Ever since the Los Angeles-based Kor Hotel Group implemented the IDeaS V5i Revenue Management solution for automated forecasting for its North America properties, the Kor revenue management team has been able to free up countless man-hours formerly spent crunching data to instead work in conjunction with the marketing department to drum up new business.

Marketing and revenue management need each other, says Patricia Davis, corporate director of revenue management for Kor. Working hand-in-hand, revenue managers can identify who to target for promotions and what the target rate should be. ?When times are good, you set up your strategy and sort of just close (deals) as business comes in as you expect it,? Davis says, ?but when you?re in a situation like right now, where the unexpected happens every day, you?re trying to figure out what to tweak.?

Kor relies heavily on the IDeaS system?s group management component, which lets revenue managers forecast the impact and business displacement of a group booking. Using algorithms to process historical demographic data, the software projects a group?s total on-property spend and compares it to how much revenue the hotel might expect from transient sales that would be displaced. ?Every hotel uses that a great deal every day,? Davis says.

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