IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

Align your technology stack to drive hotel revenue performance

By Contributor
Fri 22 Apr 2022

Many hoteliers are aware of the benefits of departmental collaboration. It’s been proven that when a hotel’s various revenue-generating departments work effectively together, they report revenue increases of more than six per cent, increased market share, and increased demand for shoulder and low-demand periods. The goal is to ensure uniform IT systems are in place to remove boundaries and prevent revenue-generating business units from operating in isolation.

The key to practising effective rooms revenue management is the ability to collect and analyse data and to produce pricing and inventory control decisions in an automated way. Rooms revenue management data sits predominantly in the property management system (PMS) and is generally accurate.

While hotels increasingly appreciate the benefits of collaboration between departments, key operational technologies—such as central reservation systems (CRS) and revenue management systems (RMS) —are commonly still not fully integrated. This lack of integration significantly increases the manual workload of revenue and reservation teams, which risks rate or inventory disparities occurring online and can result in substantial revenue loss.  

When hoteliers expand their focus outside the core rooms business, challenges often present due to a lack of supporting technologies. Many hoteliers do not apply the same systems and standards to non-room revenue-generating departments like restaurants and health spas, relying instead on spreadsheets and more manual processes that do not give a clear picture of demand. 

Technology alignment is crucial to extend the benefits of inter-department collaboration within a hotel. To ensure alignment, a hotel needs to develop property minimums and standards for data tracking and non-rooms systems. Data integrity and integration should be key areas of focus when outlining internal standards, given how greatly they will inform future business decisions. 

IDeaS and RMS Cloud have partnered to build a two-way interface between RMS Cloud’s Hotel PMS and IDeaS’ revenue solutions to deliver hotels a synchronised technology stack today. The partnership facilitates the smooth transfer of data between the systems to further automate and optimise key revenue management tasks like analytically derived pricing decisions. It will enable hoteliers to maximise occupancy and increase revenue through an advanced technology integration that provides visibility into rate strategy and drives smarter decisions to achieve greater revenues. 

“In order to attract guests at the right price and maximise revenues in a disrupted market today, hoteliers must have an integrated technology stack to ensure all of their systems are working seamlessly together to support business recovery. The partnership between IDeaS and RMS Cloud will allow for the smooth transfer of data between the PMS and the RMS, removing the need for manual handling of data, freeing up time for revenue managers to focus on what really matters—growing business and revenues,” says IDeaS chief evangelist and development officer, Klaus Kohlmayr. 

The enhanced integration between IDeaS and RMS Cloud allows hoteliers to easily leverage advanced analytics to flexibly price products such as advance purchase, loyalty, packages, promotional rates, extended stay, opaque channels, and more. This, in turn, provides guests with tailored product offerings based on unique demand profiles. The two systems synchronise regularly and automatically update rates as scheduled multiple times daily, saving time and allowing the machine-learning algorithm to get smarter with every new data input.

Maximising revenue outcomes across a whole property requires technology integrations that can aggregate and transform large data sets into real business intelligence. Advanced software systems can analyse data through powerful algorithms and make accurate demand forecasts and strategic pricing decisions for all revenue-generating departments within a hotel. Coordinated, integrated operational technologies enable hoteliers to employ more powerful pricing strategies and grow profits by not leaving revenue on the table.
 

