Revenue management software provider IDeaS recently introduced a new AI-powered enhancement designed to give hoteliers deeper visibility into market performance and more precision in pricing decisions.
Building on the company’s analytics platform, Rate Data Advantage is designed to deliver granular insight into how individual properties perform within their competitive environments. The enhancement compares real-time activity across multiple products, room types and offerings, according to the Minneapolis, Minn.-based company.
“Hospitality providers are just now tapping into the revenue potential that’s available when operators have a comprehensive, evolving understanding of their place in their market,” Sanjay Nagalia, co-founder, COO and chief technology officer at IDeaS, said in a statement. “With the right data, hotels can strategize ways to drive the performance of individual room types on property and compete in more specialized arenas within hospitality.”
Paired with IDeaS’ forecasting capabilities, Rate Data Advantage is designed to enable hoteliers to analyze trends and opportunities at a more nuanced level than traditional data sets allow, according to the company. The enhancement also uses AI-powered automation to manage complex rate and room-type matching.
With its expanded data coverage and advanced analytics, IDeaS further noted that Rate Data Advantage is designed to help revenue teams act faster by illuminating emerging trends and isolating anomalies that may otherwise go undetected in more limited competitive sets.