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Hyatt Expands Revenue Management Capabilities with Dynamic Pricing

Hyatt has committed to a significant expansion of its revenue management capabilities using MaximRMS advanced technologies. Hyatt and MaximRMS have agreed to three major initiatives:

Customization of highly advanced market leading revenue management capabilities, featuring competitive price/demand market response and dynamic pricing for profit optimization.  
Immediate full deployment of the MaximRMS hospitality business intelligence system.
Long-term global licensing of MaximRMS patented advanced predictive analytic mathematical forecasting and optimization system.
As a key part of Hyatt’s strategy the company is making new investments in the MaximRMS advanced predictive analytic technology in order to increase the performance of Hyatt properties in the U.S., Canada, and the Caribbean. The goal is to improve revenue realization, speed response to competitive actions and changes in demand, increase decision making efficiency, and improve profitability across all brands.

The MaximRMS e.FLEX system has been in use by full-service Hyatt properties since 2007. In 2009 and 2010, Hyatt deployed a version of e.FLEX at its select service properties. In late 2011, Hyatt rolled out the latest Group Sales functions of the Maxim system to manage and price group room business at full-service Hyatt hotels. Currently, the market leading MaximRMS hospitality business intelligence system is being deployed throughout Hyatt properties.
DecisionHyatt is deploying the MaximRMS hospitality business intelligence (BI) system. This technology provides a comprehensive package for hotels and hotel chains to understand, manage, and profit from their various hotel properties. This hotel business intelligence system combines all the detailed hotel and competitive data available with advanced analytics to explain and evaluate past and future hotel performance, deliver recommended actions, and optimize decision-making.

Hyatt is also adopting and customizing advanced new features and capabilities in the very adaptable MaximRMS technology. The new capabilities span advanced mathematical forecasting and optimization methods, new predictive analytic tools, and group revenue management functions. The market leading capabilities and features are designed to contribute to better hotel performance, greater revenues, and less manual efforts by the users.

The system includes the advanced revenue management capability to:
Dynamically incorporate price elasticity from changing customer behaviors into the MaximRMS patented “state contingent” price sensitive optimization to produce profit maximizing pricing and optimal rate control.

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