A new collaboration between Hyatt Hotels Corp. and IDeaS, a provider of hospitality revenue optimization software and services, aims to supercharge Hyatt’s commercial revenue efforts. The hotel company, which has more than 1,150 properties around the world, will deploy IDeaS’s suite of products globally.
“At Hyatt, we offer the benefits of a global network yet remain nimble enough to create true personal connections,” said Michael Klein, Hyatt’s VP of global revenue management. “Collaborating with a known innovator and disruptor in the revenue management space like IDeaS alongside Hyatt’s unique vision for innovative capabilities can create a differentiating value proposition for Hyatt owners and operators and make it easier for property colleagues to focus on what they do best—care for guests and customers.”
Hyatt will leverage the products for profit optimization, developing strategic workflows and modular-based personas to drive best-in-class adoption across its global portfolio.
Key features of the partnership include:
- Modularity and flexibility: IDeaS’ technology and service approach will enable Hyatt to support the complex needs of its hotel portfolio and ownership types. The platform factors in the unique qualities and differences of each property to operationalize across the brand.
- Automation that equals profit: This data-driven approach will empower Hyatt to strategically drive performance and profit across its portfolio by focusing on artificial intelligence-driven opportunities in today’s increasingly complex travel landscape.
- Organizational growth empowered by innovation: IDeaS’ history of innovation delivers against Hyatt’s need for next-level organizational empowerment, leveraging capabilities such as guest, group, and events space profit optimization, streamlined financial forecasting capabilities and powerful enterprise business intelligence solutions.
- Collaboration across commercial teams: Dedicated training and enablement efforts will ensure that colleagues at each property engage in the set-up and configuration process unique to their business needs.
“We are ecstatic to be working with Hyatt, one of the world’s largest and most dynamic and forward-thinking hotel organizations. It is a significant client addition for IDeaS, given the breadth of their portfolio across market segments and the strength of footprint, both domestic and international,” said Mike Chuma, VP Marketing for IDeaS.
Chuma said IDeaS takes pride in its ability to function as a strategic business partner rather than simply a revenue management software provider: “This is due to our incredibly strong track record of supporting large, complex organizational transitions, like Hyatt, with our world-class support and industry training programs.”
Sanjay Nagalia, co-founder and chief operating officer at IDeaS, said the transformation of Hyatt’s commercial revenue platform is a moment of “unparalleled opportunity.”
“As the recovery in travel broadens and new toolsets emerge, we are pleased to bring IDeaS’ market-leading automation, pricing approach, and a singular focus on holistic, profit optimization to Hyatt’s portfolio of properties,” he said.
According to Chuma, IDeaS’ data-driven focus on continuous improvement and automation will empower Hyatt to strategically drive performance across its portfolio.