Revenue Perspective - by IDEAS

1REVENUE PERSPECTIVES: QUICK HITS FOR STRATEGIC REVENUE INSIGHTSwww.ideas.com
REVENUE PERSPECTIVES:
QUICK HITS
FOR STRATEGIC
REVENUE
INSIGHTS
Volume 1

CONTENTS
INTRODUCTION_____________________________________ 3
DATA & ANALYTICS
The Analytics Tsunami: Are You Ready to Ride its Wave?______________________________________ 5
A Crystal Ball for Marketing & Revenue Management_________________________________________ 5
The Science of Clean Laundry & Revenue Management_____________________________________ 5
Decisions vs. Recommendations: It’s All in the Name__________________________________________ 6
Can Your Data Answer the 5 W’s of Storytelling?______________________________________________ 6
REVENUE & PRICING
Ideal Pricing Delivers Extraordinary Revenues_________________________________________________ 9
Four Considerations for Developing Your Pricing Strategy______________________________________ 9
Ideal Pricing vs. Only Pricing: Revenue Strategy Beyond Price_________________________________ 9
Group Pricing Goes for the Gold_____________________________________________________________ 10
5 Ways to Find the Right Pricing Strategy for Your Hotel________________________________________ 10
IN THE MIX
Four Ways to Increase Your Direct Bookings___________________________________________________ 13
The Walking Dread__________________________________________________________________________ 13
Revenue Management’s Cinderella Story____________________________________________________ 13
A Tribute to Revenue Management Past_____________________________________________________ 14
All Day I Dream About…Revenue____________________________________________________________ 14
ABOUT IDEAS REVENUE SOLUTIONS___________________________ 16

3REVENUE PERSPECTIVES: QUICK HITS FOR STRATEGIC REVENUE INSIGHTS
Taking Revenue Into Perspective
In an industry where there are as many trending topics as there are
hotels, it’s not always easy to keep up on the freshest hospitality
insights. That’s why IDeaS Revenue Solutions is bringing the hottest
revenue perspectives to you!
This guide provides you with quick access to thought-leading blog
articles around the various components of data, analytics, pricing &
strategy - with a sprinkling of miscellaneous topics such as increasing
direct bookings, overbooking and more!

DATA &
ANALYTICS

TheAnalyticsTsunami:AreYouReadytoRideitsWave?
With new entrants (think: Airbnb and Google) and growing
powerhouses (such as Expedia and Booking.com) posing a
potential problem for hotel direct business, discussions have
been shaping around how to tackle these mounting revenue
management and distribution challenges. We’ve been seeing
an emergence of important concepts like big data, machine
learning and business intelligence landing at the forefront of
many industry conversations, but they can all mean different
things to different people. What they all have in common,
however, is they are all components of today’s sophisticated
analytics…
READ THE FULL ARTICLE >>
ACrystalBallforMarketing&RevenueManagement
Owners and operators are dead set on obtaining more direct
bookings for their hotels to maximize their profits. Revenue
management and marketing, more than ever, must align in
order to achieve what their owners are asking for. I recently
had the opportunity to sit down with Clay Jackson, director
of sales for nSight Travel Intelligence, to discuss what travel
intent data is and how hotels can utilize these insights to gain
a competitive advantage and drive more direct bookings…
TheScienceofCleanLaundry&RevenueManagement
Similar to your clothes, your data needs to be organized in a
way that’s best for optimization. For a very long time, and for
a lot of other revenue management systems, this is where you
can run into issues. This is because oftentimes the best way
to organize your data for optimization is not the best way to
report on it from a business perspective...

Decisionsvs.Recommendations:It’sAllintheName
In today’s world of innovative technology, it’s interesting to
think about the automated outputs of our industry’s revenue
management systems. All hotels face the challenges of
forecasting occupancy, setting associated pricing strategies,
determining overbooking levels, distributing pricing across
various channels and reporting on the results. However,
hotels should not have to sacrifice time that should be
spent on strategy that is spent instead on reviewing and
implementing their system recommendations…
CanYourDataAnswerthe5W’sofStorytelling?
Every compelling story – a thrilling book, a coworker’s wild weekend recount, an upcoming blockbuster
movie – contains some very familiar elements. Commonly referred to as the five w’s of storytelling, every
strong narrative provides answers to the common inquisitive questions of who, what, where, when
and why…

From our existing relationship, we
identified IDeaS as the best provider
of revenue management systems
because of its capabilities to increase
automation, handle different KPIs for
each of our three hotels and could
resolve the challenge of selling in
different currencies across different
channels.”
“
– The Montenegro Stars Hotel Group

