With ambitious growth plans and a continually expanding portfolio, Loews Hotels and Resorts recognized how an automated revenue management system could help streamline revenue management processes and optimize hotel rates.
In 2011, the group began an extensive rollout of IDeaS Revenue Management System. The project was motivated by a desire to automate revenue management strategies, spend more time focusing on strategic planning and optimize revenue for newly renovated hotels as well as those with inventory off the market.
“IDeaS Revenue Management System is a great tool for managing demand and homing in on that premium customer,” said Reid Burkett, regional director of revenue management, Loews Hotels and Resorts. “Because of the system, our conversations around demand, price position and yield mix are more mature, and more of our decisions are based on analytics.”
“Since pre-recession times, the hotel is performing better than ever,” said Burkett. “As Loews expands, IDeaS will play a key role for optimizing revenue at new and existing properties.”