Industry leader IDeaS’ mobile and cloud-based solution prioritizes owner control and flexibility, combining industry-leading capabilities with performance-optimizing data and analytics
PARSIPPANY, NJ, June 28, 2022 /PRNewswire/ — Wyndham Hotels & Resorts, the world’s largest hotel franchise company with more than 8,900 hotels in more than 95 countries, today unveiled RevIQ, a next-generation revenue management system based on cloud-based and mobile-focused, designed to further help franchisees optimize their revenue strategies and grow market share.
Created in collaboration with IDeaS, an industry leader in hotel revenue management software, RevIQ is designed specifically for the needs of Wyndham franchisees and is designed to deliver top-level performance while maintaining control, flexibility and simplicity in the foreground. Leveraging real-time data and analytics to make automatic price recommendations and adjustments, the platform seamlessly integrates with Wyndham’s best-in-class property management systems and allows franchisees to optimize their strategies based on their own market intelligence, a key competitive differentiator.
“No one knows their business, their competition, or their market better than our franchisees,” said Vikram Pradhan, Group Vice President, Global Revenue Management, Wyndham Hotels & Resorts. “For these reasons, it was essential that we create a platform that, while powerful and robust in its data and analytics, also allows franchisees to integrate their own knowledge and insights. RevIQ does just that, making it makes a simple, intuitive, easy-to-use tool that is as beneficial for experienced hoteliers as it is for those running their very first hotel.”
“What I love about RevIQ is that it allows me to put my hotel’s revenue management strategy on autopilot, which frees up my time to focus on other parts of the business. company while helping me to always get the best possible return on every available room,” said Prativ Patelowner of the Super 8 by Wyndham in San Bruno, California. and member of the Super 8 by Wyndham Franchise Advisory Council. “This is a game-changer for Wyndham franchisees.”
Wyndham was the first major hotel company to introduce an automated revenue management system at scale in the economy and midscale segments, first deploying the system in its portfolio in 2015. RevIQ, the latest offering from the company, builds on this leadership position by offering intelligent revenue management. anytime, anywhere, and on any device capabilities, with core benefits broken down into three distinct categories:
Control – Hotel owners can create a custom pricing strategy based on market conditions and competition with full control over who they consider in their competitive set and the ability to change if necessary. Competitors are automatically bought five times a day, with RevIQ instantly adjusting its forecasts and recommendations.
Flexibility – Seamless integration, combined with a cloud-based, mobile-first design and single sign-on allows hotel owners to easily switch from their property management systems to their revenue management systems at any time, anywhere and on any device.
Simplicity – Designed for busy hotel owners and general managers, RevIQ makes it easy to quickly update prices, manage inventory, seamlessly switch between multiple hotels and more. Rate changes are immediate across all channels while a clean, intuitive interface enables faster training of new team members.
RevIQ is now available to all Wyndham franchisees running Saber SynXis Property Hub with plans to roll out to hotels on Oracle OPERA Cloud Property Management later this year, with portfolio-wide adoption by 2024. As part of of Wyndham’s ongoing digital transformation, RevIQ is the latest in a growing list of strategic technology investments made by Wyndham as it seeks to improve the guest experience while providing best-in-class resources and improved operational efficiency for its franchisees. For more information, including hotel development opportunities, visit www.wyndhamdevelopment.com.
IDeaS, a SAS company, is the world’s leading provider of revenue management software and services. With over 30 years of expertise, IDeaS provides revenue science to over 18,000 clients in 144 countries. Combining industry insights with innovative data analytics technology, IDeaS creates sophisticated yet simple ways for revenue managers to make accurate, automated decisions they can trust. Results delivered. Income transformed. Discover greater profitability at ideas.com.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchise company by number of properties, with more than 8,900 hotels in more than 95 countries on six continents. With its network of more than 813,000 rooms that appeal to the everyday traveler, Wyndham provides a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 22 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The company’s award-winning Wyndham Rewards loyalty program offers approximately 94 million registered members the ability to redeem points at thousands of hotels, resorts and vacation rentals worldwide. For more information, visit www.wyndhamhotels.com.
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SOURCE Wyndham Hotels & Resorts