REVENUE
& PRICING

Ideal Pricing Delivers Extraordinary Revenues
Similar to many industry veterans, I’ve spent the vast
majority of my adult life working in hotels. From operations
to sales & catering to revenue management, I’ve overseen
branded and independent properties, ranging from 500-room
luxury resorts to 80-room limited service inns. Through my
experiences I can say with certainty there has never been
a more comprehensive, flexible revenue management
approach than Ideal Pricing…
Four Considerations for Developing Your Pricing
Strategy
Hotels devote large portions of their revenue management
strategies around developing and implementing the right
pricing structure for their property and market. But establishing
the right pricing structure isn’t a one-off activity – and with the
hotel’s bottom line depending heavily on revenue generat-
ed from the implementation of an proper pricing strategy, it is
critical that hoteliers routinely and thoughtfully evaluate their
pricing options to determine which approach best fits the
needs of their business and technologies…
Ideal Pricing vs. Only Pricing: Revenue Strategy
Beyond Price
Hospitality experts agree that hotels can’t maximize profitability
by managing rates alone. When your revenue strategy only
focuses on managing price, you can’t deliver optimal results.
Managing only price works well when your inventory is not
perishable; however, when it comes to hotel rates, your
strategy requires a higher degree of sophistication…

Group Pricing Goes for the Gold
Remember the days when you would gather around a
table and sales managers would bring their group inquiries
to hash out which business to accept and at what rate?
Sales managers would be anxious to take as much
business as possible, F&B managers would be concerned
if minimums or rental weren’t high enough, and general
managers would question whether the rates were too low…
5WaystoFindtheRightPricingStrategyforYourHotel
Revenue managers dedicate a big part of their day to managing hotel rates and driving profits. They are
constantly analyzing data and various influencing factors to find that coveted sweet spot – and a revenue
manager’s greatest reward is finding the ideal public pricing that attracts guests and boosts their
organization’s bottom line…

From a strategic point of view, it’s been
important to us that IDeaS isn’t ‘just’ a
vendor. The fact that they deliver a
solution along with on-going revenue
management business support and
training helps us get the most from
the system.”
“
– Grand Hotel Minneapolis

IN THE MIX

Four Ways to Increase Your Direct Bookings
Nary a hospitality conference is found without the token
debate about OTAs and their impact on hotels’ direct
bookings. This trending topic has become so prevalent
and so fierce, in fact, that the majority of today’s hotels
have all become thirsty for the very best ways to quench
their biggest online booking competition…
The Walking Dread
Many hotels struggle to achieve a perfect sell-out – and
often avoid overbooking to evade the ire of the front desk.
The bane of any front desk manager’s existence? The
walkers. After all, walking a guest is never an extremely
pleasant experience for any hotel (or any guest). But within
the Sanctuary of Revenue Strategy, it’s often considered
a necessary evil…
Revenue Management’s Cinderella Story
The evolution of the revenue management industry has
been one of 2016’s top trending topics. As the industry propels
forward with better insights and more informed strategic
opportunities, there’s also been a marked shift in how the role
of revenue management is positioned within the organizational
structure of a hotel…

A Tribute to Revenue Management Past
Revenue Pioneers, partners and providers continue to blaze
a hot, new trail in our evolving industry, leaving its old and
archaic practices behind in the hazy (and possibly forgotten)
dust. However, if we stop to reflect on those being left behind:
Shouldn’t some of these antiquated, once beloved practices
deserve at least a proper goodbye?
AllDayIDreamAbout…Revenue
In an industry full of acronyms (um, ADR, ARI, KPI, OCC, RevPAR, RGI, anyone?), the mere thought of
having to learn two more might just send you over that proverbial edge. But before you go drowning
your woes with a couple of cold pints, it might help to know that our two new terms actually spawned
from the unintended impacts of social media (thanks a lot, Facebook) and are also relatable within your
everyday life…

I was looking for a revenue management
system that would help me be more
efficient with my time and increase our
revenues by making smarter, quicker
and more responsive decisions. IDeaS
was the most user friendly of all systems
I reviewed and didn’t make functionality
overly complicated.”
“
We want our guests to do their own thing,
and our take on revenue management is
similar. We need to be able to do our own
thing.”
“
– Acme Hotel Company
– Charming Inns®

WHO WE ARE
With more than one million rooms priced daily on its advanced systems, IDeaS Revenue Solutions
leads the industry with the latest revenue management software solutions and advisory services.
Powered by SAS®
and more than 27 years of experience, IDeaS proudly supports more than 8,700
clients in 106 countries and is relentless about providing hoteliers more insightful ways to manage the
data behind hotel pricing.
IDeaS empowers its clients to build and maintain revenue management cultures—from single entities
to world-renowned estates—by focusing on a simple promise: Driving Better Revenue.
IDeaS has the knowledge, expertise and maturity to build upon proven revenue management
principles with next-generation analytics for more user-friendly, insightful and profitable revenue
opportunities—not just for rooms, but across the entire hotel enterprise. For more information, visit
www.ideas.com.
Got time to read more? Visit our blog to subscribe for even more industry articles & insights
27+
years ago we
started helping
clients manage
their revenue
better.
clients later, we are still
finding revenue opportunity
in every situation.
95%+
of our clients still
work with us today.
106countries on six
continents have
hotels and car
parks that run on
IDeaS.
rooms around the world are
managed by IDeaS’ solutions.
8700+ 1.3M+
400+
team members
employed across
the globe.
18PhDs focused
on revenue
management.
7offices
located
worldwide.
132dedicated product
development and
research team
members.
©2017 Integrated Decisions & Systems, Inc. (IDeaS - A SAS COMPANY) – All Rights Reserved.
All other trademarks are the property of their respective owners.
EBOK0002-00-EE-ID 04/17

Revenue Perspective - by IDEAS

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