Katathani Collection, a Thai-based resort group, has recently seen its resort revenues climb by 15% across two properties, courtesy of IDeaS G3 Revenue Management System (RMS). A significant 20% has also amplified the Average Daily Rate (ADR).
Real-time data analysis and meticulous room-type pricing furnished by IDeaS G3 RMS have bolstered this revenue growth. Katathani Collection adopted the system across two of its properties: Katathani Phuket Beach Resort and The Shore.
As an award-winning hospitality group operating in Phuket, Khao Lak, and Chiang Rai, the Katathani Collection encountered mounting competition from local resorts. As a response, the group determined to enhance its approach to revenue management by automating and refining its pricing strategy.
In describing why Katathani Collection had selected IDeaS G3 RMS, Nantida Atiset, Chief Marketing Officer for the group, explains: "We had previously relied on manual revenue management processes."
"Manually collecting data sets and calculating information via spreadsheets was time-consuming and introduced potential errors and missed opportunities, which could negatively impact our group's profitability. Increased efficiency, pricing accuracy, and improved revenue performance have delivered substantial business results."
Besides facing the challenge of escalating competition, Katathani Collection had to contend with the diversity of accommodation options across its resorts. Enhanced pricing flexibility and optimisation at the room-type level were also needed. IDeaS G3 RMS considers factors like demand, guest willingness to pay, room type hierarchy, and the impact of competitor products before providing precise room-type pricing.
In doing so, IDeaS G3 RMS helps Katathani Collection to price each room type optimally without rate tiers or fixed room type offsets. The system provides continuous pricing functionality.
Jurgen Ortelee, Managing Director of APAC at IDeaS, highlights the advantages of their partnership with Katathani Collection, particularly in revolutionising the resort group's revenue management. By implementing automated daily revenue management processes, Katathani Collection gains the ability to make precise pricing decisions while having a comprehensive understanding of their competitors' positions in the market.
This automation eliminates the necessity for daily manual revenue management tasks, allowing key staff members to redirect their focus toward more valuable operational and strategic activities, ultimately fostering ongoing business growth.
Jurgen Ortelee says: "IDeaS is proud to be working with Katathani Collection to evolve the resort group's approach to revenue management."
"Through automating daily revenue management processes, Katathani Collection now makes accurate pricing decisions with a comprehensive understanding of its competitors' positions."
"And by eliminating the need for daily manual revenue management activity and intervention, key staff members can focus on higher-value operational and strategic activities, supporting ongoing business growth," says Ortelee.
On the whole, adopting IDeaS G3 RMS has not only helped Katathani Collection to grow its revenues by 15% but has also paved the way for substantial business results through data-driven pricing and distribution strategies.