Nayara Resorts Streamlines Revenue Management and Achieves Record Growth

The Story

Nayara Resorts boasts an expanding collection of luxury, eco-friendly and award-winning properties in stunning, remote locations across Central and South America. Nestled in naturally beautiful locales, Nayara’s resorts and tented glamping sites offer a wide variety of unique and appealing accommodations for adventure-minded travelers.

During the early stages of their expansion, Nayara Resorts recognized the need to streamline their revenue management processes. Despite typically running high occupancies, they knew their approach wasn’t yet maximizing their revenue potential. Additionally, the manual spreadsheets they’d used for revenue management were labor-intensive and limited in scope. Seeking a solution to propel them ahead in the market, Nayara turned to IDeaS.

Optimization and Efficiency

Previously, Nayara treated the three Costa Rican properties located in close vicinity to each other as a single entity. However, the implementation of G3 RMS and Optix revolutionized their revenue management approach by allowing them to efficiently assess each property independently while maintaining visibility into portfolio performance as a whole. Using IDeaS offered unparalleled insights into property performance, empowering Nayara to optimize results across their portfolio.

Nayara’s Director of Sales, Marketing, and Development, Constanza Navarro, appreciates the flexibility afforded by the combined power of G3 RMS and Optix, enabling them to analyze properties individually or aggregate data for a holistic view of their estate.

“G3 RMS plus Optix is a great combination because you can pull all the reports and you have all of the information for those tricky questions from operations and owners,” shared Navarro.

“The fact that the software is looking out two years gives you a lot of space to focus on different areas of your strategy because you know that it’s being taken care of. You’re not going be surprised by a spike in occupancy and how the rate adjusts.”

Time Savings

Transitioning from manual reporting to G3 RMS and Optix upended Nayara’s revenue management approach for the better, with a suite of features that gave them the ability to focus on demand and adjust pricing dynamically, resulting in significant time savings and enhanced accuracy.

The previous weekly method of reporting and forecasting proved inefficient as it required an entire day to complete with outcomes often falling short of expectations. Weekly analyses were typically limited to the next 90 days. With IDeaS’ forecasting visibility, Nayara could proactively plan strategies to maintain their competitive edge in a rapidly evolving market.

“The fact that the software is looking out two years gives you a lot of space to focus on different areas of your strategy because you know that it’s being taken care of,” Navarro said. “You’re not going be surprised by a spike in occupancy and how the rate adjusts.”

This extended forecasting horizon eliminates the need to schedule regular reviews, providing a continuous and comprehensive outlook without interruptions. “This was impressive for me and something we needed to have,” noted Navarro.

The Competition

G3 RMS empowers Nayara to rival major brands as an independent hotel. It illuminates possibilities that may have seemed out of reach, dispelling the notion that independent hotels cannot compete with larger chains in terms of rates and pricing agility.

With G3 RMS’ room price optimization features, Nayara attained elevated rates, positioning them to command one of the highest ADRs nationwide, and on par with other top-tier luxury brands. This achievement underscores Nayara’s ability to compete with renowned hotels while maintaining product excellence and service standards comparable to those of luxury establishments.

“It’s not just about the ROI, it’s also what you can do with your hotel and how you position your hotel and that opens up a lot of opportunities,” said Navarro.

G3 RMS helped position Nayara ahead of competitors, ensuring they remained leaders in ADR and RevPAR. As the market became increasingly competitive, Nayara’s foresight in adopting technology proved invaluable. With G3 RMS and Optix, they stay ahead of market trends and drive revenue growth with confidence.

A prosperous partnership

The implementation of G3 RMS is a clear revenue winner for Nayara Resorts, with Navarro noting they’ve seen consistent growth in ADR.

“It’s amazing to see G3 RMS work and see the return on investment,” Navarro said. “In 2021, our first full year using G3 RMS, we observed a 7% increase in ADR compared to 2019 performance. In 2022, we saw 18% ADR growth compared to 2021 and in 2023 another 20% rise in ADR compared to 2022. To add to this, over the last four years, we have seen an average increase of 22% in RevPAR.”

Nayara’s commitment to innovation and evolution has been instrumental in their success. With G3 RMS and Optix, they have not only streamlined their revenue management processes but also unlocked new opportunities for growth. As technology continues to evolve, Nayara remains confident that their partnership with IDeaS will propel them towards even greater success in the future.

“With IDeaS you have a partner that can work with you to find the solution and achieve exactly what you want,” notes Navarro, “For me, that’s what was important.”