Hotel Profitability Automated With Intelligent Use of Data
SIHOT Extends IDeaS G3 RMS Integration to Maximize Profitability by Utilizing Extensive Data Points
Machine learning is delivering enhanced hotel profitability, continually optimizing pricing and inventory controls using SIHOT and IDeaS. The integration takes advantage of SIHOT 's comprehensive hotel management data paired with IDeaS G3 Revenue Management System (RMS) to deliver exceptional results for hotels.
The enhanced two-way interface provides unique benefits surfacing more meaningful data from across a property or group. It optimally prices each key product using unique characteristics and relationships between products and room types. This easy-to-use approach ensures analytically priced products to further personalize guests' booking journeys.
Underpinned by advanced data science to continually improve pricing decisions, G3 RMS incorporates historical and on-the-books transactional data along with market intelligence to deliver accurate demand forecasts, room type pricing, and rate availability decisions. The system provides insight into cancellation and no-show patterns, price sensitivity, and market behavior maximizing RevPAR while taking into account specific property restrictions and overbooking thresholds.
"As long-term partners, IDeaS and SIHOT have always set the bar high to provide quality solutions for the hospitality industry," said Carsten Wernet, Chief Executive, SIHOT. "Our new integration to G3 RMS takes hotel revenue optimization to the next level to really benefit from the wide cross-section of data within a hotel's system, together with valuable economic and third-party data. Hotels see the necessity to react faster to the market, have greater visibility and transparency over rate decisions, and move to focus on overall profitability. This enhanced integration helps them achieve that."
The new connectivity supports G3 RMS' unique pricing approach that goes beyond rate tiers and fixed offsets to set the optimal price by room type to elevate overall profitability and competitiveness. Using advanced analytics to flexibly price products such as advance purchase, loyalty, packages, promotional rates and more, hoteliers can capture incremental revenue by dynamically adjusting discount percentages or amounts based on demand patterns such as season, days to arrival, day of week and room type.
"Hoteliers receive exceptional value from this new interface thanks to the sheer range of data which is accessible via SIHOT," said Sanjay Nagalia, co-founder, COO and CTO, IDeaS. "With more data points to work with, our G3 RMS is an incredibly powerful tool that provides precise forecasts and optimizes pricing and overbooking decisions. This enables our partner hotels to respond to every market change, whether large or small, giving hoteliers an even greater advantage over their competition in a continually volatile market."
Customers currently live with the SIHOT/IDeaS enhanced connection include Travel Charme Hotels & Resorts and Brera Serviced Apartments.
Egor Fast, distribution at Brera Serviced Apartments, said, "As a serviced apartment provider focusing on the long stay business, our requirements are, to a certain point, unique. SIHOT provides support for all our requirements with IDeaS G3 RMS, and we are convinced this collaboration will lead to revenue increases and sales optimization."
SIHOT upgraded the direct connection with IDeaS to provide access to a wider pool of data needed to manage comprehensive and intuitive functionality in G3 RMS. Find out more at sihot.com