IDeaS, Inc., a leading provider of revenue management solutions announced that it is installing its new Contract Evaluation Solution in global hotel properties Europe and Asia.
IDeaS Contract Evaluation Solution is an automated tool that enables hotel management and sales teams to maximize revenue from long-term negotiated contracts. This revolutionary new solution automates the time-consuming and complicated process of evaluating contracts, providing a quick and easy way to accurately assess the impact of contracts and quote the most advantageous rates and terms.
According to Philip Schaetz, Revenue Manager - Germany, Hyatt International Hotels and Resorts, “It`s stunning! It`s a very new way of working with our clients; a totally new philosophy that for the first time allows us to take a scientific approach to the business challenge of contract negotiations.”
Contracts of different types can make up a significant portion of a business` revenue; therefore, the impact of making optimal decisions in contract negotiations can have a significant financial impact. IDeaS Contract Evaluation Solution assesses numerous variables and providing hotels with more flexibility when making decisions on contracts. According to Mr. Ruttley, “Hotels and chains worldwide must consider the displacement of other business, the types of rooms and access to the inventory being requested, the frequency of business and the overall impact of a particular business on their revenue management strategy.” Contract Evaluation for corporate contracts is the first module of four to be deployed. Future modules will address the specific needs of hotels to assess and negotiate contracts for aircrew, tour series and allotment business.
The e-yield Revenue Management Solution by IDeaS automates the decisions that accept the most profitable mix of business, selling hotel rooms at optimum prices. e-yield is a scaleable enterprise solution that is customized to meet the precise requirements of each individual property, its unique characteristics and business practices. It is designed to analyze the demand in the marketplace, match the most profitable demand to available inventory and manage room inventory by automating the decisions on what reservations to accept at what prices, by managing overbooking, availability and length of stay.