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NYU School of Professional Studies' Students Tap into Latest Hotel Technologies with IDeaS Revenue Solutions

Next generation of hospitality leaders access award-winning revenue management technology as part of evolving curriculum

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MINNEAPOLIS – August 10, 2017 – The role of hotel revenue managers is rapidly evolving, and experience with analytics, automation and technology is a core requirement for aspiring hoteliers.

Starting in the spring of 2017, students attending the NYU School of Professional Studies (NYUSPS) within the Jonathan M. Tisch Center for Hospitality and Tourism program have had access to the latest technology platforms and learning resources through a collaboration with IDeaS Revenue Solutions.

The IDeaS Academic Partner Program is a worldwide educational curriculum with more than 60 institutions of higher learning. It is designed to provide students with valuable hands-on exposure to industry-leading pricing, forecasting, and revenue management solutions. Combined with other business and revenue management courses, the program empowers the next generation of hoteliers with a deep understanding of how technology will play a pivotal role in their careers.

“IDeaS will help the next generation of hoteliers at NYUSPS to strategically focus on overall profitability, and not just room revenue, which aligns with our core teaching philosophies,” noted the NYUSPS Tisch Center’s Academic Chair, Dr. Lynn Minnaert. “We’re eager to give our students this hands-on experience and help them accelerate their careers in the hotel industry.”

NYUSPS launched its hospitality and tourism program in 1995. The revenue management focus is new to the curriculum and is its fastest-growing track. More than 100 students this year began using IDeaS’ online tools and learning resources. This has helped students enter the job market with a strong background in revenue management theory, combined with real-world practice and perspective.

“IDeaS created this initiative more than five years ago because we knew that revenue management programs often struggled to keep up with the evolution in our industry,” said Mike Chuma, vice president of product strategy for IDeaS. “By extending access to our tools and award-winning resources, we’re helping future hoteliers understand how technology can help revenue managers transform from data miners into strategic business leaders.” More information on the academic partner program is available here.

IDeaS was a sponsor of the 2017 NYU International Hospitality Industry Investment Conference in June and hosted the workshop “From Revenue Optimization to Profit Optimization: Gain a Competitive Advantage and Drive More Profitable Business.”

About the NYU School of Professional Studies Jonathan M. Tisch Center for Hospitality and Tourism

The NYU School of Professional Studies Jonathan M. Tisch Center for Hospitality and Tourism, now celebrating 22 years of academic excellence, is a leading center for the study of hospitality and tourism. Founded in 1995, the Tisch Center was established in response to the growing need for hospitality and tourism undergraduate and graduate education. Its cutting-edge curricula attract bright, motivated students who seek to become leaders in their fields. Through its undergraduate degree in hotel and tourism management, its graduate degrees in hospitality industry studies and tourism management, a plethora of Professional Pathways programs, and its world-renowned conference, students gain the knowledge and the skill sets that enable them to manage change, to communicate, to thrive in complex work environments, and to advance the businesses of hospitality and tourism.

About IDeaS

With more than 1.5 million rooms priced daily on its advanced systems, IDeaS Revenue Solutions leads the industry with the latest revenue management software solutions and advisory services. Powered by SAS® and with nearly three decades of experience, IDeaS proudly supports more than 9,500 clients in 111 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.

Tweet this: .@IDeaS_RevOpt helps next generation of hoteliers @NYUSPS with leading academic partner program www.ideas.com/about/news #RevenueManagement

Media Contact:
Padilla for IDeaS
Tim Nelson, PR Representative
tim.nelson@padillaco.com
612-455-1789

Coming Up In The October Online Hotel Business Review




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Feature Focus
Revenue Management: Technology and Big Data
Like most businesses, hotels are relying on technology and data to drive almost every area of their operations, but perhaps this is especially true for hotel Revenue Managers. There has been an explosion of technology tools which generate a mountain of data – all in an effort to generate profitable pricing strategies. It falls to Revenue Managers to determine which tools best support their operations and then to integrate them efficiently into their existing systems. Customer Relationship Management, Enterprise Resource Planning, and Online Reputation Management software are basic tools; others include channel managers, benchmark reports, rate shopping tools and review systems, to name a few. The benefits of technology tools which automate large segments of a Revenue Manager’s business are enormous. Freed from the time-consuming process of manual data entry, and having more accurate data available, allows Revenue Managers to focus on analysis, strategies and longer-term decision-making. Still, for most hotels, the amount of data that these tools generate can be overwhelming and so another challenge is to figure out how to effectively utilize it. Not surprisingly, there are some new tech tools that can help to do exactly that. There are cloud-based analytics tools that provide a comprehensive overview of hotel data on powerful, intuitive dashboards. The goal is to generate a clear picture, at any moment in time, of where your hotel is at in terms of the essentials – from benchmarking to pricing to performance – bringing all the disparate streams of data into one collated dashboard. Another goal is to eliminate any data discrepancies between finance systems, PMS, CRM and forecasting systems. The October issue of the Hotel Business Review will address all these important developments and document how some leading hotels are executing their revenue management strategies.