New revenue management solution will help Historic Hotels of America property easily manage pricing and forecasting
MINNEAPOLIS--(BUSINESS WIRE)-- IDeaS Revenue Solutions, the leading provider of pricing and revenue management software, services and consulting to the hospitality industry, today announced the general availability of the new IDeaS Pricing System™, an affordable and intuitive revenue management solution for hoteliers with limited resources. Cornerstone Hospitality, LLC will be the first organization—outside of IDeaS’ trusted pilot partners—to implement the new solution at the Craddock Terry Hotel located in Lynchburg, Va. Management staff at the hotel, a member of Preferred Hotel Group’s Historic Hotels of America, will use the automated system to maximize profitability across the boutique, 44-room property.
“We are very excited to implement an automated revenue management solution that will allow us to remain competitive against global brands with deeper resources,” said Kimberly Christner, President and CEO of Cornerstone Hospitality. “Serving as another arm or virtual revenue management employee, the system’s advanced analytics streamlines our forecasting, rate distribution and reporting processes, saving our hotel director, Todd Swindell, a significant amount of time and energy.”
Located in downtown Lynchburg near four colleges, the Craddock Terry Hotel frequently operates at or above 94 percent occupancy. To drive better profitability, Swindell and Christner will use IDeaS Pricing System to forecast demand and make more informed rate decisions for the hotel, which is currently exploring plans to expand.
“We created IDeaS Pricing System in response to the need for a sophisticated, yet affordable automated revenue solution for busy management staff,” said Brian Sterrett, Vice President of Global Sales and Marketing, IDeaS. “IDeaS is honored to welcome the Craddock Terry Hotel into our client family. Given its high occupancy numbers and growth goals, we are confident that the system will help to maximize revenue potential.”
Announced in March and unveiled at the IDeaS Global Leadership Summit in May, IDeaS Pricing System is an intuitive and affordable automated revenue solution for hotels and groups seeking revenue growth but with limited revenue management staff. The system enables users to more accurately forecast occupancy, quickly set daily room rates, and make more competitive pricing decisions for their hotels. In just a single click, users can also upload pricing decisions to all necessary distribution channels.
For more information about IDeaS, please visit www.ideas.com.
About Cornerstone Hospitality, LLC
Founded April 2, 2012 in Williamsburg, Va., Cornerstone Hospitality is a full-service boutique hospitality firm focused on property management and development of select service brands and Life-Style hotels, as well as boutique, small resort and historic properties. Created with the owner in mind, Cornerstone Hospitality delivers personal attention, revenue maximization, sales and exceptional operation programs for properties. The firm’s principals, Kimberly Christner and Craig Larson, have a combined experience of nearly 50 years and a great reputation serving the hospitality community. For more information, visit www.cornerstonehospitality.com.
Founded in 1989, IDeaS Revenue Solutions - a SAS Company, offers industry-leading pricing and revenue management Software, Services, and Consulting to the hospitality and travel industries. Headquartered in Minneapolis, MN with a Global Technology center located in Pune, India, IDeaS maintains sales, support and distribution offices in North & South America, the United Kingdom, Europe, Middle East, Africa, Greater China, Australia and Asia. For more information, visit www.ideas.com.
Source: IDeaS Revenue Solutions