Breaking Down Hotel Revenue Management and Strategy
In the latest episode of Conducting Conversations, Warren Dehan, President of Maestro PMS, and Craig Shoffit, Area Manager for IDeaS, came together to discuss the significance of revenue management and strategy in the hospitality industry.
Their partnership has proven to be a game-changer for independent hotels, as they explored how the integration of Maestro PMS and IDeaS addresses key needs and maximizes revenues for hotels and resorts.
Maestro PMS and IDeaS have been working together for over a decade, developing an interface to integrate revenue management solutions with the Property Management System (PMS). This long-standing collaboration thrives due to shared values, excellent teamwork, and a mutual commitment to customer satisfaction. In 2019, a two-way interface was introduced, further solidifying their partnership.
The integration of Maestro PMS with IDeaS’ automated decision solutions has brought significant benefits to various property types, including hotels, resorts, condo rentals, and conference centers with group-oriented rate requirements. This flexible solution caters to diverse customer bases, ensuring that revenue management needs are met across the board.
Customers consistently report improved efficiency as one of the integration’s main advantages. By automating rate decisions based on real-time data from IDeaS’ revenue management system, staff members save time while achieving increased revenue, improved occupancy rates, and better average daily rates (ADR). The integration empowers hotels to make data-driven decisions that drive their success.
Implementing this technology requires careful planning, coordination between the teams at Maestro and IDeaS, and ensuring accurate data integration. However, thanks to the strong working relationship between the two companies, clients can expect a seamless process that minimizes disruptions to their operations. The collaboration aims to make revenue management processes simple and effective for hotels of all sizes.
By embracing this integration, independent hotels can unlock their full revenue potential while delivering exceptional experiences to their guests. The collaboration between Maestro PMS and Ideas signifies a major milestone in the evolution of revenue management within the hospitality industry.