New IDeaS release will help businesses maximize meeting and event revenue 

The company’s Function Space Revenue Management (FSRM) platform will use SAS technology to help businesses profit from non-room revenue streams and increase income from group and meeting spaces in hotels around the world.

“Meetings and events often account for 40 to 60 per cent of revenues for many hotels, yet profits are left behind when function space goes unsold or undersold,” IDeaS CEO Sanjay Nagalia said in a press release. “Our breakthrough solution now empowers sales organizations to optimize profits across all function space revenue streams, and drive better revenues company-wide. We’re incredibly proud of our team for this innovation, bringing our clients closer to Total Revenue Performance.”

FSRM uses advanced analytics to forecast and provide updated information on expected demand, based on full- or partial-day events. It also evaluates demand-driven displacement and helps businesses to maintain targeted ProPAST levels and boost profits through the optimization of collective contributions from various revenue streams.