IDeaS announced that Swire Hotels has selected its G3 Revenue Management System (RMS) to unify its group approach to revenue management across a portfolio of seven hotels globally.
Swire Hotels is a group of seven properties under two brands including The House Collective and EAST, with locations in Hong Kong, the Chinese Mainland, and the United States. As a group, Swire Hotels previously approached revenue management on an individual property level, which led to different vendors and systems being used across its portfolio. With the intention to drive more efficiency across the group, Swire Hotels sought to unify its revenue management process, with IDeaS presenting a best fit solution.
After a thorough investigation into the most advanced revenue management solutions on the market, Swire Hotels selected IDeaS G3 RMS to use across its portfolio of properties. G3 RMS will optimise revenue performance and provide a single version of data and analysis at a group level. Going forward, IDeaS will play an important role in Swire Hotels’ portfolio growth plans, providing strategic revenue management support at both the property and group levels.
“We are proud to have IDeaS as part of our distribution infrastructure. It will benefit us in our development plans building the confidence of potential hotel owners, knowing that we have the best-in-class revenue management solution in place. Our aim is to deploy IDeaS in future new hotels and let it be a core part of the daily business discussion and decisions towards achieving the goal of becoming a rate leader in each of our respective markets,” said Yvonne Yau, Director of Revenue and Distribution, Swire Hotels.
A key concern for all hoteliers today trying to grow group-level profits. IDeaS G3 RMS provides insight into the cost of acquiring business through a particular channel or OTA. This insight helps hoteliers assess the value of a channel over the long term, versus the costs of acquiring reservations through that channel.
The Investigator feature within G3 RMS will also enable Swire Hotels to better examine and understand the data points the system considers when setting prices. Investigator’s charts, tables, and descriptions quickly inform factors that influence prices and forecasts, providing clarity around (and confidence in) the key drivers behind pricing decisions and the demand forecast.
“In a competitive environment, operating with different revenue management systems across a small portfolio of properties - where each system could provide vastly different levels of data, sophistication, and support is not conducive to long-term success. IDeaS delivers in-depth insight into market dynamics to support Swire Hotel properties through pricing strategies and an advanced RMS that seamlessly integrates with all properties and their existing technology stacks,” said Sibylle Luger, Area Vice President of Account Management, EMEA & APAC.