MeetingPackage and IDeaSRevenueSolutions announced a new and innovative partnership that will allow IDeaS Smart Space users to leverage best-in-class revenue management software to optimize the sale price of meetings and events space online through the MeetingPackage Distribution Network as well as through the venue’s own website using the booking engine solution from MeetingPackage.
The new integration will allow users of both platforms to push minimum revenue pricing and optimum delegate pricing into the MeetingPackage platform. This ensures the total package of services chosen by a booker meets the revenue requirements of the venue for the specific meeting space on the specific date or dates. IDeaS Smart Space uses bespoke analysis of a venue’s data to develop a demand forecast that categorizes each day as high, medium or low with rates set accordingly. The model is dynamic, so pricing can be de-optimized in function of demand patterns.
MeetingPackage is a technology provider that connects to venues’ meeting spaces and allows users to search, book and manage their off-site meetings and events more easily. Users can review detailed information about a venue’s availability, pricing and services before they make an enquiry or booking. The booking platform is user friendly which makes the process of organizing meetings easier. The booking process resembles popular hotel booking websites but is focused on meeting facilities and services – it can be tailored for the venue’s own website as well as for any demand driven partner through APIs or a White Label solution.
IDeaS Smart Space is a first-of-its-kind, cloud-based, visual strategy management solution that helps companies analyze the business trends and performance of meetings and events space within hotel and conference center venues.