BYD Lofts reports 15% revenue hike with new RMS system

BYD Lofts Boutique Hotel & Serviced Apartments has reported a 15% increase in property revenues following the implementation of IDeaS G3 Revenue Management System (RMS). The new system has been adopted to automate daily pricing activities and enhance the hotel's commercial strategies.

Located 200 metres from Patong Beach in Thailand, BYD Lofts offers a selection of upscale rooms, suites, and fully furnished serviced apartments. The hotel competes in a highly saturated resort and holiday market, which previously relied on manual revenue management processes. These manual methods proved inefficient and prone to errors, negatively impacting profitability.

“In the past, BYD Lofts faced challenges in setting optimal room prices that maximised occupancy without undervaluing our services. Our manual pricing strategies often resulted in missed revenue opportunities, either by setting prices too low during high demand periods or too high during low demand periods, which affected our overall profitability,” commented Alex Bressers, managing director of BYD Lofts Boutique Hotel & Serviced Apartments.

By integrating IDeaS G3 RMS, BYD Lofts has transitioned to a more sophisticated revenue management approach. The system provides real-time data analysis, forecasting, and decision-making capabilities.

“IDeaS G3 RMS continuously analyses market data, demand patterns, and competitive pricing. This allows us to dynamically adjust, ensuring we capture the maximum possible revenue for every room, every night. The system's predictive analytics help us stay ahead of market trends and capitalise on commercial opportunities,” said Bressers.

IDeaS G3 RMS allows BYD Lofts to automatically evaluate demand fluctuations and adapt to competitive market changes, thereby setting optimal pricing and inventory control decisions. The predictive analytics within G3 RMS offer accurate future demand forecasts and detailed performance reports, which in turn help property management understand the effects of their pricing decisions and refine strategies accordingly.

Since the adoption of IDeaS G3 RMS, BYD Lofts has seen notable gains, including a 15% increase in overall revenue. The hotel has also experienced growth in key performance metrics such as Average Daily Rate (ADR) and room type occupancy, as well as a surge in Revenue Per Available Room (RevPAR).

“IDeaS is excited to be working with BYD Lofts to enhance the property’s approach to revenue management and improve commercial outcomes. Through automating daily revenue management processes, BYD Lofts is benefiting from a more efficient and accurate approach to pricing that is continually informed by market trends and competitor activity,” said Jurgen Ortelee, managing director of APAC for IDeaS.