NB: This is an article from TravelClick
TravelClick, a global provider of data-driven solutions that enable hotels to maximize their revenue, and IDeaS, the leading provider of revenue management software solutions and advisory services, today announced that TravelClick’s Demand360® customers are now able to integrate their subscription data into IDeaS systems to allow forward-looking data that power revenue management strategies. This marks the most advanced hotel analytics and demand intelligence integration currently available in the market.
Initially announced as a joint research and development project in 2015, the initiative represents the latest innovation for long-time partners, TravelClick and IDeaS. The integration combines the competitive market intelligence of TravelClick’s Demand360 with the world’s most advanced automated revenue management solutions to provide hoteliers with a deeper understanding of a property’s market position and business potential. The research and development project demonstrated that the insertion of demand intelligence data notably improved the demand forecast and uplift for hotels.
“Market intelligence is the logical next step in the evolution of advanced revenue management. Incorporating future demand and market penetration data is essential to building a superior revenue strategy,” said Lisa Rauchenberger, director of revenue management systems and tools, Four Seasons Hotels & Resorts. “It is a very exciting and innovative time for revenue management professionals, knowing these advanced analytics will be provided to hotels via an automated solution. The more informed the demand model is, the better the optimization of pricing and inventory for hotels.”
Demand360 is the only competitive market intelligence product available to the hospitality industry that provides forward-looking reservation metrics and competitive share by segment and channel. Integrated with IDeaS’ industry-leading automated revenue management capabilities, customers who subscribe to both IDeaS’ advanced revenue management systems and Demand360 will be empowered by an even more robust demand forecast. By leveraging future booking data, hoteliers will be equipped to better anticipate – and take strategic action via their IDeaS solution – to changes in their competitive environments and markets.
“Demand360’s future occupancy and revenue metrics drive RevPAR strategies for brands, groups and independents around the globe,” said Greg Sheppard, senior vice president, business intelligence products at TravelClick. “With a community of more than 22,000 properties that contribute future and historical data, Demand360 gives customers a comprehensive view of the competitiveness in their market. Now, by integrating the power of Demand360 data directly into IDeaS solutions, our mutual customers will be able to further leverage this data with enhanced forecasting algorithms to optimize their competitive position like never before.”
“As the leader in revenue management in a constantly evolving industry, we are continually seeking innovative ways to provide customers with tools that enhance their revenue strategy, and demand intelligence like TravelClick Demand360 does just that,” said Sanjay Nagalia, chief operating officer for IDeaS. “We are proud that our longstanding partnership with TravelClick has led to the development of this integration, which not only identifies the revenue opportunities, but automatically implements and capitalizes on them – regardless of property size or market position.”
Both TravelClick and IDeaS place great value on the confidentiality and security of their customers’ data. The new integrated solution will ensure strict data use requirements are met at all times. Subscribers will continue to only have access to data for the subscriber hotel and an aggregate view of their competitive set.