IDeaS Revenue Solutions introduced IDeaS RevPlan, a cloud-based module built to complement its flagship RMS products. The module is designed to take the pain out of budgeting and forecasting a hotel’s total business, including food-and-beverage outlets.
Until now, hotels have relied on manual forecasting and data collection to plan operations for their total business. This error-prone, time-consuming process leads to inefficient labor costs, siloed decision-making and smaller profits. Expanding what’s possible with revenue science, RevPlan enables revenue managers, finance directors and hotel leaders to effectively budget, plan and strategize using automation and scientific forecasting.
Total profit optimization increases profitability of all revenue streams, from guestrooms to food and beverage, with scientific forecasting for more precise planning. Data-driven decisions consolidate hotel data at the enterprise level to easily drive more strategic decision-making by revenue stream, region or brand. Automated efficiency boosts operational efficiencies with automated data collection and intelligence.
“Hoteliers face many challenges when it comes to the planning and budgeting of their total business," IDeaS co-founder/COO Sanjay Nagalia said in a statement. "Essential data is spread out and isolated, the manual process is prone to errors and non-rooms revenue is left on the sidelines. That’s why we developed RevPlan, a budgeting and planning solution built for and by hoteliers.”