Hospitality Industry Technology Exposition & Conference
Metro Toronto Convention Centre
Toronto, ON, Canada
Hospitality Industry Technology Exposition & Conference
November 14–15, 2017
IDeaS Blog 14 June 2017
Contrary to any widespread belief, hotel meetings and events space does more than just sell guestrooms. In fact, for many hotels, the profit potential of this revenue stream is so significant that it can contribute 40-60% of their total profits. When it comes to leveraging this event space strategically, however, it’s often one of the most overlooked opportunities for substantial revenue generation.
IDeaS Blog 8 June 2017
IDeaS first introduced automated decisions to the world of hotel revenue management nearly 30 years ago. At the time, many hoteliers had concerns about letting revenue management software implement their rate and inventory decisions automatically within their various booking systems. Over time, however, they quickly recognized the significant benefits this provided, in addition to the value of better consistency, reliability and profitable revenue optimization. After all, why not use the power of analytics to take care of the tactical and time-consuming routines around forecasting, optimization and decision making? By doing so, it allowed hoteliers and their teams to focus more of their time and energy on strategic aspects.
IDeaS Blog 1 June 2017
IDeaS Advisory Services answers some of the commonly-asked questions from hotels across the globe Neil Corr, IDeaS senior advisor in EMEA, discusses the different ways today’s hotels can achieve intelligent revenue strategies in a Big Data-driven world. With the growing sources of data today—especially with new demand, market and travel intelligence data—what’s the best way to ensure we have a smart revenue strategy?
IDeaS Blog 30 May 2017
For a lot of hotels, summer is anxiously peeking around the corner. Along with the anticipation of rising temps, poolside parties and sun-drenched days, hotel marketing and revenue strategies are also heating up for the year. With group blocks fairly solidified for upcoming months, marketing and revenue departments are actively trying to fill potential valleys and extend those summer travelers with attractive promotions and offers.
IDeaS Blog 25 May 2017
IDeaS and OTA Insight partnered together to give hoteliers an edge over their competitors by providing them with industry-leading revenue management solutions. CEO and co-founder of OTA Insight, Adriaan Coppens, was recently recognised by HSMAI as being one of Europe’s Top 20 Extraordinary Contributors to the Industry for his leadership and as a leading innovator at the IDeaS Global Partner Ecosystem Awards. Vivek Bhogaraju, director of global strategic alliances and initiatives at IDeaS, had the opportunity to sit down with Coppens to discuss how mutual clients are benefiting from the IDeaS and OTA Insight partnership.
IDeaS Blog 23 May 2017
The inherent nature of revenue management is mathematical and scientific. We tout complex formulas, data modeling, machine learning, predictive analytics, prescriptive analytics, and the list goes on. The marketing department likes to tell me we literally have algorithms that could go for days. (I’m concerned they don’t know what “literally” means.)
IDeaS Blog 16 May 2017
Why do guests cancel and re-book hotel reservations? Well, that’s easy: Because they can, and because it makes economic sense—people don’t want to spend more money than they have to. In the eye of the traveler, freeing up money on a hotel stay frees up money to spend on other enjoyable aspects of a trip
IDeaS Blog 9 May 2017
With the 40th anniversary of “Saturday Night Fever” upon us, Vanity Fair recently described the pop culture movie as a “fun 70s curiosity with pitch-blackness.” The special anniversary release of this iconic film not only elicits nostalgic memories of obnoxious white suits and slick dance moves, but it also leaves me thinking about hotels and their Sunday night pricing. You see, Sunday nights can also be considered a fun curiosity with a bit of pitch-blackness.
IDeaS Blog 19 April 2017
Join Cornell’s Sheryl Kimes for an upcoming webinar on what revenue management will look like in 2022! How far has revenue management come in the past six years? Where is it headed in the next six? Sheryl E. Kimes Ph.D., professor at Cornell University’s School of Hotel Administration, posed those questions to nearly 400 revenue management professionals from across the globe to get their thoughts on the future of the industry.
IDeaS Blog 11 April 2017
In today’s ultra-competitive hospitality marketplace, any competitive edge can translate into a stronger bottom line, and it’s no secret that driving direct business and better revenue is one of the top priorities facing all hoteliers. Successful revenue management and direct business practices are vital in increasing profits for every organisation. Tried and true principles will help your organisation yield triumphant results, and avoid the pitfalls of inconsistent tactics which rapidly diminish revenue performance.
