Brand Karma has advanced its partnership with IDeaS Revenue Solutions to launch an solution called the IDeaS Reputation Pricing module. Integrated into the IDeaS revenue management system pricing analysis, the IDeaS Reputation Pricing module enables hotels to make reputation-aware pricing decisions by factoring in social media sentiment data.
The data comes from Brand Karma iO, the social business intelligence tool that analyzes a hotel's online reputation against its competitors. Using this data, the IDeaS Reputation Pricing module recommends a best available rate (BAR) by considering a hotel's online reputation against its competitors. Key benefits include:
•Identify, validate, and quantify the revenue opportunity of reputation impacted pricing
•Assess and visualize market position in relation to competitors' rate and reputation performance
•Realize revenue opportunities and strengthen a hotel's overall revenue management program
Shangri-La Hotels and Resorts participated in the charter program of the IDeaS reputation pricing module.
"This will enable us to look at sentiments and reputation data in combination with rates and performance, which is very exciting," said Siv Forlie, vice president of corporate revenue management of Shangri-La Hotels and Resorts, which participated in the charter program of the IDeaS Reputation Pricing module. "We are already seeing interesting correlations, and we look forward to further developing measurements in this area to learn more about how reputation can possibly impact pricing."
The IDeaS Reputation Pricing module will be available in an upcoming release of IDeaS RMS this month.