IDeaS Revenue Solutions introduces agile rates, a fundamental change in pricing strategy designed to incorporate flexibility and simplicity into a hotel’s revenue-productivity engine. Available on IDeaS G3 revenue-management system, agile rates provide the ability to price and distribute key linked or independent products for the wider market or specific guest microsegments.
“Pricing products independently is not a new concept, but revenue leaders have been forced into rigid pricing structures and rules-based tactics,” IDeaS’ COO Sanjay Nagalia said in a statement. “Agile rates breaks free from those limitations, allowing hotels to manage their business as needed, using multiproduct optimization to jointly maximize both independent and linked products.”
Powered by sophisticated artificial intelligence capabilities, agile rates provides IDeaS G3 RMS with visibility into a hotel’s rate strategy—understanding the relationships between products, which results in dramatically smarter pricing decisions and ultimately greater revenues.
This technology offers hospitality organizations flexibility to personalize rate plans such as loyalty, advance purchase or other packages to enhance the guest shopping experience. Agile rates empowers hoteliers to affect pricing strategy through multiple dimensions of demand, guest behavior and product attributes to build the most relevant and unique price and product for the guest.