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The coronavirus pandemic prompted many hotel companies to smarten up how they set their room rates a practice called revenue management. Several hotels turned to software to help with this, and one company that benefited from the trend is IDeaS, the Minnesota-based unit of analytics firm SAS.
A case in point is Scandic Hotels Group. Scandic CEO Jens Mathiesen last week told analysts that hotel groups have become better at setting room rates.
“I’m old enough to have been part of many crises before, and if you look back to the financial downturn we had in ’08, ’09, and even in [2000] crisis we had before that, that market has changed quite a lot,” Mathiesen said during an earnings call. “Today, all hotel chains do work with revenue management. We have a lot of support from international systems like IDeaS, et cetera, which we all use.”
IDeaS, a SAS company, the world s leading provider of revenue management software and services, announced today IDeaS OptixTM, a cloud-based advanced reporting and analysis module for IDeaS G3 Revenue Management System (RMS).