Accurate Forecasting: The Mandarin Oriental Story
“As market demand continued to change, I needed to be able to communicate the necessary information to the organization in the most concise, efficient way. We chose the IDeaS Revenue Management System because it provided smart, simple technology that allowed me to generate reports and process information quickly and accurately.”
The Mandarin Oriental San Francisco, a luxury hotel with 158 rooms, is one of 20 hotels operated under the Mandarin Oriental flag that ranges across four continents and continues to expand into new markets.
The Challenge
- Anticipate and confidently predict competitive set information
- Produce more highly accurate forecasts, and process information quickly and accurately
Mandarin Oriental needed something user-friendly, online, accessible, and highly viewable where the hotel’s director of revenue management could open a case and immediately have questions answered. With the increased pressure of being required to pull data quickly, stay ahead of the game, and anticipate market changes, the director of revenue management needed to provide up-to-date information to hotel management efficiently and most importantly, accurately.
The Solution
“Research that once took me a full day now takes about 30 minutes. The data extraction functionality is superior and I use the forecasting tools and export it directly into presentations I’m already working on. This allows me to rapidly provide my colleagues with the information they need.”
- Easily accessible reports, tailored to specific needs
- Automated updating of forecast patterns
The IDeaS Revenue Management System offers an intuitive user interface, providing a spectrum of valuable data, easy-to-read graphics and information on key hotel performance indicators. For reporting on a routine basis, the system offers monthly graphical views of Estimated Room Revenue, Occupancy, Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) – extremely beneficial for the director of revenue management to quickly communicate status reports to the organization.
The Results
“I was recently ranked number two in the organization for forecasting accuracy, the IDeaS Revenue Management System enables me to do my job more accurately and more efficiently.”
- Increased confidence and accuracy
Further supporting Mandarin Oriental’s goal of heightened efficiency, the IDeaS Revenue Management System features customized reporting functionality designed to highlight industry trends and consolidate relevant information for quick exporting into presentations. The consistent, accurate, and highly specific data allows Mandarin Oriental to anticipate and confidently predict competitive set information received from subscription services each day.