IDeaS Blog 27 March 2017
As the old saying goes: “There’s a fine line between love and hate.” The same could be said for your revenue strategy and its ability to positively impact your hotel’s profits. Play your cards strategically and insightfully, and your hotel reaps rich and profitable rewards. But take a turn toward lackadaisical revenue approaches, and you just might experience the heartbreak of disappointing KPIs and mediocre market performance.
IDeaS Blog 8 March 2017
Hotel service is built around team work. From front desk rock stars to detail-oriented room attendants to friendly and personable bartenders, every department and every job role plays a fundamental role in crafting the ultimate hotel guest experience.
IDeaS Blog 1 March 2017
Announced in 2016, IDeaS and TravelClick partnered together to enhance revenue management strategy by combining the future-looking competitive market intelligence of TravelClick's Demand360 with the powerful best-in-class analytics of IDeaS' revenue solutions. Mike Chuma, vice president of product strategy with IDeaS, had the opportunity to sit down with Greg Sheppard, senior vice president of business The post Industry Insights With: TravelClick's Greg Sheppard appeared first on IDeaS.
IDeaS Blog 21 February 2017
If you work in revenue management, chances are you’ve heard of terminology like price elasticity, unconstrained demand and personalization. These terms play an integral part in building the ideal revenue strategy that drives the most valuable business by helping hotels price, manage inventory and optimize their business mix. At the end of the day, however, these terms – and the data that drives them – still revolve around numbers.
IDeaS Blog 16 February 2017
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.
IDeaS Blog 7 February 2017
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.
IDeaS Blog 25 January 2017
Chess is a well-known game of analysis. When playing for the first time, one often lacks the knowledge to think strategically. Over time, however, one begins to weigh possible outcomes for every decision, even when it’s their opponents turn. The ability to understand and analyze all potential scenarios and outcomes will lead to more wins.
IDeaS Blog 18 January 2017
If you’re renovating your home, you often move your living spaces away from the construction area or go stay with family for a short period of time. While inconvenient, it’s typically a very doable option to accomplish temporarily. Besides, after the disruption you’ll get to enjoy the wonderful new spaces in your house.
IDeaS Blog 4 January 2017
The roadmap to long-term, positive revenue performance can be achieved strategically and tactically with several key steps and considerations in place. Here are six considerations for mapping out your revenue roadmap
IDeaS Blog 28 December 2016
Do general managers and revenue managers need to form a hotel alliance? Absolutely they do. Revenue managers and general managers both drive their hotels toward achieving gilt-edge revenue performance. However, they may approach the goal of revenue management with varying strategies. While revenue managers make strategic and tactical decisions designed to capture the highest revenues, general managers typically view revenue management more broadly – their ardent eye on revenues is just one part of their focus on big picture success.
IDeaS Blog 30 November 2016
Hotels encounter change every single day, experiencing changes in guests, rates, menus, events and staff. At an even higher level, hotels experience changes in management, brands, job responsibilities, revenue strategy and guest expectations. Widespread changes in distribution, technology, analytics and industry mergers also affect the hospitality industry in nearly every region.
IDeaS Blog 23 November 2016
Revenue management doesn’t often find itself associated with mythical unicorns or other infamous folklore, but there are still some very common misconceptions that tend to swirl around the importance of its technology within the hospitality industry. Here are four common revenue management myths and why they’ve been officially been busted by today’s automated revenue management technology.
IDeaS Blog 16 November 2016
Hotel revenue management has evolved into a very different science from what it was when airlines began using it many years ago, and one of the fascinating aspects of observing its evolution is tracing it back to those airline beginnings. Why did airlines initially begin adopting revenue management approaches and how has it evolved to The post Taking Flight: The Science of Revenue Management appeared first on IDeaS.
IDeaS Blog 14 November 2016
Having worked intimately with revenue management solutions, implementations and training at many different hotel portfolios such as InterContinental Hotels Group, Shangri-La Hotels, Pan Pacific Hotels and PARKROYAL for nearly two decades, I’ve experienced the effects of successful implementation and change management practices within different organizational ranks of the hotel structure.
IDeaS Blog 7 November 2016
Expectations for the hospitality industry grow stronger with every year – and the shelf life of how long a competitive offering is considered leading-edge before it becomes just another standard guest expectation has dramatically decreased over the recent years. For example, free Wi-Fi and complimentary happy hours – once competitive selling points for hotels – are no longer lucrative offerings for guests to come by.