The Belvedere Hotel Trusts IDeaS’ Advanced Technology to Optimize Revenue Strategy, Increase ADR
Step into the 1920s at this art-deco styled, independent property in New York City – The Belvedere Hotel. This non-traditional boutique hotel, accommodating an impressive 355 guestrooms, is within a block and a half of Times Square, yet offers guests a quiet residential feel. The Belvedere sought to upgrade its revenue strategy solution in order to keep up with its fast-paced competitive market.
With a majority of double occupancy rooms, IDeaS G3 Revenue Management System (IDeaS G3 RMS), built on powerful SAS analytics, allows The Belvedere Hotel to manage rates more effectively by room type, a need their previous technology couldn’t accomplish.
“We were pleasantly surprised with how the system quickly reacts to demand by room type, driving the price and getting the bookings with IDeaS’ automated decisions. We’re now able to respond to that demand with a solution that gives us confidence in its pricing and inventory controls,” explained Michael Link, general manager of The Belvedere.
Using continuous pricing – one of the flexible pricing options offered by IDeaS’ Ideal Pricing – The Belvedere Hotel has experienced a notable increase in ADR since implementation. Continuous pricing, together with IDeaS’ powerful overbooking and Last Room Value controls, provides an analytical, ongoing optimization of business that drives optimal revenue. With this property in close proximity to high-demand attractions like Times Square, the ability to account for special events – whereby the system automatically adapts to the demand and produces rates accordingly – The Belvedere Hotel has experienced significant improvements in key performance indicators.
The Belvedere Hotel is leveraging IDeaS G3 RMS’ powerful group displacement feature, which is an important part of the hotel’s overall revenue strategy.
“Our hotel is getting better direction on quoting group prices with the group pricing tool from IDeaS. The system is helping us better understand the pricing strategy and has already boosted our numbers in group sales,” said Link. “We are already seeing rate increases over last year, and we really owe that success to IDeaS. When you’re able to trust the system and let it run its course, we have been amazed with the successful decisions. We have trust and confidence with IDeaS’ technology and believe we are going to see a lot more success throughout this partnership.”