IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, has announced
that Garden Hotel Suzhou has deployed IDeaS’ Revenue Management System (RMS) with significant success, increasing RevPAR over the period January to May 2023 by more than 30 percent of pre-COVID levels. As part of the initial phase of the project, IDeaS Consulting worked with relevant hotel staff to build a revenue culture within the hotel. The team also provided in-person guidance and training, including establishing a revenue management roadmap highlighting challenges and opportunities, developing internal processes and procedures, and creating monitoring tools to benchmark revenue performance.
Before working with IDeaS, Garden Hotel Suzhou’s approach to revenue management relied on basic processes. BAR Rates were determined by staff experience and were adjusted by using offsets. Additionally, the hotel both collected its previous year’s data and tracked its competitor’s pricing manually. This approach was prone to errors, time-consuming, and could not accurately predict market demand and competitor pricing patterns, resulting in substandard revenue results.
Management of Garden Hotel Suzhou looked to IDeaS to improve its revenue, sales, and marketing structures through an advanced RMS, allowing the hotel to make proactive pricing decisions based on accurate market data and maximise its revenue and profit potential. With IDeaS RMS, Garden Hotel Suzhou gained the ability to make strategic decisions with a clear view of its competitors’ positions and determine the optimal pricing for their rooms and ancillary services.
Fan Rong, general manager of Suzhou Garden Hotel, said: “Suzhou’s tourism market recovered rapidly after the pandemic with international sports and cultural events attracting new guests. Hotel sector competition is strong in the city, we managed to stay ahead as a business leader, thanks to IDeaS RMS to digitalize our approach to revenue management and hotel pricing with accurate data, allow us planning for adaptive and sustainable recovery, upcoming marketing strategies and stay ahead of competition and driving demand.
“IDeaS RMS attracted us because the system outputs are based on real-time market demand and competition, meaning that the optimal room rate can be automatically determined, increasing hotel revenue and reducing risks. The system also provides industry benchmarking data that helps us better understand the market and competition. The RMS’s unconstrained demand and revenue forecasting functionalities also help us to develop accurate budgets and better understand future business levels. At the same time, the professional and attentive mentor service of the IDeaS consulting team is another reason why we choose to work with IDeaS.”
Jurgen Ortelee, managing director of APAC, IDeaS, said: “IDeaS is excited to be working with Garden Hotel Suzhou. Our holistic approach to revenue management combining our RMS core technology and professional consulting services is helping build a sustainable revenue culture within Garden Hotel Suzhou that will see the hotel reach its full revenue potential. IDeaS RMS leverages sophisticated forecasting analytics and reporting tools to analyse data, enabling the hotel to make strategic decisions across their business, driving improved financial performance.”
