IDeaS Revenue Solutions, a provider of automated revenue management software and services, has introduced Profit Optimization for G3 Revenue Management System.
Profit Optimization 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 metrics such as profit per available room.
This helps hoteliers :
- Gain a holistic view of profit: IDeaS’ flexible profit optimization engine uses any combination of ancillary revenues, margins, costs to acquire, and servicing costs to provide adjusted decision data. This can result in the property management system or central reservation system yielding the value of reservations to account for profit.
- Forecast the most profitable business: Using Profit Optimization 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 and casino gaming.
- Optimize all guest bookings: G3 RMS uses a unique and proven approach that automatically produces a combination of decisions. Working together, these decisions maximize overall profit rather than prioritizing revenue per available room.