SAS company IDeaS has announced that Iconic Hotels by Geocon has adopted IDeaS G3 Revenue Management System (RMS) across five of its Australian-based properties to automate daily pricing tasks and drive Average Daily Rate (ADR) performance.
The company, which is one of the leading providers of hotel revenue management software and services, came to the assistance of Iconic Hotels after it faced complex revenue management issues that relied heavily on manual intervention, especially following a period of organisational growth.
These inefficient processes were prone to errors, potentially impacting the hotel group's profitability. Iconic hotels urgently needed to upgrade their systems to stay competitive and match rival properties' pricing activities.
"Data analysis, its interpretation, and decision implementation directly impact our hotels' ability to generate revenue," says Rudy Kalele, Director of Revenue, Distribution, and Central Reservations for Iconic Hotels.
"Iconic Hotels required an automated solution that matched our competitors' systems and processes, ensuring that we were pricing ourselves correctly in the market and not leaving money on the table."
"In this context, we were particularly interested in IDeaS G3 RMS because not only does it generate prices that adapt to market changes, but it also considers the competitive landscape and a guest's willingness to pay."
Iconic Hotels selected IDeaS G3 RMS after an extensive market audit and in-depth trial of various RMS on the market, ultimately choosing IDeaS based on its system performance and usability.
IDeaS G3 RMS features interactive dashboards and reporting tools that provide Iconic Hotels with an accurate picture of property performance and market demand, helping to identify new revenue opportunities.
"IDeaS G3 RMS stands out for its flexibility in adapting to market deviations, allowing us to align with current conditions," adds Kalele.
"Additionally, the system's ongoing optimisation provided by the RMS ensures accurate rate decisions and forecasts that closely align to the final monthly numbers, which supports ongoing operational and business planning."
Since working with IDeaS, Iconic Hotels has experienced increased ADR performance across all five properties using the system and increased sales from higher-tiered and more profitable room categories.
Key staff members can now focus on higher-value operational and strategic activities by automating daily revenue management tasks.
"IDeaS is excited to work with Iconic Hotels in Australia to automate its revenue management process and enhance its pricing strategies. With IDeaS G3 RMS, Iconic Hotels by Geocon has automated daily revenue management processes," says Jurgen Ortelee, Managing Director of APAC, IDeaS.
"It now makes pricing decisions with a comprehensive understanding of its competitors' positions, facilitating optimal pricing for its rooms and ancillary services. This supports ongoing revenue growth for the hotel group."