IDeaS Revenue Solutions is pleased to announce that Electra Hotels and Resorts, one of the most influential players in Greek tourism, has chosen IDeaS G3 Revenue Management System (RMS) following a lengthy review process to optimise revenue performance across its 616-room property.
A buoyant market delivers new challenges – With the Greek economy bouncing back, a projected rise in overseas tourism has been matched by the emergence of a significant number of new hotels. Now that the market has turned a corner, an efficient and automated revenue management system was identified as an essential tool to deal with increasing competition.
Replacing manual forecasting to improve ADR – Traditionally, Electra worked closely with tour operators, corporate businesses and conference-and-event organisers. Analysis determined this strategy was “leaving money on the table” because individual traveler bookings result in stronger rates and occupancies. A decision was made in 2016 to prioritise revenue management to improve ADR and profits; however, its time-consuming manual forecasting system limited its ability to increase revenue.
Forecasts based on up-to-date market intelligence – Given the dynamic and fluid nature of the market, especially in Athens, the Electra management team identified access to up-to-date market intelligence as a key priority. By selecting IDeaS G3 RMS, which takes into account online supply from both competitors and OTAs when making forecasts, the organisation gained the insight needed to enhance profitability.
“We undertook a thorough examination of all offerings on the market and are confident IDeaS G3 RMS will deliver what we want. Just as important to us is that we’re partnering with knowledgeable experts—a company that will not only supply a solution but also has the know-how to help us build a dynamic revenue management strategy from scratch and support us with advice and guidance when needed.”Konstantinos Zdralis, director of sales, Electra Hotels
“We’re happy to welcome Electra Hotels and Resorts into the IDeaS family and look forward to working with them. With the Greek economy rebounding, the decision to become the first local hotel group to implement IDeaS G3 RMS will deliver a leading advantage over their competitors.”Fabian Specht, EMEA managing director, IDeaS.
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