Hotel ICON Turns to IDeaS for Best-Practice Revenue Management Capabilities

[PRESS RELEASE]

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Hotel ICON

MINNEAPOLIS – May 10, 2018 – IDeaS Revenue Solutions, the leading provider of revenue management software and advisory services, announced today their reformed relationship as the revenue management technology provider of choice for Hong Kong’s upscale and award-winning Hotel ICON.

Located in bustling Tsim Sha Tsui, with 262 sophisticated guest rooms and exceptional harbor views, Hotel ICON is a modern, elegant property with a commitment to delivering unrivalled comfort and a wide range of dining choices for both leisure and business guests. Seeking total revenue performance and extraordinary revenue impact, Hotel ICON determined that deploying IDeaS’ advanced analytics and sophisticated revenue management system (RMS) was critical to their growth.

“Hotel ICON operates at very high occupancies, which means there is little margin for pricing error. After carefully assessing all available systems, it was clear that automation, accurate forecasting capabilities and a credible, innovation-led roadmap were must-haves for us to fully optimize our hotel’s performance,” said Richard Hatter, general manager Hotel ICON & adjunct associate professor at the School of Hotel and Tourism Management Hotel ICON & The Hong Kong Polytechnic University. “We chose to partner with IDeaS because their G3 RMS provides the best breed of revenue management technology. We had used a different IDeaS product previously, as well as another revenue management system, and we are confident that G3’s unique ability to assist with room-type management and yielding, along with IDeaS’ solution for meeting space revenue management, will drive the best possible revenue and profitability.”

Hotel ICON will adopt the industry leading IDeaS G3 RMS along with Smart Space by IDeaS, the world’s leading visual strategy management solution for meeting and event space. By implementing IDeaS G3 RMS and Smart Space by IDeaS, Hotel ICON will be able to make strategic revenue and inventory management decisions across their business as never before. Hotel ICON will be the first hotel to adopt Smart Space in Hong Kong and Greater China.

“IDeaS is very pleased to work with Hotel ICON again. Through its adoption of IDeaS G3 RMS, Hotel ICON will achieve optimal RevPAR performance through rate increases and by selling the higher room categories at suitable market prices. This will help minimize overbooking entry-level rooms and forced upgrades, a key area of opportunity many hoteliers are challenged by in the Hong Kong market, and which can only be addressed by IDeaS’ sophisticated, predictive analytics and machine learning,” said Rachel Grier, Asia-Pacific managing director, IDeaS.

Hotel ICON incorporates training staff from the School of Hotel and Tourism Management of The Hong Kong Polytechnic University, a partnership which allows the next generation of hospitality leaders to gain real-world hotel experience. IDeaS will supply Academic Program Support to Hong Kong Polytechnic, providing a practical learning platform for future revenue leaders in the region.

About Hotel ICON

Unlike any other, Hotel ICON is an upscale Hong Kong hotel in the heart of Tsim Sha Tsui East. Standing as a testament to Hong Kong’s creative energy and vibrant arts scene, Hotel ICON showcases work from the city’s celebrated designers and the world’s most acclaimed architects. Offering the ultimate in comfort and committed to service excellence, Hotel ICON’s 262 stylish guestrooms comprise seductive extras, including complimentary wired and Wi-Fi internet connections, smartphone with unlimited mobile data and an ultra-slim 40” Ultra High Definition LED TV. Located on level 9, Hotel ICON’s Angsana Spa is a tranquil oasis while the harbour-facing outdoor swimming pool and fitness centre allow guests to exercise while enjoying views of Hong Kong Island’s spectacular skyline.

With a maximum capacity of 580 persons, Hotel ICON’s grand Silverbox ballroom is the ideal venue for a celebration or theatre-style conference. Hotel ICON houses three restaurants: Above & Beyond, The Market and GREEN, providing guests with exceptional quality of the food and impeccable service. wallpaper* magazine included Hotel ICON in its 2011 list of the world’s Best Business Hotels and DestinAsian included the hotel in its Luxe List 2011. The premier hotel has also won in 2 categories including the Top 25 Hotels in Asia in the 2017 TripAdvisor Traveler’s Choice Awards.

For more information on Hotel ICON, please visit www.hotel-icon.com. Join us by following our official social media accounts at @hoteliconhk and share your memorable moments with us by using the hashtag #hoteliconhk.

About IDeaS

With more than 1.6 million rooms priced daily on its advanced systems, IDeaS Revenue Solutions leads the industry with the latest revenue management software and advisory services. Powered by SAS® and with nearly three decades of experience, IDeaS proudly supports more than 10,000 clients in 124 countries and is relentless about providing hoteliers with insightful ways to manage the data behind hotel pricing.

IDeaS empowers clients to build and maintain revenue management cultures—from single entities to world-renowned estates—by focusing on a simple promise: Driving Better Revenue.

IDeaS has the knowledge, expertise and maturity to build upon proven revenue management principles with next-generation analytics for more user-friendly, insightful and profitable revenue opportunities—not just for rooms, but across the entire hotel enterprise. For more information, visit www.ideas.com.

80 DAYS Benchmark
80 DAYS Benchmark
Sam Weston
Sam Weston is an experienced digital marketing professional who has worked both client and agency side with a focus on the hospitality industry. Currently, he is Marketing Manager for a full service creative and digital marketing agency, 80 DAYS, based in Edinburgh, Scotland. Any views expressed on this site are his own.