Headquartered in Minneapolis, MN, IDeaS enables global organizations such as hotel, travel and transportation companies to understand, anticipate and react to consumer behavior in order to optimize revenue and profits. The company’s key product offerings include IDeaS Revenue Management System, IDeaS Pricing System and IDeaS Forecasting Management System.
IDeaS’ flagship solution, IDeaS Revenue Management System (RMS), empowers hoteliers with the decisions they need, when they need it, allowing them to price and forecast appropriately. Integrated with powerful analytics and a wide array of easy-to-navigate charts and reports, users are able to gain a holistic view of their properties and leverage that information to create pricing strategies and measure total performance.
Among the many success stories linked to IDeaS’ solutions is that of Loews Hotels and Resorts, a luxury brand of estates across the U.S. and Canada, that stands out. With ambitious growth plans, Loews partnered with IDeaS to automate revenue management and streamline processes, ultimately optimizing rates. Hotel operators needed a way to make smarter, more strategic revenue decisions. Following the deployment of IDeaS Revenue Management System, IDeaS RMS has yielded substantial return on investment: Revenue per available room (RevPAR) increased by 15 percent and the Average Daily Rate (ADR) increased by nearly 20 percent, for hotels such as the Loews Coronado Bay Resort.
IDeaS’ unique ability to understand the relationship between price and demand, as well as its capability to provide decision enabling systems with state-of-the-art analytics, are the biggest factors that set the company apart from the rest. “Our solutions have evolved both in terms of the need of the hotel and their perception of what they need to do differently marching forward. We also educate them on the limitations imposed by their current systems and advise them to talk to the providers of those systems to introduce changes that can take them to the nirvana of price optimization and revenue management,” adds Mehrotra.