IDeaS Introduces Profit Optimization for G3 RMS, Enabling Holistic Guest Value Maximization
Profit Optimization Evaluates Total Revenues, Profit Margins and Guest Acquisition/servicing Costs to Capture Most Valuable Bookings
HITEC Booth #3401 (Kay Bailey Hutchison Convention Center Dallas)-IDeaS Revenue Solutions, the world's leading provider of automated revenue management software and services, announced today Profit Optimization for G3 Revenue Management System (RMS).
Profit Optimization is an enhancement to the G3 RMS revenue science engine that enables it to capture the most valuable business while considering the total contribution for each guest. This allows hoteliers to evaluate total revenues, profit margins for each revenue stream and the costs associated with acquiring and servicing guest stays in real time, while determining highly sought metrics such as profit per available room (ProPAR).
- Gain a holistic view of profit - IDeaS' innovative, flexible profit optimization engine uses any combination of ancillary revenues, margins, costs to acquire, and servicing costs to provide adjusted decision data. This can result in the property management system or central reservation system yielding the value of reservations to account for profit.
- Forecast the most profitable business - Using Profit Optimization in G3 RMS, hoteliers understand the true value of each guest segment and room type. This feature forecasts and enables the most profitable guest bookings, while incorporating data from other sources, such as restaurants, bars, retail, resort activities, casino gaming, and more.
- Optimize all guest bookings - G3 RMS uses a unique and proven approach that automatically produces a combination of decisions. Working together, these decisions maximize overall profit rather than prioritizing revenue per available room (RevPAR).
Sanjay Nagalia, co-founder, COO, CTO, IDeaS, said: "For too long, profit optimization has remained unattainable for the hospitality industry. While others have talked about it, or offered simple reporting solutions, IDeaS has been working to shift our clients' mentality from focusing on enhancing room revenue to maximizing the value of the guest going into that room. To make this possible, we've innovated a core optimization process that enables hoteliers to book the most profitable business, and today, we are pleased to be the first RMS provider to offer a holistic approach to total profit optimization that automates all key business controls based on prioritizing profit."
Learn more at HITEC and ROC 2021: Meet the IDeaS team and grab a limited-edition IDeaS ProPAR Bar-sweet chocolate, sweeter profits. HITEC attendees are invited to visit booth #3401 at the Dallas convention center. Attendees at the coinciding HSMAI Revenue Optimization Conference can find IDeaS at the Omni Dallas Hotel.