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IDEAS HAS LAUNCHED the G3 RMS Portfolio Navigator for automating multi-property revenue management. The tool analyzes business and market trends to identify revenue opportunities and necessary actions, while streamlining strategy decisions for individual properties and enabling swift responses to market changes for optimal revenue generation, IDeaS said in a statement. "IDeaS is committed to ensuring our customers, regardless of size, have the tools they need to become more efficient and productive," said Sanjay Nagalia, IDeaS' cofounder, COO and chief technology officer. "The addition of Portfolio Navigator to our flagship product, G3 RMS, is a game changer for multi-property revenue management. It helps teams highlight suboptimal business or system conditions by property, prioritize tasks with the highest revenue impact, display outstanding revenue tasks by individual property and scale revenue operations and brand contribution. This functionality helps revenue management leaders turn insights into impactful commercial actions at scale."

WHEN IT COMES to growing hotel revenue, size does not matter. Economy hotels and micro-inventory properties are experiencing one of the biggest booms in recent years, thanks partly to a massive resurgence in small group travel, changing economic trends, and the staying power of global "return to travel". CBRE noted economy and midscale hotels recovered to 2019 performance levels by 2021, and properties with fewer rooms may benefit from lower operating costs when compared to their big-box brethren-though they also tend to have fewer resources with which to hire revenue professionals. Revenue managers are driving the charge for better operating returns. Many are taking the lessons they learned from their success at larger hotels and applying these truths to the industry's smaller properties. These revenue managers leverage new technology and strategies, options that small hotels with smaller, cross-functional staff haven't fully embraced. However, competition among economy hotels and properties tends to be fierce, requiring new action, especially with recent economic pressures and a downward 2023 RevPAR forecast of 0.2 percent in recent data shared by Tourism Economics . Modern revenue management practices and technology can provide these hotels with many benefits and significant competitive advantages. Small hotels need to avoid the erratic rate shifts of the past and capitalize on new trends as they emerge. By embracing strong revenue management systems and discipline in these properties, operators can realize greater control over a typically inconsistent space. Room Enough for Revenue The most common misconception about revenue management's place in hospitality is that it is the domain of large or full-service hotels. This is simply not the case today. No two hotels are the same, in practice, with key differences always existing between the layout of a property, its location, third-party partnerships, and so on. Every hotel has different r

SOFTWARE PLATFORM SITEMINDER, led by CEO Sankar Narayan, has partnered with PMS software developer Cloudbeds to provide more service to its 60,000 hotelier clients. The collaboration allows Cloudbeds clients direct access to SiteMinder's revenue platform, while SiteMinder users can leverage Cloudbeds' PMS platform. "In late 2023, we announced our mission of making sophisticated revenue management accessible to every hotel in the world," said Narayan. "We are excited to partner with an industry leader like Cloudbeds to propel this mission, by removing the friction that comes with having critical data hidden away in isolated systems. This partnership is a testament to the $50 billion hotel revenue that is processed by SiteMinder's platform each year as well as the unique position that we hold to completely transform revenue management for the global hotel industry. It continues SiteMinder's long history of breaking down silos in a highly-fragmented industry."

IDeaS, A SAS company, has expanded its client learning tools, incorporating live chat support, monthly live learning events, quarterly panels, and on-demand virtual training sessions. The company refined learning pathways tailored to specific client roles such as revenue manager, sales manager, or general manager, IDeaS said in a statement. The company also developed a calendar of live learning events for users to explore new features and discuss system optimization with IDeaS. "Providing a best-in-class client experience is one of the key drivers for our global teams," said Sanjay Nagalia, IDeaS co-founder, COO and technology officer. "Effective implementation, training, and system adoption are crucial for our clients' day-to-day work and ensuring they gain the most ROI from our solutions. To do so requires an ongoing learning journey." To ensure timely client assistance, IDeaS now provides live chat support led by its team of professionals, the company said. These on-demand activities promote organization-wide understanding of system capabilities and internal alignment with revenue management culture.

TOCK, A RESERVATIONS and events platform for the hospitality industry, recently partnered with Curator Hotel & Resort Collection to enhance food and beverage operations and provide additional amenities to guests. The partnership will enable Curator member hotels and resorts to streamline operations, drive revenue and improve guests' experiences on a single system. "Tock provides a holistic solution that empowers our customers and we're thrilled to bring that to Curator's elite network of independent hotels and resorts," said Patrick Venn, Tock's head of hotels and enterprise. "This partnership aligns with our mission to empower hotels of all sizes with forward-thinking technology focused on revenue management. Together, we aim to help these properties not only in navigating today's competitive landscape, but also setting new standards in delivering extraordinary guest experiences." Tock's platform offers capabilities tailored for hotel operators, Tock said in a statement.

Hotels are a business and business is about are making money.That's why a major focus for the industry now is on the technology that improves revenue generation. One company aiming to meet that need in Bloomington-Minnesota based ideas founded by life-long friends and colleagues Ravi Mehrotra and Sanjay Nagalia.Using their background in artificial intelligence ,they have created a revenue management system, that has been deployed by 19000 hotel properties, including recently added Choice Hotels International with that company's launch of its ChoiceMax program. Ideas software offers clients the ability to make rate decisions based on multiple factors that are most human brains can fully calculate.The program puts all the relevant data together in a comprehensive manner.

ELECTRIC VEHICLE CHARGING stations are a growing fixture at hotels around the U.S. Now, EV charging hardware and software producer EVPassport has released a new cloud-based system that connects its users to the hotel's guest services platform. The EVPassport Hotel Cloud, a variation of the company's cloud platform designed specifically for the hospitality industry, offers several options beside a simple charge. Guests can use the platform to locate the hotel on all EV charging location maps and apps. It allows owners to set charging prices, manage access and get details on energy usage, earnings history and carbon offset. EVPassport Hotel Cloud's "scan and charge" QR code technology allows users to pay without needing fobs, apps or cards. Hotels get an extra revenue stream from the stations, which can be wrapped in the hotel's name, logo and colors.

FF&E PROVIDER HÄFELE and Like Magic, a guest experience platform, are producing a new multifunctional hotel room concept. The "Work and Sleep" concept allows hotel operators to transform rooms into offices, meeting spaces and other functional areas using digitally enabled furniture, fitting solutions and specialized software. Work and Sleep integrates a booking engine, guest platform, employee interface and monitoring tools into one central hub, streamlining hotel management, the companies said in a joint statement. It will combine Like Magic's guest and employee experience platform with Häfele's hardware systems, the statement said. The collaboration aims to introduce new revenue models by activating otherwise vacant rooms while reducing outfitting costs. "Our goal is to lead the way in hotel industry innovation with our forward-thinking concepts," said Gregor Riekena, Häfele's CEO. "We are currently testing these new ideas at the ibis Styles Hotel in Nagold, Germany, which serves as a valuable proving ground for our initiatives. This innovation not only allows us to gather essential insights and refine our concepts, but also demonstrates our commitment to pushing the boundaries of what modern hotels can offer. By continuously evolving and enhancing our solutions, we aim to set new standards for guest experience and operational efficiency."