which calculates optimal rates based on arrival date and incorporates the impact of competitor pricing activity, has proved pivotal to Travelodge’s revenue management model. IDeaS BAR module enables Travelodge’s small, centralised revenue management team more time to develop revenue enhancing strategies, while managing only exceptional situations – cases that require a distinct interpretation of market conditions which cannot be gained from data alone.
To date, Travelodge has implemented IDeaS RMS with BAR module, the IDeaS New Hotels Success Service Package (NHSSP), IDeaS Consulting, and IDeaS RMS Certified Trainer programme.
Peter Manby, Revenue Director at Travelodge said: “Over the past 10 years, IDeaS has successfully supported us throughout each phase of our growth – they have proved to be a truly invaluable partner. Choosing to sign a strengthened agreement was a logical and easy decision for Travelodge to make.”
Fabian Specht, Managing Director EMEA at IDeaS added: “The extension of our partnership with Travelodge is a testament to the effectiveness and range of our solutions. Travelodge has used multiple IDeaS systems and solutions in order to meet numerous requirements at different times, throughout the various stages of their expansion. We have been thrilled to play a part of Travelodge’s many successes to date, and – with this new strengthened agreement in place – we look forward to continued growth together.”
The first budget hotel brand to launch in the UK in 1985, Travelodge now operates over 500 hotels and 37,000 rooms across the UK, Ireland and Spain. More than 16.5 million people stayed with Travelodge last year and 90% of reservations are currently made online at www.travelodge.co.uk, which is the UK’s most visited hotel website, attracting over 1.1 million visits each week.
Travelodge is benefitting from a £223 million brand investment this year, which includes a £57m refurbishment programme across its estate and a brand new room concept created by Travelodge customers. This programme kicked off on the 4th March 2013 and will be completed in autumn 2014.
In addition to offering more comfort, style and quality, the new room features the Travelodge Dreamer, a new luxury king size bed deemed in the industry as the ‘Rolls Royce’ of beds.