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New data from a recent IDeaS survey reveals that 63 percent of respondents indicated that an increase in revenue for 2011 would most likely be driven by rates, versus occupancy. Also, 58 percent of respondents said that their hotels are experiencing declining ancillary revenue.
IDeaS Revenue Optimization, a provider of revenue management software, services and consulting, released results from a survey of hospitality industry revenue management professionals conducted at its IDeaS Client Summit, held at the Jumeriah Essex House Hotel in New York, NY. Revenue management professionals from the world’s top hotel brands attended the event, which spanned two days and was designed to bring IDeaS clients together to share best practices and enhance their use of the IDeaS V5i On-Demand Revenue Management solution.
To achieve a deeper understanding of the organizational culture surrounding its clients, IDeaS polled attendees regarding their role as revenue managers and their opinions surrounding key industry, economic and social media issues.
“Regardless of where our clients find themselves in their revenue management lifecycle, our goal is to drive better revenue,” said Linda Hatfield, vice president of product management, IDeaS. “As the economic environment continues to present unexpected challenges, it’s not just about technology anymore. We’re proud to address every unique challenge from a software, service and consulting perspective.”
- More than 90 revenue management professionals were surveyed throughout the 2-day event. Key
survey findings include: - 63 percent of respondents indicated that an increase in revenue would most likely be driven by rates, versus occupancy
- Most of the respondents, 87 percent, said that their hotel or brand was active on social networking sites. Of that group, more than 60 percent are on 2-3 sites, with Facebook and Twitter being the top sites.
- 7 percent of respondents believe managing the social network and resulting data is a marketing function over revenue management or sales.
- 58 percent of respondents revealed that their hotels are experiencing declining ancillary revenue
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
