IDeaS Revenue Solutions, the leading provider of revenue management software solutions and advisory services, announced today that it has partnered with the iconic Berjaya Times Square Hotel to implement IDeaS Revenue Management System (RMS) across 650 rooms to improve demand forecasting and revenue performance.
With a highly competitive hotel environment across Malaysia and the APAC region—according to STR Global, 2,400 hotels are under contract to open across the region in the coming years—Berjaya Hotels & Resorts sought to improve accuracy in their demand forecasting and revenue management strategies. To maximise revenue in its rapidly changing industry, Berjaya Times Square Hotel will utilise IDeaS RMS to better understand its booking patterns, adjust prices to adapt to shorter booking windows and streamline the revenue management process – allowing revenue managers to spend more time analysing opportunities and developing revenue strategies rather than manually manipulating spreadsheets.
“We have a growing portfolio of properties and great ambitions for our developments in Asia Pacific. By adopting the state-of-the-art IDeaS RMS in our Berjaya Times Square Hotel, we will improve our market position, maximise revenues and build a platform for a sustainable revenue culture across our hotel,” said Jessica Tham, Corporate Director, Revenue Management at Berjaya Hotels & Resorts. “We are excited to see results at Berjaya Times Square Hotel and intend to roll out IDeaS RMS across our other properties.”
With IDeaS RMS, Berjaya Times Square Hotel will also gain the ability to make strategic decisions with a clear view of their competitors’ positions and determine correct pricing for their rooms and ancillary services.
“Revenue management is a strategic journey, and in a burgeoning and competitive market like Malaysia, it is essential for leading hotels like the Berjaya Times Square to have clear insight into their properties’ booking patterns in order to be able to optimise their revenues and performance,”said Rachel Grier, APAC managing director for IDeaS. “We’re proud to extend IDeaS RMS to Berjaya Times Square Hotel and look forward to driving revenues and profitability for this prestigeous hotel.”
Berjaya Times Square Hotel is centrally located in Kuala Lumpur city, adjacent to Berjaya Times Square Shopping Mall. The five-star hotel features 650 luxuriously decorated rooms ranging from studios to master suites. It is a member of the Berjaya Corporation Group of Companies, which manages hotel properties ranging from the exotic island resorts of Tioman and Langkawi to the city hotels of Kuala Lumpur and Johor Bahru. The group additionally manages a range of international hotels and resorts in Philippines, Seychelles, Sri Lanka and London.