Special Report Highlights Hotel Investor Attitudes, Opportunities for Revenue Management Technology

Survey Data Reveals Revenue Technology Is Seen as Critical for Maximizing Asset Value and Enabling Commercial Strategies

USA, Minneapolis, Minnesota. September 07, 2023

IDeaS, a SAS, company, the world's leading provider of hotel revenue management software and services, released a special report in line with industry budget season. The report "Unlocking Hotel Performance: The Power of Revenue Management Technology Today," includes key insights into how investors view revenue technologies, the role of artificial intelligence in hospitality, and how technology is reshaping hospitality commercial organizations. Download the report here: https://go.rev.ideas.com/the-bigger-picture

Key takeaways include:

  • Increasing reliance on revenue management tactics to drive profitability: Inflation and other economic pressures may naturally lead some hoteliers to pursue cost-cutting measures to improve profitability, but a plurality of survey respondents viewed revenue management technology as both the best and fastest way to drive improvement in net operating income.
  • High investor satisfaction with revenue management software: Hoteliers are largely happy with their revenue management software investments, with 83 percent of surveyed describing the ROI for revenue management technology as "high" or "very high."
  • The importance of revenue technology is growing: The relatively turbulent recent past and the blistering pace of AI advancement are shifting revenue technology from a "nice to have" to an essential tool for success, with 71 percent of surveyed investors saying revenue management technology has become more important over the past three years.

Mike Chuma, vice president of global marketing, IDeaS, said: "This report confirms something we've observed in the market-for many investors, revenue management technology is shifting from being viewed as a way to get a leg up on the competition to more of a foundational tool needed to keep pace and maintain a healthy bottom line."

Unlocking Hotel Performance: The Power of Revenue Management Technology Today - The report features data conducted in a 2023 Benchmark Research Partners survey of hotel ownership and investment firms representing approximately 1,500 independent and chain properties worldwide.


IDeaS Unlocking Hotel Performance: The Power of Revenue Management Technology Today
/ SLIDES
Tags: revenue management, G3 RMS, hotel management, survey,

About IDeaS - A SAS Company

Business Contact:

Kim Dearborn
Public Relations Manager
IDeaS
T: +1 909-455-4316
E: [email protected]
W: http://www.ideas.com

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Coming up in October 2023...

Hotel Revenue Management: The Age of Big Data


The future of hotel revenue management lies in the adoption of ever more sophisticated software and technology, especially as it pertains to forecasting and pricing. For revenue professionals, the Age of Big Data has arrived. Managers are utilizing systems that employ leading-edge algorithms and machine learning, along with business analytics and data visualization tools. These tools communicate complex information more effectively, allowing managers to understand the key components driving demand and revenue. They have the ability to analyze real-time external and internal data, produce reports, and integrate information - all on a single platform - in order to improve performance. Managers are also utilizing  geographic information systems (GIS) which incorporate geographic data into forecasting. GIS also help decision-makers identify information in a visual way that cannot be detected through traditional data analysis. The October issue of the Hotel Business Review will report on how some hotels are integrating Big Data into their revenue management strategies.