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The Claridges Hotel New Delhi has
partnered IDeaS Revenue Solutions to better manage its yield
management strategies to maximize revenue and enhance its overall
approach to pricing.
The 140-room Claridges New Delhi is the
flagship hotel of The Claridges Hotels & Resorts group, and is
located in the center of the city in close proximity to the
business district, shopping and cultural centers and historical
landmarks.
“Revenue yield management was not something
practiced with great discipline in the past at The Claridges New
Delhi,” said Markus Schneider, General Manager, The Claridges. “We
realized that to maximize our bottom line and stay ahead of
competing hotels we needed to implement advanced strategies and
technology to improve our yield management. Our hotel runs above
95% occupancy for at least 150 days of the year and being able to
maximize revenue from guests during periods of peak demand is
critical to our ongoing success.”
In working with IDeaS,
The Claridges New Delhi has turned to IDeaS Hospitality Consulting
services - and specifically their Virtual Revenue Management
service - to build a revenue culture within the hotel from the
ground up. This involves having an IDeaS Hospitality Consulting
revenue management specialist working with the hotel to educate
staff on best practice strategies, and deploying advanced pricing
technologies like the IDeaS Revenue Management System (RMS).
“New Delhi is a competitive market for any hotel and for a
property to be successful, it is vital that they maximize revenues
from all guests,” said Sivaprasad Gangadharan, Regional Director
Subcontinent Sales for IDeaS. “Through working with IDeaS, The
Claridges New Delhi will have on hand a dedicated revenue
specialist who is an expert in pricing, revenue management,
distribution and asset management. Through decades of experience
and instituting best practice hospitality strategies around the
world, the hospitality consultant will be central to driving major
pricing decisions and educating the staff to build a revenue
management culture. The technology being deployed will also ensure
The Claridges New Delhi will be able to make strategic decisions
with a clear view of their competitors’ positions and determine
correct pricing for their property’s rooms and group bookings.”
Importantly, the IDeaS RMS’ Best Available Rate (BAR)
technology will allow The Claridges New Delhi to accurately quote
the optimal rate for its hotel rooms to potential guests in the
future.
“Although we have only just started
working with IDeaS, we can already see improvements in our
approach to revenue management. Being able to make pricing
decisions based on facts rather than educated guesses provides
reassurance and will benefit our business,” added Markus Schneider. “The key for us is that IDeaS
delivers a clear way for The Claridges New Delhi to assess the
hotel’s performance, accurately forecast occupancy and business
demand, and determine the correct pricing for hotel rooms.”
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