Presenting Profit Optimization for IDeaS G3 RMS, a groundbreaking enhancement enabling hotels, resorts, and casinos to double down on maximizing total guest value.
It’s always fun to consider what you’d do with more money coming in. Personally, I would buy a new road bike, smart phone, and a mini goldendoodle puppy. Professionally, because I work for a hospitality technology company, I can only imagine the long list of needs a hotel owner must consider every day.
Should you refurbish guest rooms or incorporate work-friendly spaces? What about revamping the website or increasing staff wages? And don’t forget about those overdue technology upgrades you’ve been putting off. The list goes on and on of potential expenses all competing for the same pool of revenue.
But what if you could once and for all capture the kind of guests who will spend the most across your hotel and cost you the least? This is the principle of profit optimization in action, and it provides insight into the true costs associated with the revenue streams that drive your core business. With a focus on revenues, profit margins, servicing costs, and acquisition or channel costs, you’ll have a total picture of the types of guests that impact your bottom line.
At IDeaS, we’ve made the profit optimization dream a reality. Our industry-leading G3 Revenue Management System (RMS) now offers a holistic approach to total profit optimization that helps hotels, resorts, casinos, and more automate all key business controls based on prioritizing profit.
Instead of focusing on RevPAR, our Profit Optimization feature maximizes overall profitability, leapfrogging total revenue management and Net RevPAR to optimize highly-sought metrics like profit per available room (ProPAR).
By analyzing any combination of servicing costs, ancillary revenues and associated margins, and acquisition or channel costs, our flexible, innovative Profit Optimization engine provides adjusted decision data. This enables a hotel’s property management system or central reservation system to yield the value of reservations to account for profit.
The result is enhanced profitability which leads to more money for your hotel to improve the guest experience, drive stronger long-term growth, provide a greater return on your investment—and do whatever else it is you’d want to do with more money.