Wyndham Hotels & Resorts, the world's largest hotel franchising company, has unveiled RevIQ, a next-generation, cloud-based, mobile-first revenue management system developed to help franchisees further optimise their revenue strategies and boost market share.
Created in collaboration with IDeaS, an industry leader in hotel revenue management software, RevIQ is tailor-made for Wyndham franchisees and designed to offer top-tier performance while keeping control, flexibility and simplicity at the forefront. The platform seamlessly combines with Wyndham's best-in-class property management systems, utilising real-time data and analytics to generate automatic pricing recommendations and adjustments. It allows franchisees to optimise their strategies based on their personalised market insights—a major competitive differentiator.
"No one knows their business, competition or market better than our franchisees," said Vikram Pradhan, group vice president, Global Revenue Management, Wyndham Hotels & Resorts. "For those reasons, it was critical we create a platform that, while powerful and robust in its data and analytics, also enables franchisees to incorporate their own knowledge and insights. RevIQ does that, making it a simple, intuitive, easy-to-use tool that is as beneficial to experienced hoteliers as it is to those running their first hotel."
According to Prativ Patel, owner of the Super 8 by Wyndham in San Bruno, Calif. and a member of the Super 8 by Wyndham Franchise Advisory Council, RevIQ is a game changer for Wyndham franchisees. He can now put his hotel's revenue management strategy on autopilot, allowing more time to focus on other parts of the business while ensuring the best possible return on every available room.
Wyndham was the first major hotel company to launch an automated revenue management system in the economy and midscale segments, deploying the system across its portfolio in 2015. RevIQ, the company's latest offering, reinforces that leadership position by providing smart revenue management capabilities anytime, anywhere and on any device, with three core benefits:
- Control – Hotel owners can create a custom pricing strategy based on market conditions and competition with complete control over who they deem in their competitive set and the ability to change. Competitors are automatically shopped five times daily, with RevIQ instantly adapting its forecasts and recommendations.
- Flexibility – Seamless integration with a cloud-based, mobile-first design and single sign-on enables hotel owners to easily transition between their property and revenue management systems anytime, anywhere and across any device.
- Simplicity – Developed with busy hotel owners and general managers in mind, RevIQ makes it easy and quick to update pricing, manage inventory, switch smoothly between multiple hotels and more. Rate changes are immediate across all channels, while a clean, intuitive interface helps faster training of new team members.
Part of Wyndham's continued digital evolution, RevIQ is the latest on an expanding list of strategic technology investments made by Wyndham as it aims to improve the guest experience while offering best-in-class resources and refined operational efficiencies for its franchisees.
RevIQ is currently available to all Wyndham franchisees employing Sabre SynXis Property Hub. There are plans to roll out the software to hotels on Oracle's OPERA Cloud Property Management later this year, with portfolio-wide adoption by 2024.
