IDeaS and SIHOT Expand Partnership to Provide Seamless Two-Way Data Integration for Hoteliers

Long-Term Partnership Optimizes Revenue for all Hotels and Room Types and Delivers Increased Operational Effectiveness Through Automated Pricing Decisions

USA, Minneapolis, Minnesota. June 04, 2020

IDeaS, the leader in revenue management solutions, announced today a new technology integration with SIHOT. The two-way data integration between IDeaS' revenue management solutions and SIHOT's leading property management software, SIHOT.PMS, will help the global hotel industry accurately forecast business demand, maximize occupancy and ADR and increase overall operational effectiveness through automated pricing decisions.

· Increases revenue, productivity and profitability - Continuous innovation from industry leaders SIHOT and IDeaS provides a sophisticated two-way integration that enables hotels to better leverage revenue optimization and operational performance and delivers a powerful data exchange that enhances both technologies.

· A powerful combination - The integration utilizes SIHOT's technology to provide a continuous and complete data-sharing connection between systems via HTNG/OTA XML messaging. The seamless combination provides accessible pricing and availability data to empower revenue strategies and accurate forecasting.

David Warren, director of international sales, SIHOT, said: "No matter the size or operational complexity of a property, this integration provides hoteliers with increased efficiency and revenue performance. Our dynamic, easy-to-use user interface, automated procedures and reservation data combined with the deep, analytical insight provided by IDeaS delivers the latest in automated, machine-learning technology."

Joseph Martino, chief business development officer, IDeaS, said: "A partnership such as this is a result of many years of cooperative innovation and communications. Hotels that rely upon SIHOT for its state-of-the-art property management system and IDeaS for its leading data-driven revenue management solutions can now take advantage of powerful pricing and forecasting capabilities for a more confident revenue strategy."


IDeaS and SIHOT Provide Seamless Two-Way Data Integration for Hoteliers
/ SLIDES
Tags: revenue management, technology, partnership, SIHOT, revenue science

About IDeaS - A SAS Company

About SIHOT

Media Contact:

Kim Dearborn
Public Relations Manager
MFC Public Relations
T: 909-455-4316
E: kim@mfcpr.com
W: http://www.mfcpr.com

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Revenue Management: Maximizing Profit

Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.