IDeaS unveils hotel industry’s total revenue forecasting and planning tool

IDeaS Revenue Solutions, provider of revenue management software and services, unveiled IDeaS RevPlan, a cloud-based module built to complement its flagship Risk Management Solutions (RMS) products.

The module is designed to take the pain out of budgeting and forecasting a hotel’s total business, including food and beverage outlets. Until now, hotels have relied on manual forecasting and data collection to plan operations for their total business. This error-prone, time-consuming process leads to inefficient labour costs, siloed decision-making and smaller profits.

Utilising advanced revenue science, RevPlan enables revenue managers, finance directors and hotel leaders to effectively budget, plan and strategise using automation and scientific forecasting. “Hoteliers face many challenges when it comes to the planning and budgeting of their total business. Essential data is spread out and isolated, the manual process is prone to errors and non-rooms revenue is left on the sidelines. That’s why we developed RevPlan, a budgeting and planning solution built for and by hoteliers,” said Sanjay Nagalia, co-founder and chief operating officer in IDeaS.

It consolidates hotel data at the enterprise level to easily drive more strategic decision-making by revenue stream, region or brand. The solution will also help boost hotel operational efficiencies with automated data collection and intelligence.