From Manual to Masterful: How Electra Hotels & Resorts Optimized Revenue Management with G3 RMS

The Story

Electra Hotels & Resorts, a prominent hotel group, has been a pioneer in the Greek hospitality industry for over 50 years. The group operates several properties, including city hotels in Athens and Thessaloniki, a resort in Rhodes, and a boutique hotel in Kefalonia.

Electra Hotels & Resorts faced significant challenges due to the absence of a revenue management system (RMS). The team manually managed rates and availability across four hotels, reviewing room types daily for the next five months. This task was especially difficult in high-demand locations and required significant effort.

Building a Foundation for Automated Revenue Management

Yiannakopoulos introduced revenue management methodologies and gradually built a revenue management process within the organization. After demonstrating positive results through manual efforts, he advocated for the implementation of an automated RMS. After reviewing multiple revenue management solutions, the decision to adopt G3 RMS was clear and aligned with Yiannakopoulos’ revenue strategies.

The implementation of IDeaS G3 RMS allowed Electra Hotels to automate day-to-day revenue management tasks, significantly reducing manual workload. The system’s ability to make precise recommendations, consider competitor’s rates, and account for demand proved invaluable. The What-If module, alerts, and robust reporting features were particularly beneficial in optimizing revenue management strategies.

IDeaS has the most complete and well-structured RMS. There are a lot of tools that try to simulate parts of what IDeaS does, but there isn’t one that can get to the level of G3 RMS”

Round-the-Clock Revenue Intelligence

The benefits of IDeaS G3 RMS go beyond just automating pricing strategy recommendations and forecasting – it also empowers hoteliers with the confidence that smart decisions are being made around the clock. Even when he’s not in the office, G3 RMS gives the Electra team peace of mind that changes in demand and occupancy are being considered.

“IDeaS is there to support you and help you integrate best practices and configure your revenue strategy into the system. It’s important to find your way around the system and understand how to influence it to achieve the outcomes you want. Ultimately, you’re responsible for your overall strategy and how you use the system. So yes, you’re the one in control, but IDeaS can show you how the system works and how to use it as effectively as possible,” shared Yiannakopoulos.

A Team Built for Strategic Growth

The revenue team at Electra Hotels has been thoughtfully built from the ground up between 2019 and 2023, growing in both size and capability alongside the company’s rapid expansion. With G3 RMS in place during this transformational period, the team was able to receive hands-on training and develop a strong strategic foundation. This has empowered leadership to focus on higher-level decisionmaking and strategic oversight, confident that the day-to-day execution is in expert hands. Today, the revenue team operates with clear direction, a strong grasp of strategy, and the ability to implement quickly—playing a critical role in keeping Electra Hotels on the right track through every season of change.

Results and Conclusion

From 2019 to 2024, the Athens Market experienced a remarkable increase in RevPAR. During the same period, Electra Hotels and resorts, which adopted G3 RMS in 2019, achieved strong RevPAR growth. Comparing 2019 to 2024:

• Electra Metropolis: 76% RevPAR growth
• Electra Palace Athens: 85% RevPAR growth
• Electra Rhythm Athens: 87% RevPAR growth
• Electra Palace Thessaloniki: 85% RevPAR growth

Beyond reaching new RevPAR heights at several Electra properties, the partnership with IDeaS has also been instrumental in supporting Electra Hotels and Resorts’ strategic and longterm plans. G3 RMS has enabled the revenue management team to focus on strategic decision-making and fine-tuning strategies, contributing to the company’s overall growth and success.

Electra Hotels & Resorts plans to continue leveraging G3 RMS to support its growth and expansion, ensuring that the revenue management strategies remain innovative and effective in a dynamic market.