The world’s leading provider of automated revenue management software and services, IDeaS Revenue Solutions, has announced Profit Optimisation for G3 Revenue Management System (RMS). Profit Optimisation is an enhancement to the G3 RMS revenue science engine that enables it to capture the most valuable business while considering the total contribution for each guest.
This allows hoteliers to evaluate total revenues, profit margins for each revenue stream and the costs associated with acquiring and servicing guest stays in real time, while determining highly sought metrics such as profit per available room (ProPAR).
“To make profit optimisation possible in our G3 RMS, we’ve innovated a core optimisation process that enables hoteliers to book the most profitable business. We are pleased to be the first RMS provider to offer a holistic approach to total profit optimisation that automates all key business controls based on prioritising profit,” said Sanjay Nagalia, co-founder, COO, CTO, IDeaS.
IDeaS innovative, flexible profit optimisation engine uses any combination of ancillary revenues, margins, costs to acquire, and servicing costs to provide adjusted decision data. This results in the property management system or central reservation system yielding the value of reservations to account for profit.
Using Profit Optimisation in G3 RMS, hoteliers understand the true value of each guest segment and room type. This feature forecasts and enables the most profitable guest bookings, while incorporating data from other sources, such as restaurants, bars, retail, resort activities, casino gaming and more.
“For too long, profit optimisation has remained unattainable for the hospitality industry. While others have talked about it, or offered simple reporting solutions, IDeaS has been working to shift our clients’ mentality from focusing on enhancing room revenue to maximising the value of the guest going into that room,” said Nagalia.
IDeaS G3 RMS uses a unique and proven approach that automatically produces a combination of decisions. Working together, these decisions maximise overall profit rather than prioritising revenue per available room (RevPAR).