IDeaS Breaks the Rules with New Superior Agile Pricing Approach
Agile Rates enables simultaneous dynamic pricing of independent and linked hotel products using deep learning to maximize profitability from all priceable products.
Hoteliers unanimously agree: the distribution landscape is more complicated than ever before. As the consumer buying experience evolves and adapts to new interfaces like voice-enabled artificial intelligence, hotels seek the same level of sophisticated innovation in their revenue technology. Dynamic pricing and personalized offers are as pertinent as ever to compete with OTAs and the sharing economy to boost direct sales and profitability.
Solving this complexity, IDeaS Revenue Solutions has taken revenue strategy to a new level with the introduction of Agile Rates—a fundamental change in pricing strategy designed to incorporate flexibility and simplicity into a hotel's revenue productivity engine. Available on the hospitality industry's most widely-adopted revenue technology, IDeaS G3 Revenue Management System (RMS), Agile Rates provides the ability to price and distribute key linked or independent products for the wider market or specific guest micro-segments.
"Pricing products independently is not a new concept, but revenue leaders have been forced into rigid pricing structures and rules-based tactics," said IDeaS' Chief Operating Officer Sanjay Nagalia. "Agile Rates breaks free from those limitations, allowing hotels to manage their business as needed, using multi-product optimization to jointly maximize both independent and linked products." Powered by the world's most sophisticated AI capabilities, Agile Rates provides IDeaS G3 RMS with superior visibility into a hotel's rate strategy—understanding the relationships between products—which results in dramatically smarter pricing decisions and ultimately greater revenues.
This technology, as part of IDeaS' Ideal Pricing capabilities, offers hospitality organizations the ultimate in flexibility to personalize rate plans such as loyalty, advance purchase or other packages to enhance the guest shopping experience. Agile Rates empowers hoteliers to affect pricing strategy through multiple dimensions of demand, guest behavior and product attributes to build the most relevant and unique price and product for the guest.
"Our commitment to innovation and elevating what's possible for our clients is what drove the inception of Agile Rates," continued Nagalia. "The industry is shifting away from pricing products in isolation based on a set of manually-applied parameters or fixed discounts. They seek truly adaptive machine-learning powering a holistic optimization of their entire business through flexible cloud technology, and IDeaS Agile Rates delivers that."
Visit IDeaS Live at HITEC 2018
Visitors to HITEC are encouraged to stop by the IDeaS booth (1704) for a live demonstration of pricing and revenue control with Agile Rates. At HITEC, IDeaS will provide information on voice-integration capabilities, new resort functionalities such as per-person pricing and the innovative meetings & events tool, Smart Space by IDeaS.
Attendees at the co-located Revenue Optimization Conference (ROC) can find IDeaS at the George R. Brown Convention Center (1001 Avenida De Las Americas, Houston, TX).
Discover more about IDeaS Agile Rates in the Hotel Pricing, Reinvented video.
IDeaS, a SAS company, is the world's leading provider of revenue management software and services. With 30 years of expertise, IDeaS drives better revenue for more than 10,000 clients in 124 countries. Combining industry knowledge with innovative, data-analytics technology, IDeaS creates sophisticated yet simple ways to empower revenue leaders with precise, automated decisions they can trust. Results delivered. Revenue transformed. Discover greater profitability at ideas.com.
Click here to view the original version of this release.Property TechnologyRevenue ManagementGlobal