Thursday, May 16th, 2013 - Boutique Hotel Group Selects IDeaS Pricing System for Use in All Properties
IDeaS Revenue Solutions, the leading provider of pricing and revenue management software, services and consulting, announced that myhotels group is implementing IDeaS Pricing System at its three locations in the UK; myhotel Bloomsbury, myhotel Chelsea and myhotel Brighton.
myhotels prides itself on pushing the boundaries of technological innovation from both a consumer and operational perspective. The group consists of three unique properties in two different cities and marketplaces. Accordingly, myhotels required a fully optimised and intuitive pricing solution for each location that would quickly react and respond to changes in demand whilst considering competitor effects on pricing.
With strong intentions for further expansion of its portfolio, the group’s decision-making required a more analytical and streamlined approach. IDeaS Pricing System provides the group with automated intelligence and a forecast accuracy that further increases its organizational focus on revenue management and dynamic pricing.
Chris Martin, Commercial Director for myhotels group said, “The system enables us to precisely forecast occupancy, quickly set room rates and ultimately make more competitive pricing decisions for each of our properties.”
IDeaS Pricing System provides a demand forecast so that users can better understand the peaks and troughs of the business in order to manage them proactively. “The system allows the team to manage by exception and focus on the strategic decisions rather than day-to-day tactical and time consuming inventory management,” explained Martin, “it provides reliable analytical data to the entire team.”
Fabian Specht, EMEA Managing Director at IDeaS, said, "Weare delighted to be supporting myhotels to manage its business in a more successful way. With such a dynamic market landscape, it is important for a hotel to proactively lead the way by using technology to deliver greater intelligence and analytics. It is great to see a boutique hotel group recognizing this and embracing our technology to put itself at the forefront of revenue innovation in its field.”