Radisson Hotel Group Drives Revenue Management Innovation
As travel returns to pre-pandemic levels in many EMEA markets, Radisson Hotel Group has launched new strategic revenue targets to capitalize on the increase in demand and adapt to consumers’ new booking patterns in the post-pandemic period. The Group’s revenue optimization initiatives, first introduced as part of the strategic plan in 2017 and accelerated during the pandemic, place Radisson Hotel Group in a prime position to leverage technological innovation and respond to market conditions.
This year’s revenue management conference in Gran Canaria, was the first post-pandemic opportunity for the revenue teams and 10+ key partners to talk about the future of revenue management. Radisson Hotel Group announced its latest innovations, from new developments to EMMA, the Group’s exclusive unified technology platform that serves all core functions, to incorporate all hotels in the portfolio within one unified Revenue Management System, to automated total revenue forecasting, as well as the introduction of dynamic pricing for Food and Beverage. At the conference, one of the main partners, Expedia Group, noted, “If the traveler wins, we all win,” highlighting the importance of these initiatives combined with key distribution partnerships to ensure the delivery of exceptional guest experiences.
Enabled by unique technology, EMMA is at the core of the Group’s revenue management innovation and ensures that all aspects of the Group’s core business are integrated into a single global platform. EMMA forms the basis for future growth by combining 360-degree customer experiences, enhanced guest recognition, and personalized service on-property. This platform delivers one single ecosystem and collates modern technology that is open to partner connectivity in a cost-efficient manner.
Radisson Hotel Group established new ambitious KPI targets and implemented RevPlan by IDeaS, an automated forecasting system for all revenue streams. Currently live in 168+ hotels and planned for a total of 200+ hotels by the end of 2022, RevPlan delivers powerful analytical insights to increase performance, productivity, and forecast accuracy, by reducing the time spent on manual data gathering from various systems and avoiding errors caused by manual data entry and calculations.
The Group’s revenue management and forecasting experts also use Pulse, a custom business intelligence tool, to give needed insight to manage the Group’s business with one cohesive, powerful, cloud-based tool. Launched in 2019, Pulse combines data from the Property Management System, Financial Reporting Systems, and external sources to allow the revenue management team to monitor performance with just a few clicks and provide powerful insight for strategic decision making.
This summer, Radisson Hotel Group is expanding its partnership with Oaky to deliver unique guest experiences and upgrade opportunities. The Group is integrating Oaky’s hotel upselling software into EMMA to deliver smoother hotel operations and enhanced guest satisfaction with faster response times.
Gianni di Fede, Senior Vice President Revenue Management, BI & Distribution at Radisson Hotel Group, notes: “Radisson Hotel Group is known around the world for its best-in-class systems which maximize revenue across our hotels and deliver the best GOP in the industry. 2022 has been a real turning point in the travel and hospitality industry, as people look to make up for the past two years. Over the last year, we have developed new partnerships and technological innovations to deliver unparalleled results. We are excited for the rest of the year and look forward to launching these initiatives across our portfolio, supported by our expansion of The Club by Radisson Hotel Group”.
The Club by Radisson Hotel Group is an international revenue community of more than 25 nationalities. The Club operates in 30+ countries and delivers global expertise, local market knowledge, and revenue management services to 183+ hotels across Radisson Hotel Group. More than just a revenue management solution, The Club offers successful models for owners and partners to deliver results and uncover new business opportunities for hotels.