Related stories
Top stories
Story image
Artificial Intelligence
Gartner reveals top three tech trends for banks this year
Gartner says generative artificial intelligence, autonomic systems and privacy-enhancing computation are gaining traction in banking and investment services.
Story image
MEC
MEC spending for private cellular networks to reach $5.8b
A new ABI Research report finds the revenue for Multi Access Edge Compute (MEC) deployments for private cellular networks will reach USD$5.8 billion by 2030.
Story image
Sustainability
SoftIron named global leader for efficient DC infrastructure solutions
SoftIron has been named a global leader for supplying energy-efficient data infrastructure solutions for core-to-edge data centers after an assessment by Earth Capital Ltd.
Story image
Ponemon Institute
Email revealed to be riskiest channel for data loss
More than half (60%) of organisations experienced data loss or exfiltration caused by an employee mistake on email in the last 12 months.
Story image
Migration
Let’s clear the cloud visibility haze with app awareness
Increasingly, organisations are heading for the cloud, initiating new born-in-the-cloud architectures and migrating existing applications via ‘lift and shift’ or refactoring.
Story image
Boost Mobile
Boost Mobile now makes up over 7% of Aussie prepaid market
Boost Mobile has doubled its market share over the past four years and now has more than 7% of Australia's prepaid market, equivalent to over 700,000 people.
Story image
Surveillance
i-PRO releases smallest AI-based surveillance camera on the market
The new i-PRO mini network camera is now available, with a pocket-sized form factor and full AI analytics functionality.
Story image
Sustainability
Aligned Data Centers increases sustainability-linked loan
Aligned Data Centers has increased its sustainability-linked loan from $375 million to $1.75 billion to speed up the next phase of its strategic growth.
Story image
Cybersecurity
More than 40% of banks worried about cloud security - report
Publicis Sapient's new report finds security and the lack of cloud skills and internal understanding of business benefits are big obstacles for banks moving to the cloud.
Story image
Sustainability
Equinix announces milestones on sustainability commitments
Equinix has released its 2021 Sustainability Report which outlines progress, innovation and accomplishments on key ESG commitments.
Story image
Vectra AI
Understanding the weight on security leader’s shoulders, and how to shift it
Millions of dollars of government funding and internal budgets are being funnelled into cybersecurity to build resilience against sophisticated threats, indicating how serious this issue has become.
Story image
Rackspace
Skills shortages hold orgs back from capitalising on cloud 2.0
Organisations are becoming more comfortable with sophisticated 'cloud 2.0' technologies, even as they confront difficulties in hiring and retaining IT talent.
Story image
VPN
The most common online scams in Australia
No one is safe from online scammers, and many of these scammers have capitalised on the pandemic, using this confusing time to attack more people than ever.
Story image
CrescoData
SPS network now available to CrescoData eCommerce customers
CrescoData, a Pitney Bowes Company and PaaS business in the commerce space, says its customers can now connect to the SPS Commerce Retail Network.
Story image
Digital Transformation
The Huawei APAC conference kicks off with digital transformation
More than 1500 people from across APAC have gathered for the Huawei APAC Digital Innovation Congress to explore the future of digital innovation.
Story image
Cyber attacks
Devastating cyber attacks expected to hit energy sector
Energy executives anticipate life, property, and environment-compromising cyber attacks on the sector within the next two years.
Story image
DaaS
NetApp launches Spot PC, a new Desktop-as-a-Service solution
This is a new managed cloud DaaS solution with security, automation, observability and optimisation capabilities, designed for the needs of today.
Story image
Artificial Intelligence
Frost & Sullivan recognises Genesys as leader in new reports
Frost & Sullivan has recognised Genesys as a leader in the cloud contact centre market for its robust cloud and digital capabilities.
Story image
SpaceX
Australian space tech startup secures SpaceX support
Space Machines Company has secured the support of SpaceX as a launch partner in carrying SMC's Optimus Orbital Transfer Vehicle to space next year.
Story image
Managed service provider
Barracuda MSP Day 2022 highlights MSP opportunities
Barracuda Networks has released a report showing global services-related MSP revenue is set to increase by more than a third in 2022 compared to 2021.
Story image
Ransomware
APAC organisations fail to disclose ransomware breaches
85% of organisations in APAC were breached by ransomware at least once in the past five years, but only 28% publicly disclosed the incident.
Story image
Women in Technology
Huawei webinar emphasises the importance of women in tech
Industry findings by Coursera discussed as part of a webinar jointly organised by Huawei and Reuters Events found 6% more women enrolled in tech courses this year than in 2021.
Story image
Training
Trojan cyber attacks hitting SMBs harder than ever - Kaspersky
In 2022 the number of Trojan-PSW detections increased by almost a quarter compared to the same period in 2021 to reach 4,003,323.
Story image
Silver Peak
The path to an adaptive, modern network
Managing and securing the network looks different than it did just two years ago—especially given that most of these networks are made up of multi-generations of infrastructure stitched together over time.
Story image
Digital Marketing
Getty Images delves into the world of NFTs with Candy Digital
Getty Images and Candy Digital, the next-generation digital collectible company, have announced a new multi-year partnership agreement.
Story image
New Relic
New Relic launches vulnerability management platform
New Relic has introduced New Relic Vulnerability Management to help organisations find and address security risks faster and with greater precision.
Story image
Cybersecurity
Cybersecurity prompts upgrade for 1.3 billion electricity meters
ABI Research finds Advanced Metering Infrastructure (AMI) and cybersecurity concerns are prompting the upgrade of 1.3 billion electricity meters by 2027.
Story image
Multi Cloud
Red Hat updates dev tools, empowers use of hybrid and multicloud
Red Hat has unveiled updates across its portfolio of developer tools, designed to help organisations build and deliver applications faster.
Story image
Alteryx
Alteryx releases updates, empowers data insights for enterprise
Alteryx has released new advancements designed to aid enterprises with cloud analytics, democratise insights and ensure data governance.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
GapMaps
GapMaps Live to improve brand decisions on physical locations
GapMaps has released its latest service GapMaps Live, giving more insights and features to help brands make better decisions about physical locations.
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Digital Signage
MAXHUB's Digital Signage range to bolster boardroom productivity
The new MAXHUB Digital Signage technology is purpose-built to make every kind of team meeting more effective.
Story image
Infrastructure
Nutanix study reveals financial services sector lagging with multicloud adoption
Nutanix has released new research that reveals the financial services sector is lagging behind when it comes to multicloud adoption.
Story image
Innovation
Fastly acquires Glitch, enables faster developer innovation
"This acquisition brings together two of the worlds best ecosystems for application development into a single, seamless developer experience."
Story image
Manhattan Associates
Shortening the click-to-customer cycle through smart technologies
Speed of delivery without accuracy is a dealbreaker for consumers. How can retailers operating in an omnichannel environment overcome the challenge of click-to-customer cycle times.
Story image
Training
Infosec unveils role-guided cybersecurity training roadmaps 
Infosec Skills Roles maps hands-on training and certifications to the 12 most in-demand cybersecurity roles to maximise training efficiency.
Story image
Kubernetes
Sysdig unveils new Kubernetes troubleshooting and cloud innovations
Sysdig has introduced two new innovations that look to help bolster cloud services and simplify Kubernetes troubleshooting.
Story image
ChildFund
ChildFund launches new campaign to protect children online
ChildFund says WEB Safe & Wise aims to protect children from sexual exploitation and abuse online while also empowering them to become digitally savvy. 
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.
Story image
Cybersecurity
Comcast to use ThreatQuotient for cybersecurity operations
Comcast, the parent company of NBC Universal and SKY Group, has chosen ThreatQ Platform and ThreatQ Investigations to meet their cybersecurity needs.
Story image
Broadband
Telstra enters into new RSP agreement with Opticomm
Telstra has entered into an RSP agreement with Opticomm (A Uniti Group Limited subsidiary) to provide network fibre services to customers.
Story image
Data Protection
Barracuda launches new capabilities for API Protection
"Every business needs this type of critical protection against API vulnerabilities and automated bot attacks," Barracuda says.